Revenues up 39% year over year
PALO ALTO, Calif., July 19, 2001 -- Informatica Corporation (NASDAQ: INFA), the leading provider of enterprise analytic software, today announced financial results for the second quarter ended June 30, 2001. Revenues for the second quarter of 2001 were $47.1 million, compared to $33.9 million in the corresponding quarter of 2000 and $54.0 million recorded in the first quarter of 2001. Net loss for the 2001 quarter, excluding non-operating charges of $7.1 million related to the amortization of goodwill and other intangible assets and stock-based compensation, was $431,000 or $0.01 per share.
Revenues were $101.2 million for the six-month period ending June 30, 2001, compared to $59.8 million in the same period of 2000. Excluding non-operating charges related to the amortization of goodwill and other intangible assets, stock-based compensation and purchased in-process research and development, net income for the six months ended June 30, 2001 was $4.6 million, or $0.06 per share, compared to $3.4 million, or $0.04 per share for the six months ended June 30, 2000.
Including non-operating charges related to amortization of goodwill and other intangible assets, stock-based compensation and purchased in-process research and development, net loss for the second quarter was $7.5 million or $0.10 per share, compared to a net loss of $4.2 million or $0.06 per share for the second quarter of 2000. Net loss for the six months ended June 30, 2001 was $9.5 million, or $0.12 per share, compared to a net loss of $3.5 million, or $0.05 per share for the six months ended June 30, 2000.
“We grew our products and customer base and saw healthy repeat business in a slower economic environment,” said Gaurav Dhillon, CEO of Informatica. “While the economy will continue to be a challenge in the short-term, we believe it creates an opportunity for the strong to get stronger and benefit when the economic climate improves.”
Significant milestones in the second quarter of 2001 included:
Signed 98 new customers. This quarter Informatica increased its base of marquee customers to approximately 1300 with the addition of Avaya, City of Calgary, Corporation of Public Broadcasting, Dynegy, Expeditors International, Federal Drug Administration, Forest Laboratories, Heineken USA, Idaho Power, Internal Revenue Service, Johnsons Wax, Quaker Oats, SkyChefs, Stasco, Southern California Edison, Teradyne, and Tri-Care Management Activities.
Signed repeat business with 91 customers. As more enterprises adopt Informatica as their standard for data integration, repeat business continued to grow. Repeat customers included ABN AMRO, Abbey National, Allstate Emcompass Insurance, American Airlines, U.S. Army, Bayer AG, Campbell Soup, Chevron Corp., Commonweath Edison, Corning Cable Systems, Deutsche Bank, Deutsche Telekom, Electronic Arts, General Electric, HP Corp., Intuit, Michelin, Nokia, Qualcomm, Siemens Medical Systems, Thomas Travel Group, UBS AG, Verizon, and VoiceStream Wireless.
Launched real-time analytics solution. The Informatica PowerCenter data integration platform was enhanced with significant new functionality to enable real-time analytics. The new Informatica real-time analytics solution is comprised of the following key elements: real-time functionality enhancements to the data integration platform; real-time integration of EAI and message queue data with other enterprise information; and personalized delivery of real-time alerts and information.
Partnered with strategic EAI technology vendors. Direct real-time support for leading message queues and enterprise application integration (EAI) systems now includes “always-on” connectivity for sourcing and targeting IBM MQSeries as well as integration support through new technology partnerships with EAI vendors TIBCO, Vitria and webMethods.
Extended access to mainframe and AS/400 data. Informatica delivered two new infrastructure products: Informatica PowerConnect for Mainframe and Informatica PowerConnect for AS/400. These products represent an important extension of the company`s portfolio, enhancing the Informatica PowerCenter data integration platform with scalable, high-performance, and easy-to-implement solutions for direct, native access to business data stored in mainframe and IBM AS/400 systems.
Partnered with Sun to deliver data warehousing reference architecture. Sun Microsystems, in conjunction with Informatica, introduced a designed, tested and integrated data warehousing solution, known as the Sun iForce Data Warehousing Reference Architecture. This Reference Architecture is aimed at helping enterprises design and develop data integration environments with reduced complexity and risk.
Selected by PricewaterhouseCoopers. Informatica was the first vendor chosen to provide core analytic products for PricewaterhouseCoopers` new iAnalytics (Integrated Analytics) solution. Informatica Applications-the industry`s first family of cross value chain analytic applications-has been selected as a key component of PricewaterhouseCoopers` iAnalytics framework of services and technologies.
Informatica provides enterprise analytic software that enables decision-makers to transform business insight into competitive advantage. Informatica provides the industry`s only integrated set of analytic products including a powerful data integration platform, a suite of cross-value chain analytic applications, and real-time delivery of personalized analytics via web, wireless and voice. More than 1,300 customers, including over half of the Fortune 100, rely on Informatica software to integrate, analyze and deliver critical information to managers, executives and other decision-makers to optimize business performance. The company`s list of global customers includes 3Com, AMD, American Airlines, BMW, Borders Group, Chevron, Cisco, CNET, Deutsche Bank, eBay, General Electric, HP Corp., Inktomi, MetLife, Motorola, Philips, Polo Ralph Lauren, Sprint and UBS. For more information, call 1.800.970.1179, or visit the Informatica Web site at http://www.informatica.com/.
Informatica will be discussing its second quarter results and its 2001 outlook on a conference call today beginning at 2:00 p.m. (PST). A live Webcast of the conference call will be available at http://www.informatica.com/investor. Playback of the call will be available through 4:00 p.m. on July 26, 2001, and can be accessed by dialing 800-633-8284 and entering reservation #19286100. A replay of the Webcast will also be available on the Informatica Web site.