| Fri 14 Feb 2003, 15:24 | | Spescom`s Us Operation First Quarter Revenues Jump |
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SPESCOM`S US OPERATION FIRST QUARTER REVENUES JUMP AN IMPRESSIVE 33%
Spescom Limited
ISIN: ZAE000017919
Share code: SPS
Johannesburg: February 14 2003 - JSE listed Spescom Limited, today announced the
first quarter results for the 2003 fiscal year, for its US operation, Spescom
Software Inc., formerly Altris Software, Inc. (OTC BB: ALTS) covering the period
ending December 31, 2002.
Spescom Software is a leading provider of integrated document, configuration and
records management (iDCR) solutions.
Total revenue for the fiscal first quarter 2003 increased 33% to $2.3 million
from $1.7 million in the same prior- year quarter. License revenue climbed 190%
to $921,000 versus $318,000 in the prior-year first quarter. First quarter
services revenue remained relatively flat year-over-year at approximately $1.4
million. Net loss narrowed to ($62,000), or ($0.00) per share for the quarter,
compared with a net loss of ($1.9) million, or ($0.06) per share, for the same
quarter of fiscal 2002.
Earnings before interest, taxes, depreciation and amortization (EBITDA) for the
quarter ended December 31, 2002 improved to $186,000, or $0.01 per share,
compared with a net loss of ($1.6) million, or ($0.05) per share, for the same
quarter of fiscal 2002. Depreciation and amortization, including amortization
expenses related to capitalized software costs, totalled $123,000 for the three
months ended December 31, 2002, compared with $251,000 for the three months
ended December 31, 2001.
According to Spescom Software, CEO, Carl Mostert, this positive trend marks the
third consecutive quarter of improved operating results since the company`s
restructure in early 2002.
"Especially rewarding is our achieving EBITDA of $186,000, which enabled the
Company to generate $340,000 in cash from operating activities," says Mostert.
"Our financial achievements are a direct result of the success in growing our
license revenue, which jumped 190% year-over-year and 30% sequentially over the
fourth quarter of 2002. License revenue growth is key to growing the
profitability of the business. Our gross profit margin increased to 63% from
28% in the comparable quarter a year ago and 48% sequentially.
"Moreover, each additional license sold generates future revenues from ongoing
annual maintenance contracts. Also, each additional license sale can create new
references in a customer account, which can lead to new opportunities to expand
into different divisions of a customer`s business and increase the deployment of
eB. For example, our initial success at Network Rail (formerly called
Railtrack) has led to the adoption of eB throughout Network Rail`s West Coast
Route Modernization Program. It has also led to Network Rail`s alliance
partners adopting eB, including Transmitton and the Watford and Bletchley
Alliance, a consortium formed by Balfour Beatty Rail Projects Ltd, Westinghouse
Rail Systems Ltd and Network Rail.
"Given the success to date with our turnaround and the momentum we created with
major customers, such as Network Rail, Sempra Energy, Lloyd`s Register of
Shipping and Bechtel, we are confident that we will meet our 2003 target of
between $9 million and $10 million in revenue and EBITDA of between $800,000 and
$1.0 million, or $.03 per share on an EBITDA basis," Mostert concludes.
Ends
About Spescom eB
eB is a registered trademark of Spescom Software Inc. eB comprises an extensive
set of software components that together form the foundation for an extremely
flexible and powerful information management platform. eB`s components include:
document management; requirements management; records management; item
management; change management; configuration management and workflow components.
These components are tightly integrated with CAD, GIS, office and email
applications to capture and view information. The full functionality of eB is
available via a set of API`s that enable the rapid definition and deployment of
customer specific solutions and integration with other line-of-business
applications including ERP, EAM, SCM and project management products.
About Spescom Software Inc.
Spescom Software (OTCBB: ALTS) delivers enterprise eBusiness solutions that
provide rapid access to accurate information in context to assets, products and
processes, resulting in improved customer satisfaction, productivity and safety.
It achieves this through a tightly integrated suite of document, configuration
and records management technologies that not only allows it to capture and
securely store information, but also organizes and structures this information
to place it in context.
Key customers include Ocean Energy, Continental Express, AmerenUE, City of
Winston-Salem, Sempra Energy, Eastern Municipal Water District, Entergy,
Northeast Utilities, London Underground, Railtrack, and many others.
For further information visit us at www.spescomsoftware.com
About Spescom Limited
Spescom is a multi-national technology innovator with direct operations in the
US, UK and South Africa.
The group is publicly listed on the JSE Securities Exchange SA (Spescom Ltd),
and on the NASDAQ OTCBB : ALTS.OB (Spescom Software Inc).
Spescom addresses the information and communications technology market providing
both products and solutions to connect to the network economy, as well as
enterprise software to manage information and knowledge.
Specifically, Spescom provides solutions in the areas of access network;
enterprise information management; multimedia transaction recording; broadcast;
customer contact centres; and test & measurement.
Spescom markets its products worldwide through appointed partners and
distributors under the eB(tm) brand for its enterprise software, and the
DataVoice(tm) brand for its multimedia transaction recording solutions.
Spescom`s global customer base consists of multi-national organisations
including leading enterprises in the utilities, telecommunications,
transportation, financial, banking and insurance sectors.
Worldwide, customers include Siemens, British Telecoms, Network Rail (formerly
Railtrack), Lloyds of London, Barclays Bank, Abbey National Bank, WH Smith,
Caterpillar, Bechtel, AmerenUE, Entergy, Bombardier, Ocean Energy, Sempra
Energy, Telkom, SABC, Old Mutual, Eskom, Transnet, First National Bank.
For more information on Spescom, please visit www.spescomsoftware.com and
www.spescom.com
For further information contact:
Simone Farah
Spescom Corporate Communications Officer
Tel: +27 11 266 1701
Fax: +27 11 266 1553
Mobile: +27 82 410 1236
E-mail: sfarah@spescom.com
DEIRDRE BLAIN
BLAIN & ASSOCIATES
TEL: Offices: +27 11 789 8548
Mobile: 083 305 8859
Fax: +27 11 789 8567
Date: 14/02/2003 01:30:57 PM Supplied by www.sharenet.co.za
Produced by the JSE SENS Department
