Tuesday, February 8, 2000
Ontrack data international announces record fourth quarter resultsONTRACK Data International, Inc. (Nasdaq: ONDI) today announced its financial results for the fourth quarter and year ended December 31, 1999.
For the fourth quarter, total revenues were a record $13,850,000, an increase of 57 percent over the fourth quarter of 1998. Data recovery service and product revenues were a record $9,648,000, a 35 percent increase over fourth quarter 1998. Software revenues increased to a record $4,202,000 compared to $1,633,000 in the fourth quarter of 1998. Net income, excluding one-time expenses related to the terminated Legato Systems, Inc. merger, was $1,565,000, or $0.15 per diluted share, compared to $845,000, or nine cents per diluted share, in the same period a year ago. Diluted net income per share, excluding the aforementioned one-time expenses and amortization of goodwill relating to Ontrack's acquisition of Mijenix Corporation, was $0.18 per share, an increase of 100 percent over the fourth quarter of 1998.
“We see exciting momentum in our businesses as our strategy to extend data recovery technology into the broader data availability market moves forward,” said Mike Rogers, chief executive officer of Ontrack. “In the fourth quarter, higher data recovery revenues were due to three things: an increase in the company's Electronic Information Management business, good market acceptance of the company's do-it-yourself data recovery software products and an increase in the company's remote data recovery services. The increase in software revenues is due to sales of the Company's retail software products.”
For the year ended December 31, 1999, total revenues were $43,372,000, compared to $35,841,000 in 1998. Net income before one-time expenses related to the terminated Legato merger and excluding amortization of goodwill relating to Ontrack's acquisition of Mijenix Corporation was $5,660,000, or $0.57 per diluted share, compared to $5,198,000, or $0.52 per diluted share, in 1998.
Ontrack, a leading provider of data availability software and service solutions, helps customers protect, back up, recover and discover their valuable data. Using its hundreds of proprietary tools and techniques, Ontrack is able to recover lost or corrupted data from all operating systems and types of storage devices through its do-it-yourself, remote and in-lab capabilities. Ontrack now offers a line of award-winning software tools to help prevent critical data loss through a broad line of problem-solving, file management and productivity utilities. Ontrack can be reached through its World Wide Web site at http://www.ontrack.com or by calling 800-872-2599 (612-937-5161). In addition to its Minneapolis headquarters, Ontrack operates other locations in Los Angeles, Boulder, Colo., Washington D.C., New York, London, Paris and Stuttgart.
ONTRACK is a registered trademark of ONTRACK Data International, Inc. in the United States and/or other countries. All other brands or product names are trademarks or registered trademarks of their respective holders.
Statements in this release concerning the future prospects of ONTRACK are “forward-looking statements” under the Federal securities laws. There can be no assurance that future results will be achieved, and actual results could differ materially from forecasts, estimates and summary information contained in this press release. Important factors that could cause actual results to differ materially are included but are not limited to those listed in the ONTRACK Annual Report on Form 10-K for the year ended December 31, 1998, under the caption “ Management's Discussion and Analysis of Financial Condition and Results of Operations -- Forward Looking Statements”.