PRESS RELEASE Contact Information Raining
Data Corporation RAINING
DATA ANNOUNCES IRVINE, CA.- February 12, 2003
Raining Data Corporation (Nasdaq: RDTA) today announced financial results for the third quarter of fiscal year 2003. Revenue for the quarter ended December 31, 2002 increased 7% to $5.3 million from $4.9 million for the quarter ended December 31, 2001. Revenue for the nine-month period ended December 31, 2002 increased 4% to $15.0 million from $14.4 million for the same period in the prior fiscal year. The Company recorded an operating profit of $0.2 million for the quarter ended December 31, 2002 as compared to an operating loss of $3.6 million for the same period in the prior year. Operating loss for the nine-month period ended December 31, 2002 was $0.4 million compared to a loss of $12.8 million for the same period in the prior fiscal year. Results for the three and nine-month periods ended December 31, 2001 include goodwill amortization of $2.5 million and $7.6 million, respectively. No goodwill amortization was recorded for the three and nine-month periods ended December 31, 2002. For the quarter ended December 31, 2002, net loss was $0.6 million compared to a net loss of $4.6 million for the same period in the prior fiscal year. Net loss for the nine-month period ended December 31, 2002 was $3.3 million compared to a net loss of $15.7 million for the same period in the prior fiscal year. Net loss per share was $0.04 and $0.19 for the three and nine months ended December 31, 2002 compared to a net loss per share of $0.29 and $0.96 for the three and nine months ended December 31, 2001. Earnings
before interest, taxes, depreciation, and amortization (“EBITDA”)
for the quarter ended December 31, 2002 improved by $0.9 million
to positive $1.0 million, or 19% percent of revenue compared
to $0.1 million, or 3% of revenue, for the quarter ended December
31, 2001. EBITDA for the nine-month period ended December 31,
2002 improved by $3.9 million to a positive $2.2 million, or
15% of revenue, from a negative $1.7 million for the same period
in the prior fiscal year. The Company computes EBITDA, as reflected
in the following table, by adding depreciation, goodwill and
non-goodwill amortization and non-cash stock-based compensation
expense to its GAAP reported operating income (loss). About Raining Data Raining Data Corporation (Nasdaq: RDTA), headquartered in Irvine, California, has been providing reliable data management and rapid application deployment solutions for developers of database applications for more than two decades. Raining Data's flagship products include: 1) high-performance TigerLogic™ XML Data Management Server (XDMS), which provides flexible, scaleable and extensible storage and retrieval of critical business data across a variety of structured and unstructured information sources, delivering scalability and transactional integrity of enterprise databases as well as dynamic extensibility and ease of use, mostly found in repositories and file systems; 2) D3®, mvEnterprise® and mvBase® family of powerful Pick® based hierarchical multi-dimensional database management systems that are the choice of more than a thousand application developers worldwide; 3) mvDesigner®, an object-oriented rapid application development (RAD) tool developed for use with multi-dimensional database applications; and 4) Omnis Studio®, a powerful, cross-platform, object-oriented RAD tool for developing sophisticated thick-client, Web-client or ultra thin-client database applications. The Raining Data customer installed base includes more than 500,000 active users, representing over 20,000 customer sites worldwide with a significant base of diverse vertical applications. With over 140 employees in four countries, the company has an extensive distribution channel, 24x7 customer support and a strong international presence. More information about Raining Data Corporation and its products can be found at www.rainingdata.com. ###
Raining Data, Pick, mvDesigner, D3, mvEnterprise, mvBase, Omnis and Omnis Studio are registered trademarks and TigerLogic is a trademark of Raining Data Corporation. All other trademarks and registered trademarks are properties of their respective owners |
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