SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  For example, here is how to disable FireFox ad content blocking while on Silicon Investor.

   Technology StocksSCOP -- Scopus Tech


Previous 10 Next 10 
To: Robert Hines who wrote (556)10/23/1997 4:38:00 PM
From: john p. carney
   of 1029
 
Here's the full release....

EMERYVILLE, Calif., Oct. 23 /PRNewswire/ -- Scopus Technology, Inc. (Nasdaq: SCOP) announced today its operating results for the second quarter of fiscal 1998, ended September 30, 1997.

Total revenues for the second quarter of fiscal 1998 were $20.0 million, up 48 percent from the $13.5 million reported for the comparable quarter last year. Software license revenues increased 30 percent to $13.0 million, up from $10.0 million reported for the same period in fiscal 1997. Services and maintenance revenues increased 103 percent to $7.0 million, up from $3.5 million for the second quarter of fiscal 1997. Net income for the quarter was $1.0 million, compared with $1.5 million last year, and earnings per share for the current quarter were 5 cents, compared with 8 cents for the second quarter of fiscal 1997.

Total revenues for the six months ended September 30, 1997 increased 75 percent to $41.6 million, compared with $23.8 million for the comparable period of fiscal 1997. For the same period in fiscal 1998, license revenues increased 61 percent to $28.0 million, from $17.4 million for fiscal 1997. Services and maintenance revenues increased 113 percent to $13.6 million for the six months ended September 30, 1997, compared with $6.4 million for the comparable period of fiscal 1997. Net income for the six months ended September 30, 1997 was $3.6 million, or 17 cents per share, compared with $2.3 million, or 12 cents per share, a year ago.

Scopus also announced today that it has entered into a definitive agreement to acquire Clear With Computers, Inc. of Mankato, MN ("CWC"), a leading provider of interactive selling systems. In connection with the transaction, Scopus will issue approximately 5,666,667 shares of Scopus Common Stock in exchange for the outstanding stock and options of CWC. Based upon the closing price of Scopus Common Stock on October 22, 1997, the total value of the transaction is approximately $90 million.

"We are very excited about the unique opportunities that this transaction will create," stated Ori Sasson, Chairman and CEO of Scopus. "This transaction enables us to combine the strengths of the leading provider of enterprise customer care software and a market leader in the rapidly emerging interactive selling system market. The two companies bring to each other complementary applications, architectures and target markets. Together we will pursue our goal to deliver the most comprehensive customer care suite in the industry." Mr. Sasson indicated that the products of the two companies are expected to be integrated in several steps over the next year. Mr. Sasson will remain Chairman and CEO of the combined company.

Klaus Besier, President and CEO of CWC, will upon the acquisition assume the role of President and Chief Operating Officer of Scopus. Mr. Besier stated, "The combination of CWC and Scopus provides us the opportunity to dramatically shift the paradigm for how companies manage their sales, marketing and service operations. Companies all over the world have been asking for an integrated approach to this challenge, and Scopus and CWC will have the opportunity to provide the most complete and compelling solution." Mr. Besier is best known for this role as president and CEO of SAP America, where he led the company to become the market leader in client/server business applications. During his tenure at SAP America, revenues grew from $16 million to over $700 million.

The transaction is subject to approval by the shareholders of each company, regulatory approvals and other customary closing conditions. The transaction is expected to be accounted for as a purchase, and is expected to result in a substantial one-time write off of in-process research and upon consummation of the transaction.

About Scopus

Scopus is the worldwide leader in enterprise customer care solutions, with over 425 customers and 70,000 end users in a wide variety of industries. The high scalable and fully integrated Scopus application suite drives mission-critical front office customer support, service, sales and marketing activities -- focusing the entire enterprise on winning and keeping customers. Founded in 1991, Scopus is headquartered in Emeryville, California and is publicly traded on the Nasdaq National Market. For more information, visit the Scopus Website at www.scopus.com or call 888-200-2971.

About CWC

CWC's software products help sales representatives sell more effectively while they're with their customers. More than 150,000 sales representatives from over 40 global, blue chip companies say it's the most important software on their mobile computers. Founded in 1983, CWC is headquartered in Mankato, MN. Its customers include General Motors, Renault, Freightliner, Volvo, DAF, Ingersoll-Rand and Carrier. The principal shareholders of CWC include General Atlantic Partners, which invested in CWC in May 1997 and is also a shareholder in Scopus. J. Michael Cline is on the Board of Directors of each of Scopus and CWC.

Forward Looking Statements

This press release contains forward looking statements within the meaning of federal securities laws. Such forward looking statements are based on current expectations and beliefs and are subject to risks and uncertainties that could cause the Company's actual results to differ materially in the future. Factors that could cause actual results to differ materially include the following: the timely development and market acceptance of new products and upgrades to existing products, the impact of competitive products and pricing, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission (SEC). The transaction is subject to approval by the shareholders of each company, and regulatory approval and other customer closing conditions, and accordingly may not be consummated. In addition, acquisitions involve significant inherent risks and uncertainties, including the difficulties associated with integrating the management, products and technologies, sales force and other operations of the two companies. The business of Scopus is subject to additional risks and uncertainties, including without limitation those discussed in the "Qualitative and Quantitative Disclosure About Market Risk" sections of Scopus Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and other public filings.

Scopus Technology, Inc.
Condensed Consolidated Statements of Operations
(in thousands, except per share data)
(Unaudited) (Unaudited)
Three Months Ended Six Months Ended
September 30, September 30,
1997 1996 1997 1996
Revenues:
Licenses $13,027 $10,043 $28,033 $17,424
Services and
maintenance 7,008 3,458 13,609 6,380
Total revenues 20,035 13,501 41,642 23,804
Cost of revenues:
Licenses 639 244 1,054 839
Services and
maintenance 4,457 2,217 8,617 4,178
Total cost of revenues 5,096 2,461 9,671 5,017
Gross margin 14,939 11,040 31,971 18,787
Operating expenses:
Sales and marketing 9,607 5,642 19,178 9,703
Research and
development 2,730 2,080 5,244 3,860
General and
administrative 1,708 1,200 3,366 2,050
Total operating
expenses 14,045 8,922 27,788 15,613
Income from operations 894 2,118 4,183 3,174
Other income, net 740 265 1,505 576
Income before
income taxes 1,634 2,383 5,688 3,750
Provision for
income taxes 605 882 2,105 1,401
Net income $1,029 $1,501 $3,583 $2,349
Net income per share $ 0.05 $ 0.08 $ 0.17 $ 0.12

Shares used in per share

computations 21,635 19,160 21,699 19,136
Scopus Technology, Inc.
Condensed Consolidated Balance Sheets
(in thousands)
(Unaudited)
September 30, March 31,
1997 1997

Assets Current assets:

Cash and cash equivalents $ 47,379 $ 54,824
Investments 28,384 24,417
Accounts receivable, net 20,982 17,712
Prepaid expenses and other 3,804 2,686
Total current assets 100,549 99,639
Property and equipment, net 9,782 7,038
Other assets 3,237 1,852
Total assets $ 113,568 $ 108,529

Liabilities and Shareholders' Equity Current liabilities:

Accounts payable $ 2,195 $ 2,234
Accrued liabilities 6,430 7,177
Income taxes payable 1,582 1,938
Deferred revenue 4,509 4,856
Total current liabilities 14,716 16,205
Shareholders' equity:
Common stock and paid-in capital 83,079 80,134
Retained earnings 15,773 12,190
Total shareholders' equity 98,852 92,324
Total liabilities and
shareholders' equity $ 113,568 $ 108,529

Copyright 1997, PR Newswire

CONTACT: Michele Axelson, Chief Financial Officer of Scopus Technology, Inc.,

Share RecommendKeepReplyMark as Last ReadRead Replies (2)


To: john p. carney who wrote (557)10/23/1997 4:45:00 PM
From: seth thomas
   of 1029
 
First of all, they were right at the bottom end of revenue projection, right at $20 MM.

But, there's a much bigger aspect to the release. Scopus is buying another company, Clear With Computers, which is a interactive selling product. Sort of relates to SFA. They are issuing 5.7 MM shares, which dilutes about 25%. On the other hand, they are getting a new President - Klaus Bieser, who was SAP America CEO. So, maybe it balances.

Share RecommendKeepReplyMark as Last Read


To: john p. carney who wrote (557)10/23/1997 4:48:00 PM
From: PHIL K.
   of 1029
 
John, First Call shows: Mean EPS of 6 cents..
Also shows Median of 5 cents..
We are not far off at all from estimates..
Let us hope CC goes well with Contract announcements..
Phil K.
PS I bt Puts today just in case we decide to tread down again..
Time to learn Short Selling better IMO.

Share RecommendKeepReplyMark as Last ReadRead Replies (1)


To: PHIL K. who wrote (559)10/23/1997 4:52:00 PM
From: john p. carney
   of 1029
 
<We are not far off at all from estimates..>

Phil, those ests. were revised lower after the co released this

biz.yahoo.com

John

Share RecommendKeepReplyMark as Last ReadRead Replies (2)


To: john p. carney who wrote (560)10/23/1997 4:57:00 PM
From: Tom Hua
   of 1029
 
John and ALL, the conference call replay number is 402-222-9910. Hope all goes well with the CC.

Regards,

Tom

Share RecommendKeepReplyMark as Last ReadRead Replies (1)


To: john p. carney who wrote (560)10/23/1997 4:59:00 PM
From: Trader Dave
   of 1029
 
I don't want to waste too much time, but this is a serious warning to scop investors. CWC is nuclear waste. Rotten technology, poorly run, major distraction. SCOp has enough issues to deal with. You are treading in dangerous territory if you stick with this stock for long. Institutional investors aren't stupid, stock will get clocked tomorrow.

I've seen it before, cover up your disasters with an acquisition. Bet it's almost as good as Novell/Word Perfect.

TD

Share RecommendKeepReplyMark as Last ReadRead Replies (2)


To: Tom Hua who wrote (561)10/23/1997 5:02:00 PM
From: Will Cunningham
   of 1029
 
The quarter was so good the Scopus decided to take up most of the space with the acquisition and not the results. I have no analysis of the acq, but doesn't this seem like their management to go for the diversion and slip in this news on the sly. I think the acq should have been in a separate release and the company should have referenced anything positive about the past or future quarters. This may occur in the conf call, but it seems to me that nothing has changed at Scopus. Vantive is a much more positive and healthier story with strong management. Anyone agree that Scopus needs a nice big mgt shake-out?

Share RecommendKeepReplyMark as Last ReadRead Replies (1)


To: Trader Dave who wrote (562)10/23/1997 5:19:00 PM
From: Shege Dambanza
   of 1029
 
Hmmm. CWC has a good reputation with people I've talked to.

Share RecommendKeepReplyMark as Last ReadRead Replies (1)


To: Will Cunningham who wrote (563)10/23/1997 5:20:00 PM
From: Shege Dambanza
   of 1029
 
Anyone agree that Scopus needs a nice big mgt shake-out?

Yup. Getting the ex-SAP guy from CWC is no doubt the first move.

Share RecommendKeepReplyMark as Last Read


To: Shege Dambanza who wrote (564)10/23/1997 5:26:00 PM
From: Trader Dave
   of 1029
 
Good service, not good business execution. I've looked at it from an investor perspective.

However, I HAVE NOT visited with the company since general atlantic made the investment and the new management came on board. It still won't correct years of entrenched mediocrity. I think it will prove hard to digest in the face of the execution challenges and increasinly powerful competition.

TD

Share RecommendKeepReplyMark as Last ReadRead Replies (2)
Previous 10 Next 10 

Copyright © 1995-2018 Knight Sac Media. Data provided by IEX, Alpha Vantage, Coinbase, Binance, Fintel and CityFALCON News - See Terms of Use.