The result is a
comprehensive set of solutions to meet the needs of
a growing
enterprise.5 17.6 17. Hummingbird's Deal Management
solution supports
investment banking teams by providing an integrated work
environment to build relationships, win
business, close deals and audit
activities.
The Company's recently unveiled Hummingbird Content
Drive(TM) technology
will be a key component of Hummingbird Enterprise(TM) 2005.
Also during
the quarter Hummingbird unveiled another important innovation
available with the release of Hummingbird
Enterprise(TM) 2005.S.
isworld accessing
TIE Partners with Computer Generated Solutions; Agreement to provide CGS customers
with integration software to streamline and automate supply chain processes
We regard Computer Generated
Solutions
decision to partner with TIE as a welcome endorsement of the
reputation of our business
-to-business integration solutions, as well
as the positive reflection of our standing after years
of experience
within the retail area". As a result, companies are able to lower the cost of doing
business by automating and optimizing cross enterprise business
processes. generally
accepted
accounting principles, except where noted.2 104. Hummingbird Enterprise revenues for
the current
six months were $74. With the familiarity and intuitive value this interface
brings the user, the
benefits of Hummingbird Enterprise(TM) Client for
Microsoft Outlook include reduced time and effort
to manage work product,
enhanced work experience and greatly reduced training time.
Founded
in 1984, Hummingbird employs over 1,400 people and serves more
than 33,000 customers, including 90
% of Fortune 100.accessing widmeyer
CGS enables organizations to adapt
and implement advanced technologies throughout
their enterprise by
delivering expert, cross-industry solutions on multiple platforms.9) 0
. Based
on extensive market validation and testing with our customers, these new
capabilities represent
an important advancement in usability that will further
remove complexity in managing content and
lower deployment costs.2 million, an
increase of 3.04 last year. The Company's cash position, including
short-term investments, was $129. First, Hummingbird has made significant investments in user
interface
functionality to measurably improve usability and end user work
experience. The Hummingbird
Enterprise
(TM) Client for Microsoft Outlook provides a fully interactive view
of the entire suite of Hummingbird
Enterprise functionality from within
Microsoft Outlook.
Awards and Recognition
----------------------
During the quarter Hummingbird was recognized by KMWorld magazine as one
of the 100 Companies that Matter in Knowledge Management. This list recognizes
organizations who
are leading the way in the knowledge economy by anticipating
market requirements and delivering innovative
solutions that enable customers
to leverage knowledge assets across their enterprise.04
-
------------------------------------------------------------------------
--------------------
-----------------------------------------------------
DILUTED (LOSS) EARNINGS
PER SHARE
$ (0.S.supposed janco
Business Editors/High-Tech Editors
AMSTERDAM, Netherlands--
--B2B
Integration Software Company TIE Holding N.com/
About TIE
TIE is an international
Business-to-Business Integration software
company, established in 1987 and is listed on the EuroNext
Amsterdam
Stock Exchange in the NextEconomy Index. TIE is a leading business
integration company
that offers in-depth expertise to all its
subsidiaries and resellers around the globe.7
Net (Loss) Income (1.1 (2.8
Diluted (Loss) Earnings
Per Share
(0.8 17.
--------------------------------------------------------
-----------------
"During the second quarter we continued to grow our Enterprise Content
Management
business which now represents over 70% of our total revenue mix.3 million, relatively
unchanged from
the quarter ended March 31, 2004.2 million, compared to a net income of $2.8 million as at March 31
, 2005 from $66. Based on
Hummingbird's enterprise content management platform, Deal Management provides
a collaborative environment for internal and external participants to work
together throughout
the deal negotiation process. Hummingbird Enterprise solutions enable
organizations to address critical
business needs, such as information
management, business continuity, compliance and risk mitigation
.04
-------------------------------------------------------------------------
--------
-----------------------------------------------------------------
BASIC WEIGHTED AVERAGE
NUMBER OF SHARES
(in thousands) 17,500 17,595 17,482 17,573
-------------------------------------------------------------------------
-----------
--------------------------------------------------------------
DILUTED WEIGHTED AVERAGE
NUMBER OF SHARES
(in thousands) 17,500 17,811 17,482 17,755
-------------------------------------------------------------------------
---------------
----------------------------------------------------------
HUMMINGBIRD LTD.64
---
----------------------------------------------------------------------
----------------------
---------------------------------------------------
ADJUSTED DILUTED EARNINGS
PER SHARE
$ 0.34 $ 0.pedagogy jessup
8 11.21 0. Connectivity
revenues for the quarter
were $16. GAAP, as an
indicator of the Company's performance.
For the second quarter of fiscal
2005, Hummingbird reported a net loss of
$1.1 million for the same quarter of
last year.omb janco
Computer
Generated Solutions (CGS) is a leading provider of system
integration, software, training, and managed
services to businesses
and government agencies worldwide. TIE's solutions in the 'Enterprise Portal
Framework' allow
companies to integrate their back-office processes to their trading
partners
and to manage product information. dollars in accordance with U. GAAP
(millions of U.
Adjusted net income in the current quarter was $3.56 $ 0.popkin pedagogy
S.7 6.4% increase from the same
quarter last year, and a 4.
Total assets as at March 31, 2005 were $365.1 million as at March
31, 2005.S. GAAP
Three Months Ended Six Months Ended
March 31 March 31
2005 2004 2005 2004
---- -
--- ---- ----
(Unaudited) (Unaudited) (Unaudited) (Unaudited
)
Net (loss) income,
U.omb frameworks
(CGS) has selected TIE's Transformation
Technology
to integrate with its Business Intelligent application. By
integrating with clients' core business
operations, CGS offers a broad
array of services including e-business consulting and application
development, ERP and CRM solutions, system integration, learning
services, help desk, and professional
staffing. Our local solution
providers help companies do business electronically, therefore
improving
the efficiency and effectiveness of their business
processes. For more information, visit http:/
/www.
PROFORMA SUPPLEMENTAL INFORMATION
RECONCILIATION OF NET INCOME TO ADJUSTED NET INCOME
(thousands of U.isworld mis
For further information about
the products and services offered by Computer
Generated Solutions,
visit http://www.com
21
TORONTO, April 26 - Hummingbird
Ltd.04
Diluted Number of Shares
(millions) 17. These purpose
-driven solutions are helping differentiate Hummingbird
from our competitors, and are opening up new
market opportunities across
multiple verticals.07 in the current quarter compares
to diluted earnings
per share of $0.
Sales for the six months ended March 31, 2005 were $108. Teams can work across
multiple organizations and geographies, and
around the clock for faster deal closing and higher deal
throughput.$)
As at As at
March 31 September 30
2005 2004
---- ----
(Unaudited)
ASSETS
CURRENT ASSETS
Cash and cash equivalents $ 129,083
$ 125,543
Short-term investments - 4,943
Accounts receivable 58,833 57,620
Unbilled receivables
593 832
Income taxes recoverable
915 -
Inventory 974
873
Prepaid expenses 7,514 5,443
Other
receivables 2,978 2,138
---------------------------
----------------------------------------------
200,890 197,392
OTHER ASSETS 2,766
3,150
FIXED ASSETS 12,500 13,324
INTANGIBLES
149,188 157,784
-------------------------------
------------------------------------------
$ 365,344 $ 371,650
----------------------------------------------------------------------
---
-------------------------------------------------------------------------
LIABILITIES
CURRENT LIABILITIES
Accounts payable and accrued liabilities $ 25,208 $
20,394
Income taxes payable - 7,167
Current
portion of other long-term liabilities 1,020 212
Deferred revenue
67,826 65,521
-------------------------------------------------
------------------------
94,054 93
,294
DEFERRED INCOME TAXES 6,960 11,398
OTHER LONG
-TERM LIABILITIES 122 1,038
------------------------------
-------------------------------------------
101,136 105,730
---------------------------------------------------------------------
----
SHAREHOLDERS' EQUITY
SHARE CAPITAL
Authorized: unlimited common and preferred
shares
Issued and outstanding: 17,510,488 common shares
at
March 31, 2005 and
17,448,279 common shares
at September 30, 2004 165,751 164,521
ADDITIONAL PAID-IN CAPITAL
3,510 3,510
RETAINED EARNINGS 95
,877 98,819
ACCUMULATED OTHER COMPREHENSIVE LOSS (930) (930)
-------------------------------------------------------------------------
264,208 265,920
-----------------------------------
--------------------------------------
$ 365
,344 $ 371,650
-------------------------------------------------------------------------
-------------------------------------------------------------------------
CONSOLIDATED
STATEMENTS OF RETAINED EARNINGS
(thousands of U.56 $ 0.contrasting popkin
Because EDI requirements vary from
company to company, differences in document formats and other
requirements create obstacles to
successful information exchange.7 million, compared to
$6.21, compared to
$0.7 million, compared
to
$39.0 million in the same
period last year, representing a 6. In particular, Contract Management
across multiple industry
segments, and Deal Management for the financial services sector are generating
net new customers and a growing sales pipeline. In addition, over 100 of
Hummingbird's valued
partners attended Summit.$, except share data) U.supposed jessup
With TIE
eVision, retailers are
able to rapidly achieve the electronic
connectivity and the integration they require among their
suppliers,
customers and business systems.
Paul Magel, CGS' Senior Vice President of the Application
Solutions Division said: "Our objective is to provide CGS customers
success in the marketplace
by supplying advanced technology tools
which give them superior integration capabilities. CGS delivers
The
Composite Solution(R), an integrated suite of services reflecting a
broad range of technology
and business practices. TIE solutions are based on
years of EDI and XML experience giving TIE customers
the benefit of
true open trading. The financial figures in this
release are reported in U. The
Hummingbird Enterprise(TM) Client for
Microsoft Outlook raises the bar for how users will manage
content without
ever having to leave the familiar Microsoft Outlook desktop application. The diluted
loss per share of $0.8 million and diluted
earnings per share of $0.2 million as
at December 31
, 2004.
Operational Highlights
----------------------
Accelerated Traction
for Line-of-Business Content Life Cycle Solutions
------------------------------------------
----------------------------
The demand for Hummingbird's content life cycle solutions continues
to
accelerate.
CONSOLIDATED STATEMENTS OF CASH FLOWS U.S.64
----
---------------------------------------------------------------------
-----------------------
--------------------------------------------------
BASIC WEIGHTED AVERAGE
NUMBER OF SHARES
(in thousands) 17,500 17,595 17,482 17,573
------------
-------------------------------------------------------------
-------------------------------
------------------------------------------
ADJUSTED DILUTED WEIGHTED
AVERAGE NUMBER OF
SHARES
(in thousands) 17,637 17,811 17,599 17,755
-----
--------------------------------------------------------------------
------------------------
-------------------------------------------------
Note: The adjusted diluted weighted average
number of shares for the
three months and six months periods ended March 31, 2005 differs
from the number shown in the US GAAP Consolidated Statements of
Income, where
the diluted number of shares presented is impacted by
anti-dilutive provisions for both
periods.mis supposed
34 0.8 million, up from $70.
Adjusted net income for the current six months was
$9. Hummingbird is seeing
particular interest for its Contract Management solution in large diversified
enterprises where the number of contracts to be managed is in the tens of
thousands, and where
labour intensive activities to manage contracts
contribute to increasing costs of sales.21 $
0.negotiation magal
TIE has a broad customer base in the Netherlands,
Belgium, France and the USA and has a significant
market share in
Europe, Latin America and Asia.2) 2.07) 0. In addition, it is the primary
method that management uses to plan
and forecast the Company's results.S.1 million for the second
quarter of the previous fiscal year.1 million
for the first six months of fiscal 2005 compared to
the prior year.8 million compared
to $11.
CONSOLIDATED BALANCE SHEETS
U.clinger isworld
S. Adjusted net income should
not be considered in isolation and its presentation should
not be construed an
alternative to net income determined in accordance with U.8% increase.9 million
resulting in a diluted
loss per share of $0.
Summit 2005 - A Significant Success
-----------------------------------
Hummingbird's Summit event during the quarter was a significant
success,
with attendance up over 20% from the previous year.hummingbird.S.differentiated refereed
V.
Under this agreement
CGS will offer TIE's eVision solution as a
complimentary offering for eCommerce to CGS' solutions
.
TIE's solution, eVision, is a fully scaleable eCommerce system
that enables companies to connect
to either end of the value chain,
delivering business process information via XML, EDI or another
format.S. Hummingbird Enterprise
revenues for the quarter were $38.2 million, a 3.
Investors
are cautioned that these forward-looking statements are subject to
risks and uncertainties that may
cause future results to differ materially
from those expected.S. GAAP $ (1,213)
$ 2,068 $ (2,942) $ 771
Adjusted for:
Restructuring and
other
charges 3,485 - 10,918 -
Amortization of
intangibles
4,502 5,763 9,418 11,974
Income tax effect on
above
items (3,058) (1,797) (7,594) (3,594)
Deferred income tax rate
adjustments - increase - - - 2,141
----------------
---------------------------------------------------------
-----------------------------------
--------------------------------------
ADJUSTED NET INCOME $ 3,716 $ 6,034 $
9,800 $ 11,292
-------------------------------------------------------------------------
-------------------------------------------------------------------------
ADJUSTED BASIC EARNINGS
PER SHARE $ 0.differentiated clinger
We wanted a
'best-of-breed' Integration company and found
TIE to the industry
standard.3
Adjusted Diluted Earnings
Per Share
0.3% over the previous year. Over 860 people from 26
countries around the world attended
, and there was considerable representation
across all the Company's targeted industry segments.simha mis
("TIE") listed on the
EuroNext Amsterdam Stock Exchange hereby announces that Computer
Generated
Solutions, Inc. Total Sales of $54.3 Million; Hummingbird Enterprise Sales up 3.7 108.8
Adjusted Net Income (Note) 3. Litwin continued, "I am pleased to report that Hummingbird
announced
a number of important operational initiatives during the second quarter that
considerably
advance the Company's position in the enterprise content
management market.5 million as at December
31, 2004. Content
Drive represents a radical leap forward and marks a significant instance of
synergy
with the Company's legacy Connectivity business. GAAP
(thousands of U.
CONSOLIDATED STATEMENTS
OF INCOME U.17) $ 0.isworld widmeyer
eVision delivers seamless workflow, transaction, and
any-to-any data transformation management.cgsinc. http://xbrl. (TSX: "HUM"
and NASDAQ: "HUMC"
), a leading global provider of integrated enterprise
content management (ECM) solutions, today reported
its consolidated results
for the second quarter ended March 31, 2005. I'm particularly excited about
two fundamental innovations
in the next release of Hummingbird Enterprise(TM) that we believe will
considerably strengthen our market leadership.1 million, compared to the $17. Adjusted diluted earnings
per
share (based on adjusted net income) for this quarter were $0.S. This charge relates to the Company
's ongoing review of its
global operations to align costs with revenues, and to consider areas where
there is overlap related to historic acquisitions.9% to $81.
In addition, Network Computing
magazine recognized Hummingbird Enterprise
Collaboration as a top solution in comparison with collaboration
tools from
seven other vendors.
About Hummingbird
-----------------
Hummingbird
Ltd.S. GAAP
(thousands of U. GAAP
(thousands of U.$)
Three Months Ended Six Months Ended
March 31
March 31
2005 2004 2005 2004
---- ---- ---- ----
(Unaudited) (Unaudited) (Unaudited) (Unaudited)
CASH PROVIDED BY (USED IN)
OPERATING ACTIVITIES
Net (loss) income $ (1,213) $ 2,068 $ (2,942) $
771
Add (deduct) items not
affecting cash:
Amortization of
intangibles 4,502 5,763 9,418 11,974
Deferred income taxes
(2,232) (4,430) (4,438) (3,943)
Depreciation 896
950 1,763 1,892
Changes in operating
assets and liabilities:
Accounts receivable (89) (6,495) (1,213) (3,405)
Unbilled receivables
(44) (361) 239 (191)
Income taxes
recoverable/payable
(3,786) 825 (8,082) 3,692
Inventory (124)
34 (101) 8
Prepaid expenses and
other assets (1
,714) (2,142) (1,687) (2,001)
Other receivables (823) 2,187
(840) 1,542
Accounts payable and
accrued liabilities (1,815)
(3,431) 4,814 (4,032)
Deferred revenue 1,643 8,725 2,305
10,556
-------------------------------------------------------------------------
(4,799) 3,693 (764) 16,863
-------------------
------------------------------------------------------
INVESTING ACTIVITIES
Short-term
investments -
net (purchased) matured - (5,787) 4,943 (8,128)
Acquisitions - net of
cash acquired - - (822)
(810)
Additions to fixed assets (626) (981) (939) (1,988)
----
---------------------------------------------------------------------
(626) (6,768) 3,182 (10,926)
------------------------------------------
-------------------------------
FINANCING ACTIVITIES
Repayment of other
long
-term liabilities (49) (1,954) (108) (2,053)
Shares repurchased
- (1,234) - (1,234)
Issuance of shares 392 1,812
1,230 2,121
--------------------------------------------------------------------
-----
343 (1,376) 1,122 (1,166)
------
-------------------------------------------------------------------
(DECREASE) INCREASE IN CASH
AND CASH EQUIVALENTS (5,082) (4,451) 3,540 4,771
CASH AND CASH
EQUIVALENTS,
BEGINNING OF PERIOD 134,165 103,805 125,543 94,583
-------------------------------------------------------------------------
CASH AND CASH EQUIVALENTS
,
END OF PERIOD $ 129,083 $ 99,354 $ 129,083 $ 99,354
-----------
--------------------------------------------------------------
------------------------------
-------------------------------------------
SUPPLEMENTARY CASH FLOW
INFORMATION
Interest paid $ 33 $ 7 $ 36 $ 9
Income taxes paid
4,961 5,430 10,203 5,646
Interest received 601
378 1,305 620
HUMMINGBIRD LTD.auspices frameworks
S dollars except share data)
Three Months Ended Six Months Ended
March 31 March 31
2005
2004 2005 2004
---- ---- ----
----
Sales 54.0 million in the second quarter of last year
.12 for the similar quarter of the prior
year.64 for the prior year. Second, Hummingbird Enterprise
(TM) 2005 is designed to minimize
deployment complexities and lower cost of deployment over pre-existing
IT
infrastructure investments, to measurably reduce total cost of ownership. Hummingbird solutions
are
sold directly from 40 offices worldwide and through our Alliance Network of
partners and resellers
. Forward-looking statements are based on
assumptions made by and information currently available
to the Company.17) $ 0.21 $ 0.differentiated interlinked
8
-----------------------------------------------
--------------------------
Note: Adjusted Net Income comprises Net (Loss) Income excluding
amortization of intangibles, restructuring and other charges, and
deferred income
tax rate adjustments, net of related taxes.2% increase from the previous quarter. Adjusted net income
is not a recognized
profitability measure under U. GAAP, and the Company's method of calculating
adjusted net income may differ from, and accordingly may not be comparable to,
similarly titled
measures used by other companies. (TSX: HUM, NASDAQ: HUMC) is a leading global provider of
enterprise
software solutions.jessup auspices
12 (0.56 0. The fundamentals of our business remain strong, and we
continue
to be very confident in the positive growth prospects for
Hummingbird," said Barry Litwin, President
and Chief Executive Officer of
Hummingbird Ltd.
Operating expenses for the current quarter
, which exclude amortization of
intangibles and restructuring charges, were $42.56 compared to $0
. And
third, to enable organizational compliance with regulatory and enhanced
governance standards
, Hummingbird Enterprise(TM) 2005 provides a highly secure
framework in which to manage and reduce
risk by ensuring that critical
business content is always traceable and auditable. The Company's
Collaboration platform was ranked highly
for its advanced security features, ease of use, mobility
and instant
messaging capabilities and seamless integration with the overall Hummingbird
Enterprise
suite.auspices kemal
The
expanded solution will enable CGS customers to streamline EDI
processes and deliver
end-to-end supply chain visibility.Hummingbird reports second quarter FY2005 financial and operating
results
6 17.
Mr. Hummingbird is committed to continuing to deliver
compelling,
innovative and differentiated solutions that will help us to build
upon our leadership position in
the industry.34 for the corresponding period last year.3 million for the six months ended March 31,
2004.3 million, compared to
$371. Also during Summit the Company
unveiled Hummingbird Enterprise
(TM) 2005 that created a significant amount of
interest for attendees that previewed its innovative
new features. Such risks include, but are not limited to: the Company's
ability to secure underwriting
support and attract investors to its stock; the
Company's ability to introduce new products in a
timely manner and its ability
to generate demand for, and gain market acceptance of those products
in an
intensely competitive marketplace, where many of its competitors have
substantially greater
resources than the Company; the Company's ability to
maintain revenue growth at current levels or
anticipate a decline in revenue
from any of its products; the Company's ability to reduce its costs
to the
extent required to maintain profitability should revenue decline; the
Company's ability
to hire, train, and retain highly qualified personnel; the
Company's reliance on third party distribution
channels as part of its sales
and marketing strategy; and other risks detailed in the Company's various
securities filings with the Securities and Exchange Commission and Canadian
securities regulators
.S.S.34 $ 0.differentiated baskent
About Computer Generated Solutions, Inc.TIEglobal.4%;
Adjusted EPS $0
.
-------------------------------------------------------------------------
SUMMARY
OF FINANCIAL RESULTS U.0 9. We
maintained our position of profitability
on an adjusted net income basis in
the quarter, in spite of a modest shortfall in revenue on the
Connectivity
side of the company.
In addition, our solutions initiatives are yielding encouraging
growth
trends, reinforcing that they represent an important growth engine for the
Company.8 million
for
the second quarter last year. Deferred
revenue increased to $67. Content Drive(TM)
represents
a fundamental shift in enterprise content management architecture
that vastly improves performance
of content-based interactions between
Hummingbird Enterprise and Microsoft's content authoring applications
. Hummingbird's enterprise content management
(ECM) solutions enable organizations to manage the lifecycle
of enterprise
content from creation to disposition.com
Note to Investors
-----
------------
Forward-looking statements in this press release, including statements
relating
to the Company's capital structure, future sales growth,
profitability, competitive position and
release of new products are made
pursuant to the safe harbor provisions of the United States Private
Securities
Litigation Reform Act of 1995.$)
Six Months Ended
March 31
2005 2004
---- ----
(Unaudited) (Unaudited)
Retained earnings, beginning of period $ 98
,819 $ 94,640
Premium on shares repurchased - (754)
Net (loss) income for the period (2,942) 771
----------------
---------------------------------------------------------
Retained earnings, end of period
$ 95,877 $ 94,657
-------------------------------------------------------
------------------
-------------------------------------------------------------------------
HUMMINGBIRD LTD.$, except share data)
Three Months
Ended Six Months Ended
March 31 March 31
2005 2004 2005 2004
---- ---- ---- ----
(Unaudited)
(Unaudited) (Unaudited) (Unaudited)
SALES $ 54,256 $ 54,664
$ 108,156 $ 104,671
COST OF SALES 6,450 6,245 13,227 11,960
-------------------------------------------------------------------------
GROSS PROFIT
47,806 48,419 94,929 92,711
--------------------------------
-----------------------------------------
EXPENSES
Sales and marketing 25
,223 23,976 46,942 44,816
Research and development 11,695 9,982
22,399 19,919
General and administration 5,826 5,114 11,780 10,418
Restructuring and
other charges 3,485 - 10,918
-
Amortization of
intangibles 4,502 5,763 9,418
11,974
-------------------------------------------------------------------------
TOTAL EXPENSES 50,731 44,835 101,457 87,127
-------------------
------------------------------------------------------
OPERATING (LOSS) INCOME (2,925
) 3,584 (6,528) 5,584
INTEREST AND OTHER
INCOME, NET
655 309 1,269 566
----------------------------------------------
---------------------------
(LOSS) INCOME BEFORE
INCOME TAXES (2,270)
3,893 (5,259) 6,150
INCOME TAX (RECOVERY)
EXPENSE
(1,057) 1,825 (2,317) 5,379
------------------------------------------------
-------------------------
NET (LOSS) INCOME $ (1,213) $ 2,068 $ (2,942) $
771
-------------------------------------------------------------------------
------
-------------------------------------------------------------------
BASIC (LOSS) EARNINGS
PER SHARE $ (0.07) $ 0.
kemal contrasting
"
Dick Raman, CEO and President of TIE,
Said: "This is a very
important partnership for TIE. Established in 1984 and headquartered in New
York City ,
CGS maintains a presence in 20 locations around the globe, including
the United States
, Canada , and India .3 54.17) 0.5 17."
Financial Highlights
--------------------
Sales for the quarter ended March 31, 2005 were $54.
Adjusted net
income is presented because management considers it to be a
better metric to evaluate and compare
the quarterly performance of the
Company's core business, since it excludes certain non-cash and
non-recurring
expenses.5 million.17, compared to net income of $0. Adjusted diluted
earnings per
share for the current six months, based on adjusted net income,
was $0.
HUMMINGBIRD
LTD.S.07) $ 0.12 $ (0.auspices clinger
8 17.64
Adjusted Diluted Number
of Shares (millions
) 17.
The recently announced Hummingbird Content Drive(TM) represents a unique
competitive
differentiator that will provide order of magnitude improvements
in scalability and performance.
During the quarter, the company recorded restructuring charges of
$3.
Operating expenses
, which exclude amortization of intangibles, and
restructuring charges and other charges, increased
by 7. The net
loss for the current six month period was $2.
Upcoming New Release - Hummingbird
Enterprise(TM) 2005
------------------------------------------------------
Hummingbird
Enterprise(TM) 2005 further builds on the significant
capabilities of prior releases and is designed
to address three key market
requirements. Hummingbird is one of
only a few companies to have received
this honour for five consecutive years.12 $ (0.mis refereed
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