CE Software, Inc. - Press Releases & Announcements

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FOR IMMEDIATE RELEASE

Company Contact:

John S. Kirk
President
CE Software, Inc.
john.kirk@cesoft.com
(515) 221-1801

 

CE Software, Inc. Reports Fourth-Quarter and Year-End Results

 

WEST DES MOINES, Iowa, January 12, 2001 -- CE SOFTWARE, INC. (OTCBB Symbol: CESW) today announced results for its fourth quarter and fiscal year ended September 30, 2000.

CE Software reports a net loss of $53,000, or $0.05 per share, for its fourth quarter of fiscal 2000 on revenues of $653,000. The preceding quarter saw a net loss of $74,000, or $0.07 per share, on operating revenues of $752,000. For the same quarter a year ago, the company reported a net loss of $625,000, or $0.55 per share, on operating revenues of $992,000. The fourth quarter a year ago included a net loss of $395,000 from securities received in the sale of a subsidiary in 1998.

For the fiscal year 2000, CE Software reports a net loss of $484,000, or $0.43 per share, with operating revenues of $3,055,000. For the previous fiscal year, the net loss was $1,449,000, or $1.28 per share, on operating revenues of $3,788,000. The loss for the previous fiscal year included a $553,000 loss on sale of securities received in the sale of a subsidiary in 1998. The loss for fiscal year 2000 includes expenses associated with restructuring operations and with the Company's spin off from CE Software Holdings, Inc. just prior to CE Software Holdings' April 28, 2000 merger with Lightning Rod Software, Inc.

"The company continues to experience declining revenue from its e-mail software due to competition from free products," said John S. Kirk, president of CE Software, Inc. "We are continuing development on our e-mail software while concentrating most of our development efforts on our desktop productivity product, QuicKeys, as well as new products."

Since 1981, CE Software, Inc. has developed automation utilities and e-mail software that save time and effort for millions of Microsoft Windows 95/98, Windows NT/2000 and Macintosh users. For more information: (515) 221-1801 or www.cesoft.com. [now www3.cesoft.com]

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© Copyright 2000 CE Software, Inc. All rights reserved. QuickMail, QuicKeys, CE Software, CE and the CE Software logo are trademarks of CE Software, Inc. All other brand or product names are trademarks of their respective owners.

CE SOFTWARE, INC.
Condensed Statements of Operations
(In thousands, except per share data)

 

Three months ended
September 30

Fiscal Year ended
September 30

 

2000


1999


2000


1999


 
Net revenues

$653

$992

$3,055

$3,788

Cost of revenues

81


274


661


881


   Gross profit

572

718

2,394

2,907

         
Sales and marketing

$196

$380

$862

$1,714

General and administrative

$279

$347

$1,355

$1,397

Research and development

$156


$216


$664


$1,110


   Operating Expenses

$631

$943

$2,881

$4,221

 
   Operating income (loss)



(59)



(225)



(487)



(1,314)
 
Other income (expense):
  Loss on sale of investments, net

(1)

(555)

(1)

(553)

  Loss on sale of property, fixtures and
     equipment

0

0

0

(25)

  Change in market value of trading
     securities

0

160

0

0

  Interest income

9

2

17

4

  Interest expense

(5)

(7)

(23)

(34)

  Miscellaneous

3


0


10


0


  Earnings (loss) before income taxes

(53)

(625)

(484)

(1,922)

 
Income tax expense (benefit)

(0)


(0)


(0)


(473)


Net earnings (loss)

$(53)


$(625)


$(484)


$(1,449)


 
Net earnings (loss) per share

$(0.05)

$(0.55)

$(0.43)

$(1.28)

 
Average common shares outstanding

1,138

1,131

1,132

1,131

         
     

September 30

     

2000


1999


         
Total Assets    

$2,785

$2,893

Total Liabilities    

572

1,645

Total stockholders' equity    

2,213

1,248

Cash and investments    

787

227

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