For Immediate Release
John S. Kirk
President CE Software, Inc.
CE Software, Inc. Reports Second-Quarter Results
West Des Moines, Iowa, June 13, 2000 -- CE SOFTWARE, INC. today announced
financial results for its second quarter ended March 31, 2000.
The company reports a net loss of $305,000, or $0.27 per share, for the quarter.
The same quarter a year ago saw a net loss of $758,000, or $0.67 per share. Revenues
were $735,000 for the quarter ended March 31, 2000, compared to $580,000 for the
same quarter a year ago.
A major reason for the loss in last year's second quarter was because CE Software's
stock holdings in Documentum, Inc. experienced an unrealized loss of $455,000 due
to a significant decline in the trading securities value. Documentum stock was volatile
and its price declined 68 percent between December 31, 1998 and March 31, 1999.
The financial performance for this quarter was affected by two principal factors.
First, sales were impacted by a non-recurring inventory adjustment by CE Software,
Inc.'s largest distributor, which resulted in the unanticipated return of the company's
products. Secondly, expenses associated with restructuring operations and with the
Company's spin off from CE Software Holdings, Inc. just prior to CE Software Holdings'
merger with Lightning Rod Software, Inc. contributed to larger than normal levels
"We've had numerous expenses associated with the merger," said John S.
Kirk, president of CE Software, Inc. "The merger and
spin off were completed April 28, 2000. Each CE Software Holdings, Inc. shareholder
immediately prior to the merger at the close of business on that date will receive
one share of CE Software, Inc. stock for each share of CE Software Holdings, Inc.
stock. This distribution is expected to be accomplished very soon."
Since 1981 CE Software, Inc. has developed automation utilities and E-mail software
that save time and effort for millions of Microsoft Windows 95/98/00, Windows NT
and Macintosh users. For more information: (515) 221-1801 or www.cesoft.com.
This release contains forward-looking information that is subject
to certain risks, trends and uncertainties and actual developments may differ materially
from those projected. For a discussion of important factors that could affect the
Company's results, the reader is encouraged to refer to the Company's Form 10-SB
and quarterly Form 10-QSB.
CE Software, Inc.
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 and
Macintosh users. For more information: (515) 221-1801 or www.cesoft.com.
Copyright 2000 CE Software, Inc. All rights reserved. CE Software, CE and the CE
Software logo are trademarks. QuicKeys is a registered trademark of CE Software,
Inc. All other brand or product names are trademarks of their respective owners.