Vignette Exits 2005 With Fifth Consecutive Quarter Of Record
Non-GAAP Profitability
Momentum Continues as Company Exceeds High End of EPS Guidance
for Fourth Quarter
AUSTIN, Texas (January 26, 2006) Vignette Corporation today
announced financial results for the fourth quarter and fiscal year
ended December 31, 2005. Total revenue for the fourth quarter was
$50.9 million, up more than 7% from the prior quarter and up 4%
from the fourth quarter of 2004, with license revenue representing
$20.1 million of total revenue, an increase of 19% over the prior
quarter and 4% over the fourth quarter of 2004. For the year ended
December 31, 2005, total revenue was $190.7 million, a 7% increase
from fiscal year 2004, with license revenue representing $70.3
million of total revenue, a 11% increase from the previous
year.
On a GAAP basis, Vignette's net income was $2.9 million or $0.10
per share. Also on a GAAP basis, net income for the year was $20.4
million or $0.68 per diluted share.
Laptop Battery On a non-GAAP basis, Vignette's net income for the quarter was
$5.6 million or $0.19 per share. The non-GAAP net income for the
year was $14.6 million or $0.49 per diluted share. Non-GAAP results
exclude purchased in-process research and development,
acquisition-related and other charges, stock-based compensation
expenses, amortization of deferred stock compensation and certain
intangible assets, and one-time charges and gains. One-time charges
and gains generally include business restructuring-related,
investment and fixed asset impairment charges and gains.
laptop computers is driving strong sales for notebook computers, according to the latest quarterly sales figures from the research firm IDC, which reported a 37% computer sales for the second quarter, compared with a year earlier. In the U.S., laptop sales grew 17.7%, while sales of desktop computers and servers fell 4%. The New York Times ( 10), CNET ( 10)
Thinkpad A reconciliation of net income calculated in accordance with
generally accepted accounting principles (GAAP) and non-GAAP net
income is provided in the tables immediately following the
condensed consolidated balance sheets and a further
description of non-GAAP
adjustments can be found under the caption 'Non-GAAP Financial
Information' below.
VIGN 4Q05 Balance Sheet (9K)
VIGN 4Q05 GAAP Income Statement (11K)
VIGN 4Q05 Non-GAAP Income Statement (12K)
According to the indictment, Jones would steal various IBM and Penguin computer servers from Verisign's warehouse in Virginia and sell them to Johnson. Johnson would then sell the servers to several individuals, who would sometimes place them for sale on eBay. As a result of this scheme, the indictment alleges that Jones and Johnson caused Verisign to lose more than $120, 000 worth of computer equipment. In the indictment, Jones and Johnson are charged in three counts with causing the interstate transportation of stolen property, namely IBM 330 and 335 servers, in violation of 18 U.S.C.
Microsoft "Our record level of performance in the fourth quarter marks the
culmination of an exceptional year for this corporation," said
Thomas E. Hogan, president and chief executive officer at Vignette.
"Not only did we exceed expectations for revenue and net income,
our 11% bottom line non-GAAP margin broke through double-digits for
the first time. While we are clearly pleased with our financial
progress, our greatest enthusiasm lies with our future. The desire
to better leverage content for increased revenue, and improved
productivity, governance, service and efficiency, is reaching a new
apex with our prospects and clients. The best is yet to come for
this corporation and our ability to better serve our valued
clients. We are entering 2006 with commensurate levels of momentum
and optimism."
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Laptop Computers Industry Recognition
In November Vignette received a "Strong Positive" rating by
Gartner, Inc. in its recent "MarketScope for Web Content
Management, 2005." Vignette was one of 16 vendors evaluated for the
report and received the analyst firm's highest possible ranking of
"Strong Positive." Gartner considers companies receiving a "Strong
Positive" rating to be "solid providers of strategic products,
services or solutions" and recommends that existing customers
"continue investments" while potential customers "consider the
vendor as a strong strategic choice." The piece of research is
based on the growing adoption of Enterprise Content Management
(ECM) solutions in the Fortune 1000 and Gartner's belief that 80
percent of enterprises will augment ECM systems with additional
leading-edge Web Content Management (WCM) capabilities through
2007.
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Laptop Computer In December, Vignette announced that respected industry trade
publication DM Review awarded it the publication's Readership Merit
Award, based on feedback from its more than 75,000 subscribers. The
award recognizes the products and services DM Review readers have
successfully deployed and rely on to achieve a competitive
edge.
In a separate release, Stamps.com today announced fourth quarter revenue grew 41% versus the same quarter last year, and that it currently anticipates profitability beginning in the first quarter of 2005.
Desktop Computer Citing increased license revenue and a renewed corporate
momentum, in December the Austin Business Journal named Vignette as
its Comeback Company of 2005.
Notebooks Executive Leadership Additions
During the quarter Vignette added two industry veterans to its
executive leadership team. Larry Warnock and David Crean bring to
the company deep relevant expertise in their respective fields.
Lenovo Larry Warnock was named as chief
marketing officer. Warnock
brings to Vignette more than 20 years of enterprise software
marketing experience including vice president roles at
Documentum and Siebel Systems. At Vignette, he now has
responsibilities for global corporate marketing and
communications, field marketing and demand generation, and the
charge to increase the company's overall visibility in its key
markets.
Hard Drive David Crean joined the company in October as vice president and
general manager of the HealthCare solutions unit. Crean comes to
Vignette after a seventeen-year career at healthcare information
technology company McKesson Corporation, where he was most recently
vice president and general manager of patient solutions. At
Vignette, he is responsible for the go-to-market, product and
marketing direction and strategies of the healthcare team, and is
helping the company capitalize on its emerging leadership in the
healthcare market.
Travelstar General Availability of Vignette Collaboration release 7.0
Vignette announced the general availability of Vignette
Collaboration release 7.0 in December. This product is the latest
version of its leading enterprise collaboration product that helps
manage organizational processes and critical business functions by
bridging information silos to create the de facto place where
people work. Vignette Collaboration provides organizations with the
ability to exploit the power of the "extended enterprise" by
empowering employees, customers and partners to work together in a
dynamic information network that has no visible seams between
internal and external resources.
Gateway Vignette Village 2005
During the quarter, Vignette hosted its most successful series of
worldwide Vignette Village user's conferences to date. More than
1,600 current and prospective customers, partners, analysts and
members of the media came together at the events in Dallas, London,
Sydney and Lisbon to hear about Vignette's vision for Enterprise
Content Management.
Laptop Parts Also during the shows, Vignette recognized the winners of its
second annual Vignette Efficiency Awards program. The awards are
given yearly to leading organizations that use Vignette's
Enterprise Content Management products and services to drive
business efficiency and organizational value. This year's winners
were H&R Block, The Royal Bank of Scotland, MBF of Australia,
JPMorgan Chase, Safeway, Ohio National Financial Services, Caminhos
de Ferro Portuguese, GCI Group, South African Broadcasting
Corporation, Intermountain Healthcare, Hennepin County, Minnesota,
Houston Independent School System, Geisinger Health Systems and the
Driver and Vehicle Licensing Agency.
Software Customers
Vignette recognized orders from new and existing customers during
the quarter including Comprehensive Health Management Inc.,
Mcgraw-Hill Companies Inc, Johnson & Johnson Pharmaceutical
Research & Development LLC, Expedia, Centerpoint Energy
Services Co, Methodist Healthcare, The New York Times Company,
Australian Unity Group Services Pty Ltd, Bank Of America, Galileo
International LLC, Regents Of The University Of California,
Cingular Wireless, Genentech INC, NASA, Sun Microsystems, Wescorp,
Grant Thornton, Vanguard Car Rental USA INC, Safeway, University Of
Utah, Barclays Global Investors, Fallon Clinic, California State
Automobile Association, Pepsico Inc, DaimlerChrysler De Mexico and
BankBoston
Hard Drives 1Q 2006 Financial Outlook
Vignette currently anticipates first quarter 2006 revenue to be
between $45.0 million and $48.0 million. First quarter 2006 GAAP
net income is currently expected to be between $(0.03) and $0.01
per share. On a non-GAAP basis, excluding the charges detailed
below in the 'Non-GAAP Financial Information' section, the company
expects first quarter 2006 net income to be between $0.09 and $0.13
per share. For a discussion of factors that could cause actual
results to differ materially from these targets, see
'Forward-Looking Statements' below.
Electronics Conference Call Details
Vignette will host a conference call and live webcast regarding
its fourth quarter and fiscal year 2005 financial results at 5:00
p.m. EST this afternoon. To access the webcast, visit the Investor
Relations section of Vignette's website. If you are not able to
access the live webcast, dial-in information is as follows:
Canon Dial-in number: (612) 288-0329
Call title: Vignette Financial Results
Desktop Pc The webcast and conference call will be archived and available
for replay from Thursday, January 26, 2006, at 8:30 p.m. EST to
Wednesday, February 1, 2006, at 12:59 a.m. EST. The replay
information is as follows:
Desktop Computers Toll-free number: (800) 475-6701
International number: (320) 365-3844
Access code: 813939
Think Pad Non-GAAP Financial Information
Non-GAAP results exclude purchased in-process research and
development, acquisition-related and other charges, stock-based
compensation expenses, amortization of deferred stock compensation
and certain intangible assets, and other one-time charges and
gains. One-time charges and gains generally include business
restructuring-related, investment and fixed asset impairment
charges and gains. A reconciliation of non-GAAP results to
generally accepted accounting principles ("GAAP") is provided in
the tables immediately following the consolidated balance sheet
below. Vignette believes non-GAAP financial information provides a
more accurate representation of the company's financial performance
and uses non-GAAP information internally to evaluate and manage the
company's operations. The presentation of this additional
information is not a substitute for results prepared in accordance
with accounting principles generally accepted in the United
States.
Repair About Vignette Corporation
Vignette's software and expertise help organizations harness the
power of information and the Web for measurable improvements in
business efficiency. As the efficiency experts, Vignette (Nasdaq:
VIGN) helps organizations increase productivity, reduce costs,
improve user experiences and manage risk. Vignette's intranet,
extranet and Internet solutions incorporate portal, integration,
enterprise content management and collaboration capabilities that
can rapidly deliver unique advantages through an open, scalable and
adaptable architecture that integrates with legacy systems.
Vignette is headquartered in Austin, Texas, with local operations
worldwide. Visit http://www.vignette.com/ to see how Vignette
customers achieve measurable improvements in business efficiency
and to find out why more companies prefer Vignette.
Data Recovery FORWARD-LOOKING STATEMENTS
This document contains forward-looking statements that involve
risks and uncertainties concerning the company, including the
company's expected performance for the first quarter 2006. Actual
events or results may differ materially from those described in
this document due to a number of risks and uncertainties. These
risks and uncertainties include, among others, the company's
ability to attract and retain existing and/or new customers; the
company's ability to issue new products or releases of solutions
that meet customers' needs or achieve acceptance by the company's
customers; changes to current accounting policies which may have a
significant, adverse impact upon the company's financial results;
the introduction of new products by competitors or the entry of new
competitors on the company's products; the company's ability to
preserve its key strategic relationships; the company's ability to
hire and retain key employees; and economic and political
conditions in the US and abroad. All of these factors may result in
significant fluctuations in the company's quarterly operating
results and/or its ability to sustain or increase its
profitability. More about potential factors that could affect the
company's business and financial results is included in Vignette's
Form 10-K for the year ended December 31, 2004, which is on file
with the SEC and available at the SEC's website at www.sec.gov.
Vignette is not obligated to update these forward-looking
statements to reflect events or circumstances after the date of
this document.
Cisco Vignette, the V Logo, e:fficiency, and e:fficiency experts are
trademarks or registered trademarks of Vignette Corporation in the
United States and other countries.
Keyboard Source: Vignette
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