Ascential (NASDAQ:ASCL)
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Ascential Software Reports Fourth Quarter Total Revenue of $78.2
Million and License Revenue of $33.5 Million; 2004 Total Revenue Climbs 46
Percent Over 2003 to $271.9 Million
WESTBORO, Mass., Feb. 3 /PRNewswire-FirstCall/ -- Ascential Software
Corporation (NASDAQ:ASCL), the enterprise data integration leader, today
announced results for the fourth quarter and year ended December 31, 2004.
On a GAAP basis, fourth quarter 2004 revenue rose 21 percent to $78.2 million
from $64.5 million in the fourth quarter of 2003, and up 16 percent from the
third quarter of 2004. License revenue increased 12 percent to $33.5 million in
the fourth quarter of 2004, up from $30.0 million of license revenue reported
in the fourth quarter of last year, and up 23 percent from $27.2 million the
third quarter of 2004. Net income, which included a tax benefit of $2.4
million, was $9.0 million, or $0.15 per share (including the tax benefit of
$0.04 per share), diluted, for the fourth quarter of 2004, compared with net
income of $17.3 million (including a tax benefit of $16.5 million), or $0.28
per share (including the tax benefit of $0.27 per share), diluted, in the
fourth quarter of 2003, and net income of $2.3 million, or $0.04 per share,
diluted, in the third quarter of 2004.
On a pro forma basis, as described below, net income increased 48 percent
year-over-year to $8.3 million, or $0.14 per share, diluted, in the fourth
quarter of 2004, compared with pro forma net income of $5.6 million, or $0.09
per share, diluted, in the fourth quarter of 2003, and up 89% from $4.4
million, or $0.07 per share, diluted, in the third quarter of 2004.
For the year ended December 31, 2004, on a GAAP basis, total revenue increased
46 percent to $271.9 million, including $110.2 million in license revenue,
compared with total revenue of $185.6 million, including $92.6 million in
license revenue, in the prior year. Net income for 2004, which included a tax
benefit of $2.4 million, was $15.0 million, or $0.25 per share (including the
tax benefit of $0.04 per share), diluted, compared with net income of $15.8
million (including the tax benefit of $16.5 million), or $0.26 per share
(including the tax benefit of $0.28 per share), diluted, in the prior year.
On a pro forma basis, 2004 net income increased 49 percent to $20.2 million, or
$0.33 per share, diluted, compared with pro forma net income of $13.6 million,
or $0.23 per share, diluted, in the prior year.
At December 31, 2004, the company had $480.7 million in cash, cash equivalents
and short-term investments, an increase of $9.2 million from September 30,
2004.
"We are very pleased with our fourth quarter results and the significant
achievements we have made in 2004," commented Peter Gyenes, Ascential Software
chairman and chief executive officer. "Our results cap a year exemplified by
strong revenue growth of 46 percent year-over-year, much increased operating
profitability, and the delivery of innovative new products and services
unmatched in the market. Over the past twelve months we increased investment in
critical operational areas to capture a greater share of the growing data
integration market, expand the use of our products, sustain momentum, and
extend our competitive advantage. Our superior performance reflects the
strategic importance of enterprise data integration and an increasing market
preference for our solution over our competitors' because we have the only
complete end-to-end platform solution for enterprise data integration available
in the marketplace. We are leveraging this growth into greater profitability,
and plan to continue to do so throughout 2005 and beyond."
Highlights:
-- Signed 79 new customers and expanded our presence with 170 existing
customers, including: 7-Eleven, Acxiom, AGFirst Farm Credit Bank,
Amazon.com, American International Group, Blue Cross/Blue Shield of
Massachusetts, Blue Cross/Blue Shield of Tennessee, BNP Paribas,
Boeing, Cazenove, Chevron Texaco, Children's Hospitals and Clinics, CIT
Group, Cross Country Healthcare, DHL, Equifax, Hitachi America,
Imperial Tobacco, Lawson Software, Lloyds TSB Registrars, Mary Kay,
MCI, Metropolitan Health Plan, MTS Allstream, Nokia, Paramount
Pictures, Pfizer, Port of Rotterdam, Pulte Homes, Quest Diagnostics,
The Scripps Research Institute, Siemens, Sony Pictures, Stanley Works,
Starbucks, Viacom International, Wachovia, Wellington Management,
Winn-Dixie, Workcover Authority of New South Wales, Yellow Pages Group
and Zions Management Services.
-- Set record attendance at Ascential World 2004, the global enterprise
data integration conference, more than doubling the number of customer
and partner attendees from the prior year. The company introduced
numerous enhancements to the Ascential Enterprise Integration
Suite(TM), and provided a preview of new functionality that will be
part of product releases scheduled for later in 2005, to an audience of
more than 700 customers, partners, analysts, media, and industry
experts. As part of this three day event, thirty customers presented
case studies highlighting the wide-ranging data integration successes
they achieved using the Ascential Enterprise Integration Suite. These
customers included 7-Eleven, ABN Amro, Acxiom, Blue Cross/Blue Shield
of Tennessee, DHL, Eli Lilly & Company, General Motors, International
Truck & Engine, Mandalay Resort Group, MGM Mirage, Owens Corning and
Skyworks Solutions. In addition, twenty-seven partners exhibited their
complementary capabilities to this universe of Ascential Software
customers.
-- Strengthened and expanded our strategic alliance with IBM, as
highlighted by milestones including the following:
* Continued to increase business with IBM, including project
deployments at Amadeus Global Travel Distribution, National Bank of
Canada, the Philadelphia School District, the State of New Jersey,
Wachovia and the Workcover Authority of New South Wales.
* Introduced Janet Perna, general manager of IBM Information
Management Software, to present the keynote address at Ascential
World 2004. Ms. Perna described how companies can tap the power of
integrated information to achieve faster insight and improved
business processes through IBM and Ascential Software solutions.
* Continued to expand IBM Business Consulting (BCS) relationship, with
significant momentum in five industry sectors: Communications,
Distribution, Financial Services, Industrial and the Public Sector.
This momentum is measured by growth in active accounts in the
companies' joint pipeline, joint sales and solutions delivery to
mutual clients, key senior management and operational leadership
relationships established in BCS practices, and the education and
training of BCS personnel. Recent wins with BCS include Wachovia,
China Construction Bank and the National Bank of Canada.
* Establishment of an Ascential Center of Competency in the IBM
Application Innovation Services (AIS) group, which serves as a
central technology solutions resource to the IBM BCS vertical
industry practices. The AIS national enterprise application
integration practice is expanding its range of services to include a
comprehensive set of data integration and business integration
services. This important initiative was announced at the Ascential
Sales Kickoff in January by Marty Marut, BCS partner and the North
American practice leader for the AIS Business Integration practice.
-- Expanded research and development resources through the acquisition of
iNuCom, a software development group in Hyderabad, India. We are
expanding our product development resources in this location, as well
as adding professional services capabilities to further support our
growing customer base in the Asia/Pacific region. This addition to
Ascential Software's development and services resources broadens
Ascential Software's global engineering presence to all major
international regions and bolsters the company's access to technical
talent wherever and whenever it is needed.
-- Continued to see further expansion of business in the large and
emerging market in China. The Ascential Software installed base in
China now exceeds 100 customers, including six of the country's
10 major banks, and all of the country's four telecommunications
companies. Chinese customers include Bank of China, Bank of
Communications, China Construction Bank, China Ever Bright Bank, China
Min Seng Bank, China Mobile, China Netcom, China Telecom, China Unicom,
Tom Group, Shanghai General Motors and Shanghai PuDong Development
Bank.
-- Expanded reseller and OEM alliances:
* Cognos announced it is extending its open data strategy for
enterprise reporting to support business intelligence
standardization by integrating Ascential MetaBroker(R) with Cognos
ReportNet(TM), to help customers derive maximum value from their
corporate data and drive corporate performance management.
* Entered into a worldwide reseller agreement with Ariba, a leading
provider of spend management solutions, whereby Ariba will resell
Ascential DataStage(TM) and Ascential Packaged Application
Connectivity Kits (PACKs) for SAP with Ariba Analysis, a component
of Ariba's Spend Management solutions.
* Entered into a multi-year OEM agreement with the Health Solutions
Division of McKesson Corporation, to embed Ascential products into
McKesson's CareEnhance(TM) solutions, which help healthcare
organizations to enhance quality of care while managing costs.
* Announced a strategic alliance with SMC Computers SRL, a leading
Italian software company specializing in enterprise resource
planning (ERP) solutions, whereby Ascential Software data
integration solutions will be embedded in PRACTOR(R) X-Enterprise,
SMC's extended ERP system.
* Announced a strategic alliance with TXT e-solutions, the European
leader in software solutions for extended supply chain management,
whereby Ascential Software's solution for analytical, operational,
and transactional data transformation can be embedded within the TXT
SC&CM (supply chain and customer management) suite. The agreement
also provides for migration to additional data integration solutions
from Ascential Software, including products for data profiling, data
quality, meta data management, and parallel execution.
* Announced a reseller agreement with Merlin Technical Solutions,
Inc., a solutions provider serving federal agencies and state and
local governments, whereby Merlin will provide professional services
on data integration solutions for its public sector clients using
the Ascential Enterprise Integration Suite. This agreement will
empower Merlin's public sector customers to successfully tackle the
most significant data integration challenges.
Outlook and Guidance
For the full year 2005, the company currently anticipates total revenue in the
range of $300 million to $315 million, an increase of approximately 10% to 15%
with license revenue growth accelerating to a range of 15% to 20% above 2004
results. For the first quarter of 2005, taking into account normal first
quarter seasonality, revenue is anticipated to be in the range of $72 million
to $74 million, compared with $61.4 million in the first quarter of 2004.
License revenue is anticipated to be in the range of $29 million to $30
million, compared with $24.6 million in the first quarter of 2004.
Total costs and expenses in the first quarter of 2005 are anticipated to be
about $1.0 million to $2.0 million below fourth quarter 2004 costs and
expenses, barring unforeseen circumstances. Total costs and expenses are
expected to increase gradually from anticipated first quarter 2005 levels, to
about $3 million higher by the fourth quarter of 2005. Interest income is
expected to be approximately $2.5 million per quarter, and the anticipated tax
rate for 2005 is 33%.
"We enter 2005 with confidence in our business and in our prospects for revenue
growth and margin expansion," said Pete Fiore, president of Ascential Software.
"Market demand remains strong because organizations are investing in data
integration software to achieve strategic business initiatives. We are
capitalizing on these market opportunities with the industry's most complete
data integration solution -- the Ascential Enterprise Integration Suite, an
expanded, experienced, and more productive sales force led by stable and proven
field management and an outstanding partner network that reinforces our market
visibility and enhances our ability to execute and drive customer commitments.
We anticipate increased operating leverage driven by revenue growth based on
our investments, an improving revenue mix with greater software license
contribution and the differentiation of our product suite further strengthened
by new product cycles at the end of 2004 and continuing in 2005. This momentum
should position us to enter into our target range of 17-25% operating margins
during the course of 2006."
The company believes that the pro forma results described in this release are
useful for an understanding of its ongoing operations because GAAP results
include expenses unrelated to the company's ongoing data integration business,
as well as the non-cash charges associated with the amortization of purchased
intangibles and stock-based compensation. Management of the company uses these
pro forma results to compare the company's performance to that of prior periods
for analysis of trends, and to evaluate the company's financial strength,
develop budgets, manage expenditures, and develop a financial outlook. Pro
forma results are supplemental and are not intended as a substitute for GAAP
results. Relative to GAAP, pro forma results described in this release exclude
the following items, net of associated taxes: amortization of purchased
intangibles, such as developed technology and customer lists; in process
research and development; amortization of stock- based compensation;
non-recurring acquisition-related transition expenses, net of any associated
credits; a litigation settlement; non-recurring tax benefits; and revenue,
expenses and other items related to divested business operations. An assumed
tax rate of 24% for the fourth quarter of 2004 and 30% for the fourth quarter
of 2003 has been used in calculating the tax provisions related to pro forma
results, which excludes non-recurring tax benefits included in the GAAP tax
provisions.
Conference Call
Management will host a conference call at 5:00 PM (EST) today to discuss the
company's operating performance and results. The conference call will be
broadcast live through a link on the Investor Relations page on the Ascential
Software web site at http://www.ascential.com/investors. Please go to the web
site at least fifteen minutes prior to the call to register, download and
install any necessary audio software.
For those who cannot attend the live broadcast, a replay will be available on
the web site at http://www.ascential.com/investors or by calling (866) 369-3645
beginning about two hours after the call ends.
About Ascential Software
Ascential Software Corporation (NASDAQ:ASCL) is the leader in enterprise data
integration. Customers and partners worldwide use the Ascential Enterprise
Integration Suite to confidently transform data into accurate, reliable and
complete business information to improve operational performance and
decision-making across every critical business dimension. Our comprehensive
end-to-end solutions provide on demand data integration complemented by our
professional services, industry expertise, and methodologies.
Ascential Software is headquartered in Westboro, Mass., and has more than 3,000
customers and partners globally across such industries as financial services
and banking, insurance, healthcare, retail, manufacturing, consumer packaged
goods, telecommunications and government. For more information call
1-800-966-9875 (508-366-3888 if calling from outside the U.S. or Canada) or
visit the Ascential Software website at http://www.ascential.com/.
Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995: This release contains forward-looking statements based on current
expectations or beliefs, as well as a number of assumptions about future
events, and these statements are subject to important factors and uncertainties
that could cause actual results to differ materially from those described in
the forward-looking statements. The forward-looking statements in this release
address a variety of subjects including, for example, the functionality,
characteristics, quality and performance capabilities of Ascential Software's
products and technology; results achievable and benefits attainable through
deployment of Ascential Software's products and provision of services; product
and service innovation; investment increases and the impact thereof; market
share growth; market growth; market demand; sales force productivity; operating
leverage; improvements in revenue mix; new product cycles; increased
profitability; impact of strategic alliances; customer base expansion; reseller
and OEM alliance expansion; and projected financial measures including
anticipated revenue, license revenue, costs and expenses, interest income, tax
rate, and changes therein. The following factors, among others, could cause
actual results to differ materially from those described in these
forward-looking statements: the closing of the company's books and customary
quarter end accounting procedures; the ability of Ascential Software to expand
its market share; growth rates for the enterprise data integration software
market; general business conditions in the software industry, the technology
sector, and in the domestic and international economies; rapid technological
change in the markets served by Ascential Software; dependence on international
operations; global and geopolitical instability; compliance costs associated
with regulations to which the company is subject, including the Sarbanes-Oxley
Act of 2002, and the impact of such regulations; and difficulties that
Ascential Software may experience integrating technologies, operations and
personnel of completed or future acquisitions. For a detailed discussion of
these and other cautionary statements, please refer to the filings made by
Ascential Software with the Securities and Exchange Commission, including,
without limitation, the most recent Quarterly Report on Form 10-Q. Ascential
Software disclaims any intent or obligation to update any forward-looking
statements made herein to reflect any change in Ascential Software's
expectations with regard thereto or any change in events, conditions, or
circumstances on which such statements are based. Ascential Software is not
responsible for statements attributed to third parties within this release or
in any materials referenced herein.
Ascential, Ascential DataStage, and Ascential Enterprise Integration Suite are
trademarks of Ascential Software Corporation or its affiliates and may be
registered in the United States or other jurisdictions. Other marks are the
property of the owners of those marks.
ASCENTIAL SOFTWARE CORPORATION
PRO FORMA UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
Three Months Ended Three Months Ended
December 31, December 31,
2004 2003
GAAP Adjustments Pro Forma GAAP Adjustments Pro Forma
(1) Adjusted (1) Adjusted
NET REVENUE
Licenses $33,494 $ - $33,494 $30,011 $ - $30,011
Services 44,669 - 44,669 34,461 - 34,461
78,163 - 78,163 64,472 - 64,472
COSTS AND EXPENSES
Cost of
licenses 4,114 (1,347) 2,767 4,463 (1,463) 3,000
Cost of
services 20,075 (470) 19,605 13,644 (1,055) 12,589
Sales and
marketing 30,143 (54) 30,089 26,875 (587) 26,288
Research and
development 9,912 (51) 9,861 9,801 (376) 9,425
General and
administrative 9,130 (1,124) 8,006 10,995 (3,937) 7,058
Merger,
realignment
and other
charges (184) 184 - 1,771 (1,771) -
In-process
research and
development - - - - - -
73,190 (2,862) 70,328 67,549 (9,189) 58,360
Operating
income
(loss) 4,973 2,862 7,835 (3,077) 9,189 6,112
OTHER INCOME (EXPENSE)
Interest
income, net 2,836 - 2,836 2,076 - 2,076
Other, net 913 (638) 275 1,850 (1,989) (139)
INCOME BEFORE
INCOME TAXES 8,722 2,224 10,946 849 7,200 8,049
Income tax
expense
(benefit) (302) 2,929 2,627 (16,494) 18,909 2,415
NET INCOME $9,024 $ (705) $ 8,319 $17,343 $(11,709) $5,634
NET INCOME
PER SHARE
Basic $0.15 $0.14 $0.29 $0.09
Diluted $0.15 $0.14 $0.28 $0.09
SHARES USED IN
PER SHARE
CALCULATIONS
Basic 58,759 58,759 59,541 59,541
Diluted 59,561 59,561 62,115 62,115
(1) The following table summarizes the adjustments for the respective
periods presented:
Three Months Three Months
Ended Ended
December 31, December 31,
2004 2003
Net income, GAAP $9,024 $17,343
Mercator transition activity 30 3,587
Database transaction and transition costs 788 200
Amortization of acquired intangibles 1,758 2,273
Stock based compensation charges 199 211
Merger, realignment and other charges,
excluding database 87 929
Foreign exchange gains on
liquidation of subsidiaries (638) -
Income tax benefit (2) (3) (2,929) (18,909)
Pro forma adjusted net income $8,319 $5,634
(2) The income tax benefit included in pro forma adjustments in the three
months ended December 31, 2004 includes a $2.4 million non-recurring
benefit ($0.04 per share based on diluted shares of 59,561).
(3) The income tax benefit included in pro forma adjustments in the three
months ended December 31, 2003 includes a $16.5 million non-recurring
benefit ($0.27 per share based on diluted shares of 62,115).
ASCENTIAL SOFTWARE CORPORATION
PRO FORMA UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
Year Ended Year Ended
December 31, December 31,
2004 2003
GAAP Adjustments Pro Forma GAAP Adjustments Pro Forma
(1) Adjusted (1) Adjusted
NET REVENUE
Licenses $110,241 $ - $110,241 $92,550 $ - $92,550
Services 161,638 - 161,638 93,036 (176) 92,860
271,879 - 271,879 185,586 (176) 185,410
COSTS AND EXPENSES
Cost of
licenses 16,833 (5,735) 11,098 15,291 (4,899) 10,392
Cost of
services 70,098 (2,097) 68,001 40,050 (1,765) 38,285
Sales and
marketing 110,646 (305) 110,341 79,950 (1,416) 78,534
Research and
development 39,259 (227) 39,032 27,515 (725) 26,790
General and
administrative 28,168 (1,646) 26,522 30,838 (7,384) 23,454
Merger,
realignment
and other
charges 823 (823) - 3,857 (3,857) -
In-process
research and
development - - - 2,000 (2,000) -
265,827 (10,833) 254,994 199,501 (22,046) 177,455
Operating
income (loss) 6,052 10,833 16,885 (13,915) 21,870 7,955
OTHER INCOME
Interest income 8,955 - 8,955 10,922 - 10,922
Other, net 1,514 (638) 876 2,502 (1,989) 513
INCOME (LOSS)
BEFORE INCOME
TAXES 16,521 10,195 26,716 (491) 19,881 19,390
Income tax
expense
(benefit) 1,570 4,902 6,472 (16,296) 22,115 5,819
NET INCOME $14,951 $ 5,293 $ 20,244 $15,805 $ (2,234) $ 13,571
NET INCOME PER SHARE
Basic $0.25 $0.34 $0.27 $0.23
Diluted $0.25 $0.33 $0.26 $0.23
SHARES USED
IN PER SHARE
CALCULATIONS
Basic 59,208 59,208 58,409 58,409
Diluted 60,633 60,633 59,703 59,703
(1) The following table summarizes the adjustments for the respective
periods presented:
Year Ended Year Ended
December 31, December 31,
2004 2003
Net income, GAAP $14,951 $15,805
Mercator transition activity 628 4,956
In-process research and development - 2,000
Database transaction and transition costs 860 3,111
Amortization of acquired intangibles 8,413 6,446
Stock based compensation charges 845 211
Litigation settlement costs - 1,125
Merger, realignment and other charges,
excluding database 87 1,983
Foreign exchange gains on
liquidation of subsidiaries (638) -
Content management (net) - 49
Income tax benefit (2) (3) (4,902) (22,115)
Pro forma adjusted net income $20,244 $13,571
(2) The income tax benefit included in pro forma adjustments in the twelve
months ended December 31, 2004 includes a $2.4 million non-recurring
benefit ($0.04 per share based on diluted shares of 60,633).
(3) The income tax benefit included in pro forma adjustments in the twelve
months ended December 31, 2003 includes a $16.5 million non-recurring
benefit ($0.28 per share based on diluted shares of 59,703).
ASCENTIAL SOFTWARE CORPORATION
PRO FORMA UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
Three Months Ended Three Months Ended
September 30, September 30,
2004 2003
GAAP Adjustments Pro Forma GAAP Adjustments Pro Forma
(1) Adjusted (1) Adjusted
NET REVENUE
Licenses $27,159 $ - $27,159 $22,353 $ - $22,353
Services 40,434 - 40,434 23,536 - 23,536
67,593 - 67,593 45,889 - 45,889
COSTS AND EXPENSES
Cost of
licenses 4,745 (1,463) 3,282 3,874 (1,210) 2,664
Cost of
services 17,616 (505) 17,111 10,331 (213) 10,118
Sales and
marketing 27,765 (57) 27,708 19,531 (829) 18,702
Research and
development 9,805 (54) 9,751 6,834 (349) 6,485
General and
administrative 7,195 (137) 7,058 6,472 (539) 5,933
Merger,
realignment
and other
charges 151 (151) - 1,654 (1,654) -
In-process
research and
development - - - 2,000 (2,000) -
67,277 (2,367) 64,910 50,696 (6,794) 43,902
Operating
income (loss) 316 2,367 2,683 (4,807) 6,794 1,987
OTHER INCOME
Interest
income, net 2,152 - 2,152 2,661 - 2,661
Other income, net 182 - 182 576 - 576
INCOME (LOSS)
BEFORE INCOME
TAXES 2,650 2,367 5,017 (1,570) 6,794 5,224
Income tax
expense 327 292 619 129 1,439 1,568
NET INCOME
(LOSS) $ 2,323 $ 2,075 $ 4,398 $ (1,699) $ 5,355 $ 3,656
NET INCOME
(LOSS) PER SHARE
Basic $0.04 $0.08 $(0.03) $0.06
Diluted $0.04 $0.07 $(0.03) $0.06
SHARES USED IN
PER SHARE
CALCULATIONS
Basic 58,632 58,632 58,195 58,195
Diluted 59,207 59,207 58,195 59,946
(1) The following table summarizes the adjustments for the respective
periods presented:
Three Months Ended Three Months Ended
September 30, 2004 September 30, 2003
Net income, GAAP $2,323 $(1,699)
Mercator transition activity 30 1,369
In-process research and development - 2,000
Database transaction and
transition costs / (benefit) (32) 816
Amortization of acquired intangibles 2,155 1,555
Stock based compensation charges 214 -
Merger, realignment and other
charges, excluding database - 1,054
Income tax benefit (292) (1,439)
Pro forma adjusted net income $4,398 $3,656
ASCENTIAL SOFTWARE CORPORATION
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
December 31, December 31,
2004 2003
ASSETS
CURRENT ASSETS
Cash and cash equivalents $184,155 $202,568
Short-term investments 296,551 313,681
Accounts receivable, net 56,607 42,034
Other current assets 20,409 23,311
Total current assets 557,722 581,594
Property and equipment, net 10,009 11,186
Software development costs, net 16,542 14,794
Long-term investments 3,314 2,301
Goodwill and intangible assets, net 336,910 344,190
Other assets 10,576 12,014
Total Assets $935,073 $966,079
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable $10,715 $16,878
Accrued expenses 22,474 14,433
Accrued employee compensation 21,322 24,207
Income taxes payable 48,405 62,327
Accrued merger, realignment and other charges 32,856 46,705
Deferred revenue 45,295 41,106
Other current liabilities 2,224 1,800
Total current liabilities 183,291 207,456
Other long term liabilities 709 937
Total Liabilities 184,000 208,393
Total Stockholders' Equity 751,073 757,686
Total Liabilities and Stockholders' Equity $935,073 $966,079
DATASOURCE: Ascential Software Corporation
CONTACT: Chas Kielt, +1-508-599-7256, , or David
Roy, +1-508-599-7290, , both of Ascential Software
Corporation; or Kristina LeBlanc of Porter Novelli, +1-617-897-8200,
; or Gordon McCoun, or
Julie Prozeller, , both of Financial Dynamics,
+1-212-850-5600
Web site: http://www.ascential.com/