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LHS Announces Quarterly and Annual Results
BusinessWire, 02/22/2000 02:32
ATLANTA/FRANKFURT--(BUSINESS WIRE)--Feb. 22, 2000--
Net earnings (excluding charges) increase by 59%
LHS Group Inc. (NASDAQ:LHSG)(Neuer Markt: LHI) today announced results for the quarter and year ended December 31, 1999. Net earnings grew by 59% for the year, increasing 1999 earnings per share to $.72 (excluding merger charges). Revenue grew by 35.3%, for total revenues of $262.6 million for the year.
In the fourth quarter 1999, earnings before interest and taxes increased to $17.0 million, compared to $12.7 million in the same period of the prior year. The EBIT margin further increased to 24.4% from 21.7%. Net earnings rose to $12.3 million from $9.0 million the previous year.
This represents diluted earnings for the fourth quarter of $.21 per share compared to $.15 per share the year before. The company also made strong progress in its initiative to reduce the DSO (Daily Sales Outstanding), decreasing the number to 98 days at the end of the fourth quarter from 109 days at the end of the previous quarter.
Consolidated revenue for the quarter ending December 31, 1999 increased to $69.7 million from $58.6 million for the same period last year. As expected, services revenue growth in the quarter was slower due to Y2K related spending decreases. As a result, the license to services mix in the fourth quarter 1999 was 44% to 56%, compared to 39% to 61% for the same period last year.
The geographic distribution of quarterly revenue was Europe, Middle East, Africa 51%, North America 20%, Latin America 21%, and Asia 8%.
For the year ended December 31, 1999, consolidated revenues for LHS Group increased by 35.3% to $262.6 million from $194.1 million. Earnings before interest and taxes grew to $61.1 million (excluding merger charges) from $39.3 million (excluding unusual charges). Net earnings increased to $42.8 million or $.72 per share ($.65 per share including merger charges) from $26.9 million in 1998 or $.45 per share ($.32 per share including a one-time charge).
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