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Subject: Arbortext Reports Record First Quarter Revenue
Arbortext Reports Record First Quarter Revenue ANN ARBOR, Mich., April 28, 2003 -- Arbortext, Inc., the leading global provider of XML-based software for content creation and multichannel publishing, today reported record revenue for the first quarter ending March 31, 2003. The company’s continued growth was fueled by substantial orders from both new and existing customers. “We are pleased to report another quarter of solid revenue growth and overall strong operating performance,” said Raymond Schiavone, President and CEO at Arbortext. “Our continuing success is a testament to the fact that we are uniquely positioned to help organizations worldwide eliminate the costs and pain associated with creating and sharing content. We enter the second quarter poised for continued aggressive growth, given our healthy sales pipeline, exciting product roadmap and strong balance sheet.” The amount of time and money organizations spend on creating and re-purposing content may be the largest hidden inefficiency remaining for data-intensive industries to tackle. Arbortext software helps organizations deploy content across their entire enterprise, control the editing process and protect document integrity, ultimately uncovering and reducing tremendous inefficiencies. First Quarter Highlights · Total bookings grew 25% as compared to 2002, leading to record first quarter revenue. · Operating expenses declined 1% from one year ago. · Cash flows from operations totaled $2.3 million. · Deferred revenue grew 25% from March 2002. · During the quarter, the company hired Mark Benfer as Vice President of Sales, and appointed Dave White to Technology Director and John Ford to Vice President of Business Development. · Significant orders were received during the quarter from new and existing customers including AAA, American Red Cross, Bombardier, Computer Sciences Corporation, DaimlerChrysler, Deere & Company, Delta Technology, FM Global, GE Aircraft Engines, GE Power Systems, Hughes Supply, IRS, Japan Airlines, Kraft, LexisNexis, Motorola, Nokia Networks, Oracle, Pfizer, SAS Institute, Toyota, Turbomeca, Vodafone New Zealand and Volvo Car Corporation. About Arbortext Arbortext is the leading global provider of XML-based software for content creation, editing and multichannel publishing to Web, print, CD-ROM and wireless devices. Arbortext’s software is installed at over 1,300 organizations worldwide. Current customers include American Express Financial Services, Audi, Boeing, Bombardier, British Aerospace, Caterpillar, DaimlerChrysler, Ericsson Telecom, Ford, General Electric, GM, IBM, International Thomson Publishing, Lucent, Nokia, Nortel Networks, PeopleSoft, Pfizer, Ricoh, Sun Microsystems, Toyota, United Airlines, Volkswagen, and Volvo. Arbortext is a founding member and active participant in the XML Activity of the World Wide Web Consortium (W3C). Headquartered in Ann Arbor, Michigan, USA, Arbortext has offices around the world. For more information please visit http://www.arbortext.com. # # # Contact: Beth Ambaruch, APR David Stone Arbortext, Inc. Ketchum +1 734.327.6014 +1 312.228.6967 bea@arbortext.com david.stone@ketchum.com Press room: http://www.arbortext.com/html/press_room.html
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