“1999 Annual Revenues Increase 11%; Net Income Increases 100%;
Applix Engages W. R. Hambrecht & Co To Assist In Spinout Of
Linux Division.”
“Applix, Inc. (NASDAQ: APLX-), today announced its results for
the fourth quarter ended December 31, 1999… Revenues for the
twelve months ended December 31, 1999 were $55.8 million compared
to $50.2 million for the same period in 1998, representing an
increase of 11%. Net income for the twelve months ended December
31, 1999 was $2.4 million, or $0.20 per diluted share, compared to
net income of $1.2 million, or $0.11 per diluted share, for the
same period in 1998, an increase of 100%.”
“The Company also announced that it has engaged W. R. Hambrecht
+ Co, a leading investment banker in the Linux market to assist the
Company in exploring strategic growth options for its Linux
Division, including a spinout and the raising of capital through a
private placement.”
“… we now have two very focused businesses, Front Office
Applications for e-Business environments and application innovation
for the emerging Linux environments… “The engagement of W.R.
Hambrecht will help us as we consider raising capital for the Linux
Division, and positioning the Linux business for a spinout as a
separate entity.”