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Attached is the text of a press release.
Bob Fulks
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Headline: OMEGA RESEARCH, INC. - Fourth Quarter Earnings Outlook [63]
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OMEGA RESEARCH, INC. announced that a preliminary estimate for the fourth
quarter of 1997 indicates that slower than anticipated demand has resulted
in lower than expected revenues and net income, as well as earnings per
share that is expected to range between $.02 and $.04.
Omega said that the slower demand was due in part to customer delays in
decision making (in anticipation of new product releases during the first
half of 1998) as well as greater than expected lost sales as a result of
December's curtailed business days.
Ralph L. Cruz, Omega Research's Co-Chairman and Co-CEO, said "While 1997,
as a whole, has been a strong year, and we are on track in executing our
business plan and optimistic about 1998, we are disappointed that the
fourth quarter was below expectations. However, even if current demand
patterns continue to impact us during the first quarter of 1998, we expect
that the major upgrade releases scheduled for the second quarter will
continue to expand our revenues, income and overall growth rate."
Founded in 1982, and headquartered in Miami, Florida, Omega Research, Inc.
is a leading provider of real-time investment analysis software for the
Windows operating system. In 1991, the Company pioneered the concept of
utilizing the power of the personal computer to enable investors to
historically test the profitability of their own investment strategies and
then computerize those strategies to generate real-time buy and sell
signals, with its release of its flagship product, TradeStation. Following
TradeStation's success, Omega Research introduced OptionStation and
SuperCharts, its other principal products.
This press release contains statements that are forward-looking and are
made pursuant to the safe harbor provisions of the Security Litigation
Reform Act of 1995. When used in this press release, the words "believes,"
"estimates," "plans," "expects," "intends," "anticipates," "may,"
"prospect" and similar expressions as they relate to the Company or its
management are intended to identify forward-looking statements. The
statements regarding expected performance during each of the quarters of
1998 are based on current expectations and beliefs concerning future events
that are subject to risks and uncertainties. Actual results may differ
materially from the results suggested herein and from the results
historically experienced. Factors that may cause or contribute to such
differences and impact future events include, but are not limited to, the
timing and success of product upgrades, new product releases, pricing and
quality of competitive products and other factors discussed in the
Company's filings with the Securities and Exchange Commission, including
the risk factors set forth in the Company's Prospectus dated September 30,
1997.
Visit the Omega Research Web site at http://www.omegaresearch.com
TEL: Salomon Sredni, Chief Financial Officer of Omega Research, 305-551-9991
WEBSITE: http: //www.omegaresearch.com
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Bob Fulks
bfulks@xxxxxxxxxxxx
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