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Topic: (NASDAQ:OMGA) ,
Headline: TABLE- Omega Research (NASDAQ:OMGA) Q4 net drops
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MIAMI, Feb 17 (Reuters) -
Omega Research Inc
Statements of income
Three months ended Year ended
December 31, December 31,
1997 1996 1997 1996
NET REVENUES:
Licensing fees
$ 5,254,663 $ 3,750,877 $24,364,990 $13,943,234
Other revenues
1,100,054 992,260 4,861,284 3,876,928
Total net
revenues 6,354,717 4,743,137 29,226,274 17,820,162
OPERATING EXPENSES:
Cost of licensing
fees 446,059 373,961 1,848,993 1,716,884
Product development
540,076 342,474 1,890,392 1,041,131
Sales and marketing
3,291,973 1,472,205 11,272,290 5,617,931
General and
administrative
1,507,283 855,389 5,420,760 2,421,638
Total operating
expenses 5,785,391 3,044,029 20,432,435 10,797,584
Income from
operations
569,326 1,699,108 8,793,839 7,022,578
OTHER INCOME, net
128,629 12,185 146,474 59,436
Income before
income taxes
697,955 1,711,293 8,940,313 7,082,014
PROVISION (BENEFIT) FOR
INCOME TAXES 233,000 -- (934,000) --
Income before
proforma income
taxes 464,955 1,711,293 9,874,313 7,082,014
PROFORMA INCOME TAXES:
Proforma income
taxes(a) -- 675,961 3,255,732 2,797,396
Nonrecurring tax credit
-- -- 1,167,000 --
Proforma net
income 464,955 1,035,332 5,451,581 4,284,618
PROFORMA NET EARNINGS
PER SHARE 0.02 0.05 0.26 0.21
WEIGHTED AVERAGE
COMMON SHARES
OUTSTANDING
22,877,000 20,541,000 20,885,000 20,541,000
NOTES: (a) The Company was treated as an S corporation for
federal and state income tax purposes prior to September 30,
1997. Proforma income taxes have been provided as if the
Company had been a C corporationfor all periods prior to
September 30, 1997.
Copyright 1998, Reuters News Service
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