|
PureBytes Links
Trading Reference Links
|
============================================================
Topic: (NASDAQ:OMGA) ,
Headline: Omega Research Updates Schedule For The Release Of The Next
Generation
Of Its Products and Outlook on Its 1998 Third Quarter Earnings Expectations
======================================================================
MIAMI, Oct. 1 /PRNewswire/ -- Omega Research, Inc. (NASDAQ:OMGA)
announced today a revised timetable for the release of the 5.0 version of its
premier products.
In order to ensure a smooth product roll-out, TradeStation(R) 5 and
OptionStation(R) 5 will initially be marketed to existing Omega Research
customers. The Company expects the new products to be approved by its Quality
Assurance department and released for manufacture in January 1999. The
broader release to the general public is currently expected to occur prior to
the end of the first quarter of 1999. This release will mark the first time
that Omega Research products compatible with DTN (broadcast), PC Quote
(broadcast and internet) and the Signal Online, StockEdge Online and Insite
internet data feeds are expected to be available. The new products are also
expected to be compatible with the Signal and BMI broadcast data feeds when
released. In separate statements released today, the Company announced that
it has also reached agreements with FutureSource Information Systems, Inc. and
Standard & Poor's ComStock, Inc. under which TradeStation 5 will be made
compatible with FutureSource's broadcast network data feed, and both
TradeStation 5 and OptionStation 5 will be made compatible with Standard &
Poor's ComStock's Xpressfeed(TM) broadcast data service.
Ralph L. Cruz, Omega Research's Co-Chairman and Co-CEO, said, "We expect
the upcoming release of TradeStation 5.0 and OptionStation 5.0 to
revolutionize the industry by redefining the state-of-the-art in investment
analysis software tools. These new products, under development for more than
two years, have already been shipped to hundreds of beta testers and third-
party software developers who create investment analysis software products.
Their feedback, almost uniformly, has been extremely positive, and we are in
the process of adding to the products certain of the features and refinements
most requested by them. Additionally, the TradeStation 5 beta has been
previewed in the October 1998 issue of Futures magazine, which noted that the
product 'remains the industry standard for designing and testing trading
systems.' We have reviewed carefully our plans for the release of the new
products in light of both the short-term and long-term interests of the
Company, its stockholders and customers. Although delaying the release was a
tough decision to make, we believe that devoting the remainder of 1998 to
refinement of the new products and launching the release early next year best
serves all of those interests."
Commenting on the Company's expected financial performance for the second
half of 1998, Salomon Sredni, Omega Research's Vice President of Operations
and Chief Financial Officer, stated, "weaker than anticipated demand will
result in lower than expected revenue and net income levels for the third
quarter of 1998. Contrary to our earlier announcement regarding our
expectations, the Company expects that earnings per share for the third
quarter of 1998 will be approximately $0.01 per share. We believe the delay
of the new product release will adversely affect the fourth quarter of 1998 as
well. Clearly, 1998 has turned out to be a transition year for the Company,
but one which we believe well-positions us for future successes in the
individual, institutional and international markets."
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. With the 1991 release of its flagship product,
TradeStation, Omega Research 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 computer-automate
those strategies to generate real-time buy and sell signals. Omega Research's
other principal products are OptionStation, TradeStation Pro Suite (a
combination of TradeStation and OptionStation) and SuperCharts(R).
This press release contains statements that are forward looking and are
made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. When used in this press release, the words
"believes," "estimates," "plans," "expects," "intends," "anticipates," "may,"
"should," "prospect," "looking forward" and similar expressions as they relate
to Omega Research or its management are intended to identify forward-looking
statements. The statements in this press release regarding expected product
releases during 1999 and the timetables therefor and the quality and
performance capabilities thereof, third-quarter 1998 and future Company
financial performance, technical compatibility with various data feeds, and
expected customer appeal and acceptance, 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, Omega Research meeting its timetable for the anticipated upgrade
releases of its premium products, the extent to which potential customers will
delay purchasing the Company's products pending release of the upgrades,
customer acceptance of such upgraded products, technical difficulties or
errors in the products, unfavorable critical reviews of such upgraded
products, Omega Research's ability to market effectively such upgraded
products, the introduction of competitive products in the market or increased
customer acceptance of recently-introduced competitive products, failure of
the Company to achieve anticipated sales volumes relating to its principal
products in the third and fourth fiscal quarters and to achieve anticipated
sales volumes relating to additional products and services intended to be
marketed in the third and fourth fiscal quarters, delays in the marketing of
such additional products and services, the Company's ability to market
effectively such additional products and services, customer acceptance of such
additional products and services, the ability of Omega Research and the
various data vendors to develop the requisite technical compatibility between
Omega Research's software and the respective data services in a timely
fashion, if at all (and the quality and customer acceptance of such combined
offerings), the execution of a definitive agreement with FutureSource,
unanticipated higher variable expenses (such as bad debt), increases in
product returns, decisions by Omega Research to enter into new markets or
expand into related businesses, volatility or other adverse conditions in the
securities markets, and Omega Research's ability to attract and retain high-
quality product development personnel, as well as those discussed in Omega
Research's press releases and filings with the Securities and Exchange
Commission including, but not limited to, Omega Research's December 31, 1997
Annual Report on Form 10-K.
Visit the Omega Research web site at www.omegaresearch.com
SOURCE Omega Research, Inc.
-0- 10/1/98
/CONTACT: Salomon Sredni, Vice President of Operations and Chief
Financial Officer, Omega Research, 305-551-9991/
/Web site: http://www.omegaresearch.com/
|