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Hmmm, I am now accepting apologies from those few individuals who lambasted
me for predicting big delays in V5 product rollout from Omega, and of
course, big delays in delivering the promised Y2K patch scheduled for
release after V5 rollout .... in fact it was last winter (when V5 was
scheduled for early 2Q 1998 release) that I opined that we would not be
seeing V5 until 3Q at earliest and a Y2K patch until 1Q-2Q 1999.
Earl
-----Original Message-----
From: Bob Fulks <bfulks@xxxxxxxxxxxx>
To: Omega-list <omega-list@xxxxxxxxxx>
Date: Thursday, October 01, 1998 4:16 PM
Subject: Omega Updates Schedule For TS 5.0 & Third Quarter Earnings
>============================================================
>
>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/
>
>
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