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I am delaying any upgrade to 5.0. YOu guys go first.
-----Original Message-----
From: Earl Adamy <eadamy@xxxxxxxxxx>
To: Omega-list <omega-list@xxxxxxxxxx>
Date: Thursday, October 01, 1998 5:14 PM
Subject: Re: Omega Updates Schedule For TS 5.0 & Third Quarter Earnings
>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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