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holzel Free
06/01/03 8:56 PM

Gensym (fka GNSM) RSS Feed

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03/21/03
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GNSM .72/.82...all these guys do is make money. $1.62m for the year or $.23 per sh. The 4th qtr just about caught up in rev...my guess is that rev will show increases this year as long lead cycles produce more orders. $5.4m swing from loss to profits. 6.5m outstanding: (COMTEX) B: Gensym Releases Fourth Quarter and Year-End Results; Earnings B: Gensym Releases Fourth Quarter and Year-End Results; Earnings Conference Call BURLINGTON, Mass., Mar 20, 2003 (BUSINESS WIRE) -- Gensym Corporation (OTC Bulletin Board: GNSM), a leading provider of software and services for expert operations management, today announced revenues of $4,578,000 and net income of $464,000, or $0.07 per diluted share, for the quarter ended December 31, 2002. For the corresponding quarter of 2001, Gensym had revenue of $4,767,000 and net income of $2,329,000, or $0.34 per diluted share, which included a gain of $2,094,000 ($0.32 per diluted share) from the sale of its NetCure business. For the year ended December 31, 2002, Gensym had revenues of $17,451,000 and net income of $1,644,000, or $0.23 per diluted share. In 2001, the company had revenues of $20,181,000 and a net loss of $3,749,000, or $0.57 per share. Management will hold a conference call on Monday, March 24 at 5:00 p.m. EST to discuss its financial results for the quarter and year ended December 31, 2002. Individuals who wish to participate should call 888-632-5950 (U.S./Canada only) or 713-481-1320 (international). A replay of the call will be available through Friday, March 28 at 877-519-4471 (U.S./Canada) or 973-341-3080 (international). The telephone replay access code is 3825364. "We are quite pleased with what we achieved in 2002 despite the difficult economic conditions, which impacted almost all software companies adversely," said Lowell Hawkinson, Gensym's chairman, president and CEO. "A large part of our success in 2002 was due to the effect of the cost cutting measures we introduced as part of the turnaround effort in 2001. The current cost structure contains sufficient capacity to support immediate future growth, so we have now turned our attention to rebuilding our revenue streams. We have strengthened both the quality and quantity of our sales management and sales force in recent months, but due to the complex nature of our products and long sales cycles, we don't expect to see the full impact of these investments until 2004." Mr. Hawkinson went on to say, "Much of our business in 2002 came from the existing customer base, which continues to remain loyal to our G2 product line. We won important new business from leading companies in all of the major markets in which we compete. Now, however, with our strengthened sales resources, we are increasingly focused on new customer acquisition, concentrating on those markets where we are already established and where we have the domain expertise to provide value-add solutions through our software products and professional services. "On the technology front, we have made significant progress in updating our products to take advantage of industry standard technologies. Version 7.0 of our core G2 platform, which is scheduled for release in March, 2003, offers new customer-driven features, including a Microsoft Windows(R) user interface and support of XML. This major product release significantly enhances the ease with which G2-based solutions can be scaled up and distributed throughout enterprises within manufacturing, communications, transportation, aerospace, and government. In addition, users building products on G2 can leverage G2 7.0's enhancements to create reasoning-technology solutions that are readily deployed through Web browsers and Web services." Mr. Hawkinson continued, "In light of the uncertainty that currently prevails in both the economic and geopolitical arenas, we do not plan to provide any revenue or earnings guidance regarding future periods. We will continue to make modest and prudent investments in our technology and sales capabilities until we have a clearer view of the environment in which we will have to conduct our business. In the meantime, we have grown our cash balance to almost $4,000,000 and have only a minimal amount of debt, which will allow us to expand our business appropriately when market conditions improve." About Gensym Corporation Gensym Corporation (www.gensym.com) is a provider of software products and services that enable organizations to automate aspects of their operations that have historically required the direct attention of human experts. Gensym's product and service offerings are all based on or relate to Gensym's flagship product G2, which can emulate the reasoning of human experts as they assess, diagnose, and respond to unusual operating situations or as they seek to optimize operations. With G2, organizations in manufacturing, communications, transportation, aerospace, and government maximize the performance and availability of their operations. For example, Fortune 1000 manufacturers such as Alcan, ExxonMobil, DuPont, El Paso, Hitachi, Lafarge, Eli Lilly, and Seagate use G2 to help operators detect problems early and to provide advice that avoids off-specification production and unexpected shutdowns. Manufacturers and government agencies use G2 to optimize their supply chain and logistics operations, while communications companies such as AT&T, Ericsson Wireless, and Nokia use G2 to troubleshoot network faults so that network availability and service levels are maximized. Gensym has numerous partners who can help meet the specific needs of customers. Gensym and its partners deliver a range of services, including training, software support, application consulting and complete solutions. Through partners and through its direct sales force, Gensym serves customers worldwide.
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