Tuesday, January 30, 2001
Tristate earnings reports
SDRC quarter sets record
By Mike Boyer
The Cincinnati Enquirer
Structural Dynamics Research Corp. (SDRC) on Monday announced a major partnership with Electronic Data Systems (EDS) Corp., the largest independent computer management and services provider, at the same time it reported record fourth-quarter revenues.
Milford-based SDRC and EDS, headquartered in Plano, Texas, said they were teaming to market SDRC software that allows businesses to collaborate online with vendors and customers to develop products more quickly. The two companies said they expect their joint efforts to generate $100 million in revenues over the next three years. The Aberdeen Group, an industry consultant, has estimated the market for so-called collaborative product commerce will explode to $16 billion within two years.
For the three months ended Dec. 31, SDRC reported a loss of $40.7 million, or $1.14 a share, after previously disclosed restructuring charges of $47.3 million, or $1.33 a share. Excluding the charges, SDRC said net income was $5.7 million, or 16 cents a share, versus a profit of $5.4 million, or 15 cents a share, a year ago.
Quarter revenues were a record $120 million, up from $114.1 million a year ago.
For the year, SDRC re ported a loss of $27.7 million, or 77 cents a share, after the restructuring charges, compared with net income of $28 million, or 75 cents a share, in the prior year. Annual revenues reached $451.9 million, compared with $442.2 million a year ago.
In another report:
General Cable Corp.: The Highland Heights-based manufacturer of aluminium, copper and fiber-optic wire and cable reported higher earnings and revenues for the fourth quarter.
For the three months ended Dec. 31, the company, which sold its European energy cable business in the third quarter, reported net earnings of $11.2 million, or 34 cents a share, compared with net earnings of $8.9 million, or 26 cents a share, for the comparable businesses a year ago. Revenues increased 4 percent to $557.3 million from $533.7 million for the ongoing businesses.
For the year, General Cable reported pro forma net income for the ongoing businesses of $46.8 million, or $1.39 a share, on revenues of $2.3 billion. For the prior year, the ongoing businesses reported net income of $43.3 million, or $1.21 a share, on sales of $1.7 billion.
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Tristate earnings reports
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