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Docucorp Sees Revenue Increase In Q1

Press release from the issuing company

DALLAS--Nov. 18, 2004-- Docucorp International, a leading provider of enterprise information solutions, today announced revenues of $19.7 million for the quarter ended October 31, 2004, as compared to $18.9 million for the first quarter of the prior year. The company reported net income of $1.4 million, or $0.12 per diluted share, for the quarter compared to net income of $1.4 million, or $0.13 per diluted share, for the same period a year ago. Compared to the first quarter of fiscal 2004, software license revenue increased 11 percent to $3.0 million, ASP hosting revenue increased five percent to $6.1 million and professional services revenue increased five percent to $5.4 million. Maintenance revenue decreased two percent to $5.2 million. "This has been an active and important quarter for Docucorp. Effective September 24, 2004, we acquired the assets of Newbridge Corporation, which includes the stock of Newbridge Information Services. In addition to facilitating Docucorp's entry into the health care market, we believe that Newbridge will contribute to the company's future growth and profitability," said Michael D. Andereck, president and chief executive officer, Docucorp International. "We are currently focused on integrating Newbridge into our operations. We recently combined the sales and administrative functions and are on track to consolidate Newbridge hosting services with our Dallas ASP operations during the third quarter of this fiscal year." "During this quarter, we had two significant license sales in the North American financial services market and improved traction in our European market, which resulted in increased software license and professional services revenue," said Andereck. "While overall technology spending is still uncertain in the current economic environment, we are pleased with the increased level of activity and will work hard to accelerate growth during fiscal 2005."