Des Moines, IA--January 22, 1997--Microware Systems Corp. (Des Moines, IA) reported total revenues of $5.9 million for the third quarter ended Dec. 31, 1996, compared to $5.7 million for the same quarter ended last year. Net loss for the third quarter ended Dec. 31, 1996, totaled $600,000 or $0.04 per share, compared to net income of $300,000 or $0.02 per share for the same quarter ended last year. Weighted average shares outstanding, used in the computation of earnings per share for the third quarters ended Dec. 31, 1996 and 1995 were 13.9 and 13.4 million shares, respectively.
For the nine-month period ended Dec. 31, 1996, total revenues rose 18.4 percent to $20.0 million from $16.9 million in total revenues for the same period ended last year. The company's net income for the nine months ended Dec. 31, 1996 totaled $900,000, or $0.06 per share, compared to $900,000, or $0.07 per share, from the same period ended last year. Weighted average shares outstanding, used in the computation of earnings per share for the nine month periods ended Dec. 31, 1996 and 1995, were 16.0 and 12.9 million shares, respectively.
During the third quarter, Microware announced licensing agreements with major customers including IBM, Corel Corp., and Zenith Electronics Corp. Under the agreement with IBM, Microware's OS-9 will support OEM technology for development and demonstration use with IBM's network computers.
Also during the quarter, Corel and Microware announced a cross-licensing agreement. Under this agreement, Corel will use Microware's software for its portable computing products, and Microware will offer Corel Office for Java to OS-9 users.
Additionally, Microware announced that Zenith Electronics Corp. has licensed Microware's OS-9-based DAVIDLite system software for use in 3 million digital television set-top boxes Zenith will supply for the Americast programming venture. Americast is a consortium of Ameritech, BellSouth, GTE, SBC Communications, Southern New England Telecommunications Corp., and the Walt Disney Co., created to develop and market the next generation in home entertainment.
Des Moines, IA
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