Source: Posting to comp.os.geos(ALAMEDA, CA), April 22, 1996 - Geoworks (Nasdaq National Market System Symbol: GWRX), a leading developer of operating systems for the emerging consumer computing device (CCD) market, today reported results for the fourth quarter and fiscal year ended March 31, 1996.
Revenues for the fourth quarter of fiscal 1996 were $797,000 compared with $890,000 for the same period a year ago. The company reported a net loss of $2,837,000, or $0.20 per share, compared with a loss of $2,452,000, or $0.22 per share, a year ago.
For all of fiscal 1996, Geoworks reported revenues of $4,999,000 versus revenues of $3,949,000 in fiscal 1995. The company reported a net loss of $8,693,000, or $0.70 per share, compared with a loss of $10,193,000, or $1.11 per share, in fiscal 1995. Per share amounts for both the fourth quarter and all of fiscal 1996 include the effect of the company's public offering of common stock in November, 1995.
"Geoworks ended fiscal 1996 on a high note with the introduction of the Nokia 9000 Communicator smart phone which uses the GEOSO 3.0 operating system to provide a variety of mobile communications capabilities," said Gordon Mayer, president and chief executive officer.
"This device," he continued, "which was named `Best of Show' by Byte Magazine at the CeBIT electronics show in Hannover, Germany, will allow users to wirelessly send and receive telephone calls, faxes, pages and electronic mail, and to access the Internet and corporate networks."
In January, the company announced a business alliance with Ericsson to deliver a range of affordable smart phones that combine voice and data transmission capabilities. The two companies indicated that the GEOS operating system will serve as the foundation for the family of devices. Ericsson is a leading provider of digital handsets worldwide.
"The introduction of the Nokia 9000 Communicator and our alliance with Ericsson validate the emergence of the category, while positioning GEOS as an emerging standard for a new and highly sophisticated category of mobile communications devices," said Mayer.
Geoworks develops and markets the GEOS operating system and application software for consumer computing devices, such as digital cellular phones, and sophisticated electronic organizers. GEOS is a compact, object-oriented operating system offering a patented, flexible user interface that allows hardware manufacturers to develop customized user interfaces to meet the needs of their customers. In addition to Nokia and Ericsson Mobile Communications AB, GEOS licensees include Toshiba Corporation, Hewlett-Packard, Brother International Corporation and Canon Business Machines. In keeping with U.S. law, Geoworks notes that its projections concerning the development and delivery of consumer computing devices and the emergence of GEOS as a standard are forward looking statements. Actual results may vary significantly, due to various risks and uncertainties, particularly including product demand and acceptance risks, the potential emergence and impact of competitive products and services, the scheduling risks inherent in the development of complex technologies, and the risk factors identified in the Company's Forms 10Q, 10K and other filings available from the Company or from the SEC. For additional information on Geoworks and the GEOS operating system, contact Geoworks on the World Wide Web at http://www.geoworks.com/