SCHEDULE 14A INFORMATION
PROXY STATEMENT PURSUANT TO SECTION 14(A) OF
THE SECURITIES EXCHANGE ACT OF 1934
Filed by the Registrant /X/
Filed by a Party other than the Registrant / /
Check the appropriate box:
/ / Preliminary Proxy Statement
/ / Confidential, for Use of the Commission Only
(as permitted by Section 14a-6(e)(2))
/ / Definitive Proxy Statement
/ / Definitive Additional Materials
/X/ Soliciting Material Pursuant to Section 14a-11(c) or Section 14a-12
INFORMIX CORPORATION
- ------------------------------------------------------------------------------
(Name of Registrant as Specified in Its Charter)
- ------------------------------------------------------------------------------
(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
Payment of Filing Fee (Check the appropriate box):
/X/ No Fee Required.
/ / Fee computed on table below per Exchange Act Rules 14a-6(i) (4)
and 0-11.
(1) Title of each class of securities to which transaction applies:
- ------------------------------------------------------------------------------
(2) Aggregate number of securities to which transaction applies:
- ------------------------------------------------------------------------------
(3) Per unit price or other underlying value of transaction computed
pursuant to Exchange Act Rule 0-11 (Set forth the amount on which the
filing fee is calculated and state how it was determined):
(4) Proposed maximum aggregate value of transaction:
(5) Total fee paid:
/ / Fee paid previously with preliminary materials:
/ / Check box if any part of the fee is offset as provided by Exchange Act
Rule 0-11(a)(2) and identify the filing for which the offsetting fee
was paid previously. Identify the previous filing by Registration
Statement number, or the Form or Schedule and the date of its filing.
(6) Amount previously paid:
- ------------------------------------------------------------------------------
(7) Form, Schedule or Registration Statement No.:
- ------------------------------------------------------------------------------
(8) Filing party:
- ------------------------------------------------------------------------------
(9) Date filed:
- ------------------------------------------------------------------------------
The proposed transaction described below will be submitted to
Informix's stockholders for their consideration, and Informix will file a proxy
statement concerning the proposed transaction with the SEC. Stockholders are
urged to read the proxy statement regarding the proposed transaction when it
becomes available and any other relevant documents filed with the SEC, as well
as any amendments or supplements to those documents, because they will contain
important information. When available, the proxy statement concerning the
proposed transaction will be mailed to all of our stockholders and our proxy
statement, as well as other filings containing information about Informix, will
be available, for free, at the SEC's Internet site (HTTP://WWW.SEC.GOV). Copies
of the proxy statement and the SEC fillings that will be incorporated by
reference in the proxy statement can also be obtained, without charge, by
directing a request to Informix, Investor Relations, 50 Washington St.,
Westboro, MA 01581 (508-366-3888).
Informix and its directors and executive officers may be deemed to be
participants in the solicitation of proxies from Informix stockholders in favor
of the proposed transaction. Information regarding the interests of the officers
and directors of Informix in the proposed transaction will be set forth in proxy
statement regarding the proposed transaction, when available. Information
regarding Informix's officers and directors that may be deemed participants in
the solicitation is included in Informix's most recent annual proxy statement as
filed with the SEC on a Schedule 14A.
IBM AND INFORMIX CORP. SIGN AGREEMENT FOR SALE OF
INFORMIX DATABASE BUSINESS TO IBM
ACQUISITION STRENGTHENS IBM'S DATABASE BUSINESS;
ASSURES INFORMIX CUSTOMERS AND PARTNERS
CONTINUED SUPPORT, FAST PATH TO E-BUSINESS
PUBLIC RELATIONS CONTACTS:
Joe Stunkard Sharon Thompson
IBM Informix Software
914-766-1779 503-721-2385
STUNKARD@US.IBM.COM SHARON.THOMPSON@INFORMIX.COM
---------------------------------------------------------------------------------
Pager: 800-946-4646 Pin:182-6486
Malinda Banash Stephanie Prince/Gordon McCoun
Miller Consulting for Ascential Software Morgen Walke for Informix Investor Relations
617-262-1800 x232 212-850-5600
MALINDA@MILLERGRP.COM SPRINCE@MORGENWALKE.COM
Armonk, N.Y., and Westboro, MA., April 24, 2001 -- IBM (NYSE:IBM) and
Informix(R) Corporation (Nasdaq: IFMX) today announced that they have entered
into a definitive agreement
for IBM to acquire the assets of Informix Software--Informix's database
business--in a cash transaction valued at $1 billion.
The acquisition strengthens IBM in the fast-growing distributed database
business, a key strategic priority for IBM. IBM's distributed database revenues
grew 36% year-to-year in the first quarter of 2001.
"Customers are aggressively investing in data management software because data
collection, storage and use are at the core of a successful e-business," said
Sam Palmisano, president and chief operating officer of IBM. "This acquisition
of Informix allows IBM to bring the benefits of leadership database technologies
to more customers faster."
Informix Software is a leading provider of database management systems for data
warehousing, business intelligence and transaction processing. With an installed
base of more than 100,000 customers worldwide, Informix delivers
high-performance database systems to customers in retail, financial services,
government, healthcare, manufacturing, media and publishing, telecommunications
and other businesses. Key Informix customers include Verizon, Deutsche Telekom,
Sears and Sabre.
Once the acquisition is completed, IBM will:
o Integrate Informix database business operations and personnel into the
existing IBM Software data management division led by General Manager Janet
Perna.
o Market and sell Informix's database products worldwide through an
integrated IBM and Informix sales force.
o Maintain existing relationships with Informix customers and business
partners, including support for and updating of current Informix products.
"The acquisition by IBM is good news for Informix Software's database customers,
partners, employees and stockholders," said Peter Gyenes, chairman and chief
executive officer, Informix Corp. "IBM offers the global resources, investment
protection, support and technology
leadership our customers and partners need for the future, as well as exciting
opportunities for our employees. This acquisition also extends the reach and
relevance of key Informix technologies as they are evolved and integrated into
future versions of IBM data management offerings."
Informix customers will also benefit from IBM's open platform strategy and broad
array of alliances with leading application developers such as SAP, Siebel
Systems, PeopleSoft, Retek and many others worldwide. IBM intends to integrate
selected Informix technology into future versions of DB2* Universal Database,
which will remain IBM's flagship database product.
"Informix customers can be confident that their investments in existing Informix
products are secure," said Steve Mills, senior vice president and group
executive, IBM Software. "These customers will now have a long-term growth path
that enables them to achieve the full potential of e-business."
Following the sale of the database business to IBM, Informix Corporation will be
totally focused on its other independent operating business - Ascential(TM)
Software. With annualized revenue in excess of $130 million, Ascential is a
leading provider of information asset management solutions to the Global 2000.
The Company intends to apply the proceeds from the transaction to fund the
growth of Ascential as well as to return a substantial portion of the proceeds
to stockholders through a stock-reduction program, details of which are expected
to be announced at or shortly after closing. Upon the closing of the
transaction, Informix Corporation will be renamed Ascential Software.
In a separate release today, IBM and Ascential Software announced a global
strategic alliance to jointly develop and market information asset management
solutions based on Ascential's DataStage(R), DataStage 390 and Media360(TM)
products as well as IBM's DB2 and related product platforms.
The acquisition is subject to Informix shareholder and regulatory approvals, and
is expected to close in the third quarter of 2001.
ABOUT IBM
IBM is the world's largest information technology company, with 80 years of
leadership in helping businesses innovate. For more information about IBM, visit
HTTP://WWW.IBM.COM.
ABOUT INFORMIX CORPORATION
Informix Corp. is the parent company of Informix Software, the database company,
a leading provider of database management systems for data warehousing,
transaction processing and e-business applications, and Ascential Software, the
leading provider of Information Asset Management solutions to the Global 2000.
For more information, visit the Informix web site HTTP://WWW.INFORMIX.COM.
Informix Software, headquartered in Menlo Park, California, has 2,500 employees
worldwide in offices in North America, Latin America, Europe, Africa, and
Asia-Pacific, and is a leader in data management technology. Founded in 1980,
Informix Software has consistently strived to optimize performance, scalability,
and total cost of ownership in its data management offerings.
*Denotes a trademark of the IBM Corporation
(C)2001 Informix Corporation. All rights reserved. The following are trademarks
of Informix Corporation or its affiliates, one or more of which may be
registered in the U.S. or other jurisdictions: Informix, Ascential, DataStage
and Media360.
Safe Harbor Statement
This public announcement contains forward-looking statements that are subject to
numerous risks and uncertainties. Any statements contained in this public
announcement, including without limitation statements to the effect that the
Companies or their managements "believes," "expects," "anticipates," "plans,"
"may," "will," "projects," "continues," "intends" or "estimates," or statements
concerning "potential" or "opportunity" or other variations thereof or
comparable terminology or the negative thereof that are not statements of
historical fact, should be considered forward-looking statements as a result of
certain risks and uncertainties. These risks and uncertainties could cause
actual results and events materially to differ for historical or anticipated
results and events. Investors and potential investors should review carefully
the description of risks and uncertainties which, together with other detailed
information about the Companies, is contained in the periodic reports that the
Companies file from time to time with the Securities and Exchange Commission,
including the Companies' Forms 10-K for fiscal year 2000.
[INFORMIX CORPORATION LETTERHEAD]
NEWS RELEASE
PRESS CONTACT: INVESTOR CONTACT:
Ascential Software Stephanie Prince/ Gordon McCoun
Malinda Banash Morgen-Walke Associates, Inc.
Miller Consulting (212) 850-5600
617-262-1800 x232 SPRINCE@MORGENWALKE.COM
MALINDA@MILLERGRP.COM
Informix Software
Sharon Thompson
(503) 721-2385
SHARON.THOMPSON@INFORMIX.COM
INFORMIX CORPORATION ANNOUNCES FIRST QUARTER EARNINGS AND
AGREEMENT TO SELL DATABASE BUSINESS TO IBM FOR $1.0 BILLION IN CASH
o EARNINGS PER SHARE INCREASES TO $0.06, BEFORE CHARGES
o INFORMIX CORPORATION TO BE RENAMED ASCENTIAL SOFTWARE
o COMPANY PLANS STOCK REDUCTION PROGRAM
Westboro, MA - April 24, 2001 - Informix(R) Corporation (Nasdaq: IFMX), a
technology leader for the new economy, today announceD results for the first
quarter ended March 31, 2001. Revenue totaled $217.1 million, compared with
$226.8 million in the fourth quarter of 2000, and $250.9 million in the same
quarter last year.
The net profit for the quarter was $18.3 million, or $0.06 per diluted share,
before charges primarily related to the Company's previously announced plans to
establish two separate, independent operating companies. This compares to a net
profit before charges in the 2000 fourth quarter of $14.9 million or $0.05 per
diluted share, and net profit of $27.1 million, or $0.09 per diluted share in
the first quarter of 2000.
Including realignment charges of $4.2 million, Informix reported a net profit of
$14.0 million in the first quarter of 2001. The Company ended the quarter with
$254.7 million in cash and cash equivalents on its balance sheet and no debt.
Revenue of Ascential(TM) Software, the information asset management solutions
company, was $33.3 million. Excluding the contribution from its i.Sell product
offering which was discontinued in the first quarter, Ascential revenue
increased 7% on a sequential basis to $30.4 million from $28.4 million in the
previous quarter, and increased 31% from $23.1 million in the same period last
year. This growth was driven primarily by the continued demand for the Company's
DataStage data integration and Media360 content management offerings. Including
the contribution from i.Sell, reported revenue in the fourth quarter was $33.7
million. Revenue of Informix Software, the Company's database business, was
$183.8 million in the 2001 first quarter, compared to $193.1 million in the
fourth quarter of 2000. Revenue at Informix Software continued to be driven by
customers' demand for data warehousing, business intelligence, and new Internet
applications.
International sales represented 49% of the Company's revenue during the first
quarter of 2001.
In a separate press release issued today, Informix announced that it had entered
into a definitive agreement to sell the assets of its database subsidiary,
Informix Software, to IBM for $1.0 billion in cash.
"The acquisition by IBM is good news for Informix Software's database customers,
partners, employees and stockholders," said Peter Gyenes, Chairman and Chief
Executive Officer. "IBM offers the global resources, investment protection,
support and technology leadership our customers and partners need for the
future, as well as exciting opportunities for our employees. This acquisition
also extends the reach and relevance of key Informix technologies as they are
evolved and integrated into future versions of IBM data management offerings."
Proceeds from the sale of the assets are expected to be approximately $800
million after taxes. The Company intends to apply the proceeds to fund the
growth of Ascential Software as well as return a substantial portion of the
available proceeds of the sale to stockholders through a stock-reduction program
consisting of either a stock re-purchase or a special dividend. A final
mechanism will be determined at or shortly after closing based on market
conditions. Upon the closing of the transaction, which is expected to be in the
third quarter of 2001, Informix Corporation will be renamed Ascential Software.
"When completed, the transaction with IBM will establish Ascential Software, the
leader in providing information asset management solutions, as a separate
publicly traded company with substantial financial resources to achieve its
goals," Mr. Gyenes continued. "Our investors will then own a pure play vehicle
to participate in one of the fastest growing sectors of the software industry.
Ascential Software will
begin its public life with approximately $1 billion in cash and no debt, a
current annualized revenue run rate in excess of $130 million and strong
products and partnerships, serving over 1700 customers worldwide. The Company is
led by a proven management team with a successful tenure of working together."
In a third press release today, the Company also announced a strategic alliance
between Ascential and IBM whereby IBM will market and sell e-business solutions
integrating Ascential's DataStage(R), and Media360(TM) products.
FIRST QUARTER EARNINGS AND OUTLOOK
"We are extremely pleased with our accomplishments for the first quarter. First,
we are pleased with our financial results, especially in the context of the
dramatic slowdown of the economy that resulted in reduced technology spending as
well as the challenges of completing the transaction with IBM that we announced
today," commented Mr. Gyenes. "Also very importantly, Ascential made significant
strides in the development of its business in the quarter while completing the
task of establishing its own operating company. We further developed strategic
alliances with IBM and with other soon-to-be-announced enterprise solution
partners that we expect to have a major impact on our future business
opportunities. Finally, in conjunction with our channel partners we opened major
new accounts such as Boeing, Agilent and BASF."
Mr. Gyenes added, "While we have achieved much in launching Ascential and we
have greater prospects and business visibility than ever, we believe that in the
context of the current economic climate and the near-term requirements of
completing the transaction with IBM, it is prudent to reset our revenue growth
expectations for 2001 to approximately 35% to 40% above 2000. We believe this
revenue goal will allow us the time to further develop and strengthen the
Ascential organization and create the foundation to execute our partnering plans
with IBM and with others. Ascential will then be positioned for more rapid
growth of approximately 40% to 50% in 2002 when the economic climate is expected
to once
again improve. We continue to fully expect to achieve sustained profitability
during the fourth quarter of this year, and we feel very well positioned to
capitalize should the economy improve earlier than expected."
In light of the pending transaction with IBM, the Company is not providing
guidance on the operations of Informix Software.
GUIDANCE ON ASCENTIAL'S OPERATING MODEL
o Revenue growth of 35% to 40% in 2001 over 2000 and 40% to 50% growth in
2002 over 2001 is projected. Approximately 15% sequential growth is
expected in the second quarter 2001 as compared to the first quarter just
reported.
o Gross Margin is expected to progressively increase from 50% in the first
quarter to between 65% and 70% by year-end 2001. Further expansion to
between 70% and 75% by year-end 2002 is projected, based on planned revenue
growth.
o Operating expenses were approximately $38 million in the first quarter, and
are expected to decrease somewhat throughout the year, before charges and
non-recurring items, as increased efficiencies take effect.
o Operating Margin is expected to improve progressively during the year to
approximately 5% in the fourth quarter of 2001 and to expand to between 15%
and 20% by year-end 2002, based on planned revenue growth.
o One-time cash expenses associated with closing the IBM acquisition and
related transition expenses in support of Ascential are estimated to be
between $30 and $40 million and will be recorded as incurred after closing
and in one or two subsequent quarters.
SELECTED QUARTERLY HIGHLIGHTS
During the quarter, Ascential Software continued its track record of significant
new customer acquisition, establishing several new key partnerships and
extending its product portfolio to provide a comprehensive software framework
that addresses the requirements for Information Asset Management. Highlights of
the quarter include:
o Signed 127 new customers, including: Turner Broadcast System, Miller
Brewing, Gerling Holdings, Dana Corporation, Bombardier, Sandia
National Labs, Anatel, iMedLink, Assurant Group, JM Family, Canadian
Imperial Bank of Commerce (CIBC), US Army, Samsung Electric, Lufthansa
and COPEL, Brazil's state electronics utility. Ascential's DataStage is
now the recommended corporate data integration solution for Novartis,
General Motors, Dana Corporation, DaimlerChrysler, and International
Paper, among others.
o Announced a strategic partnership with Torrent Software to create the
first linear scalable data integration solution, allowing companies to
integrate, transform and share massive amounts of corporate data for
business intelligence, customer relationship management (CRM) and
e-commerce applications.
o Significantly expanded the company's relationships with key global
partners. The company is now a member of Sun Microsystems' iForce
program and has entered into a strategic marketing agreement with Cisco
for its iQ EcoSystem Program. Additionally, the Company signed alliance
agreements with Siebel Systems and JD Edwards and is working with
Avalon/EMC to integrate their technologies for the media market. During
the quarter the Company also signed 15 new systems integrator partners
for the Media360 product.
o Expanded our partnership activities with SAP, including optimizing
DataStage for the mySAP Business Intelligence platform. Also increased
the number of joint Ascential/SAP customers to over 60.
o Realized significant market acceptance of DataStage/XE 390, the
industry's only data integration solution with native support for
mainframe, Unix, and NT platforms. New customers utilizing this
solution include Banco Santander Central Hispano, General Motors, Clear
Communications, Ltd., Northwest Airlines, Independence Blue Cross and
the State of Arkansas.
o Delivered significant new capabilities in Media360 Version 2.0 with
targeted features for broadcast and publishing applications. Added 13
new Media360 customers, including Turner Broadcast System,
DaimlerChrysler, iMedLink, Anatel, Allegra and Sogecable.
o Delivered new versions of the company's enterprise information portal
product, Axielle Version 1.4, as well as the company's web analytics
solution WebSuccess Version 1.1. Both releases provide increased
performance capabilities. WebSuccess was enhanced to enable the
analysis of clickstream data across multiple web servers.
o Conducted major events to launch the Ascential Software branding and
company in major cities worldwide involving thousands of customers and
partners as well as key press and industry analyst participants.
Informix Software achieved the following during the first quarter:
o Notable significant orders from major customers in the first quarter
include SBC Communications, DHL Systems, SAP AG, American Airlines,
Lucent Technologies, Kroger Co., and Hewitt Associates LLC, among
others.
o Noteworthy new enterprise database customers, include Siemens, France
Telecom, Alta Vista, Dedalus Sistemas and StatSignal Systems.
o Announced a strategic partnership agreement with BroadVision providing
for mutual product integration and joint marketing of One-To-One
Enterprise 6.0 with Informix Dynamic Server for superior scalability
and extensibility.
o Introduced Informix Financial Foundation, initiating a new product
bundling strategy to deliver customized database-driven solutions to
vertical markets that is planned to be rolled out throughout 2001.
o Announced the general availability of Extended Parallel Server
8.31.UD1, and demonstrated the superior performance of XPS by setting a
world record on the 1000GB TPC-H benchmark running on a Hewlett Packard
platform.
o Announced the general availability of Informix OnLine 5 on Linux,
further extending the popular embeddable OLTP database to small and
mid-sized companies.
o Announced the release of Cloudscape 3.6, providing new security and
usability functionality along with features to support Sun
Microsystems' Java 2 Platform, Enterprise Edition (J2EE) Software
Development Kit.
CONFERENCE CALL
Management will host a conference call at 8:00 AM (EST.) on April 24, 2001 to
discuss the information included in today's release. To access the conference
call, please dial 888-455-5419 or 630-395-0406 for international access. The
password for the call is "Informix". The conference call will also be broadcast
live through a link on the Investor Relations page on the Informix web site at
www.informix.com.
Please go to the web site at least fifteen minutes prior to the call to
register, download and install any necessary audio software.
For those who cannot attend the live broadcast, a replay will be available on
the web site at www.informix.com or by calling 402-998-0477 from two hours after
the call ends until 8:00 p.m. on May 1, 2001.
ABOUT INFORMIX SOFTWARE
Informix Software, the database company, is a leading provider of database
management systems for data warehousing, transaction processing and e-Business
applications. With more than 100,000 customers worldwide, Informix Software
delivers high-performance database systems in markets including retail,
financial services, government, healthcare, manufacturing, media and publishing,
and telecommunications. For more information, visit the Informix Web site
www.informix.com.
ABOUT ASCENTIAL SOFTWARE
Ascential Software is the leading provider of Information Asset Management
solutions to the Global 2000. Customers use Ascential products to turn vast
amounts of disparate, unrefined data into reusable information assets that drive
business success. Ascential's unique framework for Information Asset Management
enables customers to easily collect, validate, organize, administer and deliver
information assets to realize more value from their enterprise data, reduce
costs and increase profitability. Headquartered in Westboro, Mass., Ascential
has offices worldwide and supports more than 1700 customers in such industries
as telecommunications, insurance, financial services, healthcare,
media/entertainment and retail. Ascential is an independent operating company of
Informix Corporation (NASDAQ:IFMX) and can be found on the Web at
HTTP://WWW.ASCENTIALSOFTWARE.COM.
SAFE HARBOR STATEMENT
This public announcement contains forward-looking statements that are subject to
numerous risks and uncertainties. These forward-looking statements include,
without limitation, those as to:
Completing strategic relationships with IBM and other soon-to-be-announced
enterprise solution partners that will have the anticipated major impact on the
Company's future business opportunities;
The Company's ability to achieve approximately 35-40% revenue growth in 2001;
Developing and strengthening the Ascential organization to position the Company
for even more rapid growth of 40-50% in 2002;
The Company's ability to capitalize on any earlier improvement in the economy
before the fourth quarter;
The Company's ability to achieve sustained profitability during the fourth
quarter of 2001;
The Company's ability to achieve 15% sequential growth in the second quarter of
2001;
The Company's ability progressively to increase gross margin from 50% in the
first quarter to between 65% and 70% by year-end 2001;
The Company's ability further to expand gross margin to between 70% and 75% by
year-end 2002;
The Company's ability to decrease operating expenses throughout 2001 before
charges and non-recurring items;
The Company's ability progressively to improve operating margin during 2001 to
approximately 5% in the fourth quarter and to expand operating margin to between
15% and 20% by year-end 2002; and
The Company's ability to limit one-time cash expenses associated with the
closing the IBM transaction and related transition expenses in support of
Ascential to between $30 and $40 million.
Any statements contained in this public announcement, including without
limitation statements to the effect that the Company or its management
"believes," "expects," "anticipates," "plans," "may," "will," "projects,"
"continues," "intends" or "estimates," or statements concerning "potential" or
"opportunity" or other variations thereof or comparable terminology or the
negative thereof that are not statements of historical fact, should be
considered forward-looking statements as a result of certain risks and
uncertainties. These risks and uncertainties could cause actual results and
events materially to differ for historical or anticipated results and events.
Investors and potential investors should review carefully the description of
risks and uncertainties which, together with other detailed information about
the Company, is contained in the periodic reports that the Company files from
time to time with the Securities and Exchange Commission, including the
Company's Form 10-K for fiscal year 2000.
(C)2001 INFORMIX CORPORATION. ALL RIGHTS RESERVED. THE FOLLOWING ARE
TRADEMARKS OF INFORMIX CORPORATION OR ITS AFFILIATES, ONE OR MORE OF WHICH
MAY BE REGISTERS IN THE U.S. OR OTHER JURISDICTIONS: INFORMIX(R);
MEDIA360(TM); DATASTAGE(R); I.DECIDE(TM), LOADPACK(TM), RED BRICK(R), AND
DECISION SERVER(TM). ASCENTIAL(TM) IS A TRADEMARK OF ASCENTIAL SOFTWARE, INC.
AND MAY BE REGISTERED IN OTHER JURISDICTIONS.
Tables to Follow
INFORMIX CORPORATION
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(IN THOUSANDS, EXCEPT PER SHARE DATA)
Three Months Ended
March 31,
2001 2000
---- ----
NET REVENUES
Licenses $97,200 $119,279
Services 119,857 131,605
------- -------
217,057 250,884
COSTS AND EXPENSES
Cost of software distribution 13,252 12,585
Cost of services 41,543 48,732
Sales and marketing 82,443 98,798
Research and development 35,685 43,355
General and administrative 26,525 20,244
------ ------
199,448 223,714
Operating income 17,609 27,170
------ ------
OTHER INCOME (EXPENSE)
Interest income 2,641 3,302
Interest expense (34) (171)
Other, net 927 3,513
--- -----
INCOME BEFORE INCOME TAXES, excluding non-recurring charges 21,143 33,814
Income taxes 2,877 6,763
----- -----
INCOME, excluding non-recurring charges $18,266 $27,051
Preferred stock dividend -- (87)
-- ----
INCOME APPLICABLE TO COMMON STOCKHOLDERS,
excluding non-recurring charges $18,266 $26,964
======= =======
NON-RECURRING CHARGES
Merger, realignment and other charges 4,217 50,034
----- ------
NET INCOME (LOSS) APPLICABLE TO COMMON STOCKHOLDERS $14,049 $(23,070)
======= =========
INCOME PER COMMON SHARE,
excluding non-recurring charges $0.06 $0.09
===== =====
SHARES USED IN PER SHARE CALCULATION,
excluding non-recurring charges 299,884 307,524
======= =======
NET INCOME (LOSS) PER COMMON SHARE
Basic $0.05 $(0.08)
===== =======
Diluted $0.05 $(0.08)
===== =======
SHARES USED IN PER SHARE CALCULATIONS
Basic 287,088 283,615
======= =======
Diluted 299,884 283,615
======= =======
INCOME PER SHARE, excluding non-recurring charges and
amortization of purchased intangibles $0.07 $0.10
===== =====
INFORMIX CORPORATION
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(IN THOUSANDS)
ASSETS March 31, 2001 December 31, 2000
CURRENT ASSETS
Cash and cash equivalents $176,781 $128,420
Short-term investments 77,865 88,541
Accounts receivable, net 205,812 235,429
Other current assets 21,419 17,330
------ ------
Total current assets 481,877 469,720
PROPERTY AND EQUIPMENT, net 65,619 67,617
SOFTWARE COSTS, net 39,112 41,444
LONG-TERM INVESTMENTS 10,573 11,185
INTANGIBLE ASSETS, net 45,400 48,258
OTHER ASSETS 17,428 17,657
------ ------
Total Assets $660,009 $655,881
======== ========
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable $22,048 $27,881
Accrued expenses 38,263 38,922
Accrued employee compensation 56,806 66,167
Income taxes payable 23,557 23,139
Deferred revenue 157,757 141,735
Advances from customers 9,755 10,492
Accrued merger and restructuring costs 12,847 28,210
Other current liabilities 366 427
--- ---
Total current liabilities 321,399 336,973
OTHER NON-CURRENT LIABILITIES 715 787
STOCKHOLDERS' EQUITY
Convertible preferred stock -- --
Common stock; par value 2,822 2,804
Shares to be issued for litigation settlement 61,228 61,228
Additional paid-in capital 639,311 632,866
Accumulated deficit (345,084) (359,132)
Accumulated other comprehensive loss (20,382) (19,645)
-------- --------
Total stockholders' equity 337,895 318,121
------- -------
Total Liabilities and Stockholders' Equity $660,009 $655,881
======== ========
IBM AND ASCENTIAL SOFTWARE FORM GLOBAL STRATEGIC ALLIANCE TO PROVIDE
LEADING BUSINESS INTELLIGENCE AND INFORMATION ASSET MANAGEMENT SOLUTIONS
-- IBM TO MARKET AND SELL NEW E-BUSINESS SOLUTIONS INTEGRATING
DATASTAGE AND MEDIA360 PRODUCTS--
PUBLIC RELATIONS CONTACTS:
Joe Stunkard
IBM Malinda Banash
914-766-1779 Miller Consulting for Ascential Software
STUNKARD@US.IBM.COM 617-262-1800 x232
MALINDA@MILLERGRP.COM
Dan Martin
Miller Consulting Group for
Ascential Software
(617) 262-1800 x223
DAN@MILLERGRP.COM
SOMERS, NY AND WESTBORO, MA., -- APRIL 24, 2001 -- IBM (NYSE:IBM) and
Ascential(TM) Software, an independent operating companY OF Informix(R)
Corporation (Nasdaq:IFMX), today announced a global strategic alliance to
develop and market business intelligence anD digital asset management offerings
for Information Asset Management, bringing the advanced features of Ascential
Software's products to IBM's strategic hardware and software platforms. This new
relationship provides IBM with industry leading products that complement its
existing e-business solutions, while increasing the sales distribution capacity
of Ascential Software.
Under terms of the agreement, Ascential Software will integrate its DataStage(R)
product line with IBM's DB2* Warehouse Manager, giving customers the ability to
integrate data from virtually any environment into a DB2*-based data warehouse,
thereby fully leveraging their information assets. In addition, Ascential
Software's media asset management offering, Media360(TM), will be
part of an IBM preferred solution and will support IBM's AIX* operating system
and DB2* Universal Database. This will enable customers to manage an array of
unstructured assets including video, audio, images, documents and web pages,
increasing operational efficiencies. IBM will market and resell these new
solutions through its worldwide sales channel and Global Services organization.
This alliance will empower Global 2000 companies to better use business
intelligence and media content management solutions to manage all their
information assets across the organization. It will also allow companies to
access relevant information assets inside and outside the corporation and
re-purpose those assets for competitive economic advantage.
Through collaborative development, Ascential Software's data
integration products, DataStage(R) and DataStage 390, will be optimized for the
IBM platform. DataStage for DB2* Warehouse Manager will perform the vital
functions necessary to extract, transform and integrate data from a wide variety
of sources and applications. Customers will benefit from a data integration
solution optimized for their DB2 environment, providing a scalable platform for
Customer Relationship Management (CRM), business intelligence and supply chain
management applications.
"Managing information assets is fundamental to the growth and success
of every company today," said Janet Perna, general manager, IBM's Data
Management Solutions. "Our DB2 and AIX platforms, combined with Ascential
Software's data integration and media asset management offerings, will allow us
to deliver new solutions to integrate and manage the growing volume and variety
of data in today's enterprise."
"The alliance with IBM is an exciting prospect for Ascential and our
customers. It validates our commitment to establishing strategic alliances with
the industry's leading solution providers, and is a key element of delivering on
our Information Asset Management strategy," said Pete Fiore, president,
Ascential Software. "By combining two great product portfolios, we believe we're
very well positioned to deliver enhanced products and solutions to our customers
and prospects worldwide."
Ascential Software joins the ranks of leading independent software vendors such
as Siebel Systems, PeopleSoft and Retek as a member of the PartnerWorld for
Developers program (www.developer.ibm.com). These alliances provide solutions to
industries such as financial services, retail, and manufacturing, and solution
segments including enterprise resource planning, supply chain management,
customer relationship management and business intelligence.
ABOUT ASCENTIAL SOFTWARE, INC.
Ascential Software, Inc. is the leading provider of Information Asset Management
solutions to the Global 2000. Customers use Ascential products to turn vast
amounts of disparate, unrefined data into reusable information assets that drive
business success. Ascential's unique framework for Information Asset Management
enables customers to easily collect, validate, organize, administer and deliver
information assets to realize more value from their enterprise data, reduce
costs and increase profitability. Headquartered in Westboro, MA., Ascential has
offices worldwide and supports more than 1700 customers in such industries as
telecommunications, insurance, financial services, healthcare,
media/entertainment and retail. Ascential is an independent operating company of
Informix Corporation (NASDAQ:IFMX) and can be found on the Web at
HTTP://WWW.ASCENTIALSOFTWARE.COM.
ABOUT IBM
IBM is the world's largest information technology company, with 80 years of
leadership in helping businesses innovate. The fastest way to get more
information about IBM is through the IBM home page at HTTP://WWW.IBM.COM
# # #
* Indicates trademarks of IBM Corporation.
(C)2001 Ascential Software, Inc. All rights reserved. Ascential(TM) is a
trademark of Ascential Software, Inc. and may be registered iN other
jurisdictions. The following are trademarks of Informix Corporation or its
affiliates, one or more of which may be registered in the U.S. or other
jurisdictions: DataStage(R) and Media360(TM).
Safe Harbor Statement
This public announcement contains forward-looking statements that are subject to
numerous risks and uncertainties. Any statements contained in this public
announcement, including without limitation statements to the effect that the
Companies or their managements "believes," "expects," "anticipates," "plans,"
"may," "will," "projects," "continues," "intends" or "estimates," or statements
concerning "potential" or "opportunity" or other variations thereof or
comparable terminology or the negative thereof that are not statements of
historical fact, should be considered forward-looking statements as a result of
certain risks and uncertainties. These risks and uncertainties could cause
actual results and events materially to differ for historical or anticipated
results and events. Investors and potential investors should review carefully
the description of risks and uncertainties which, together with other detailed
information about the Companies, is contained in the periodic reports that the
Companies file from time to time with the Securities and Exchange Commission,
including the Companies' Forms 10-K for fiscal year 2000.