EXHIBIT 99
FOR IMMEDIATE RELEASE:
INVESTOR RELATIONS CONTACT: MEDIA RELATIONS CONTACT:
Neil Yekell Arch Currid
(713) 918-4233 (713) 918-3236
neil_yekell@bmc.com arch_currid@bmc.com
BMC SOFTWARE ANNOUNCES PRELIMINARY FINANCIAL RESULTS FOR FIRST
QUARTER FISCAL 2004
HOUSTON -- (July 7, 2003) -- BMC Software, Inc. (NYSE: BMC) today released
preliminary financial results for the first quarter of fiscal 2004. BMC Software
preliminarily estimates total revenues for the first quarter ended June 30, 2003
to be in the range of $305 million to $312 million, which is below the estimated
revenue range of $320 million to $335 million that the Company provided in
April. License revenues are preliminarily estimated to be in the $105 million to
$110 million range. BMC Software will report final results on July 28th.
The Company experienced unanticipated delays in customer purchasing
decisions that impacted corporate revenue performance. These delays were
concentrated among larger accounts. The Company completed 16 license
transactions in excess of $1 million in the first quarter of fiscal 2004,
compared to 25 license transactions in excess of $1 million in the same quarter
of last year.
Earnings per share excluding special items for the first quarter of
fiscal 2004 are preliminarily estimated to be in the range of $.01 to $.04 per
diluted common share, which compares to the earnings per share estimated range
of $.05 to $.10 provided by the Company in April. First quarter of fiscal 2004
earnings per share on a GAAP basis are preliminarily estimated to be in the
range of a loss of $.04 to a loss of $.01 per diluted common share, which
compares to the GAAP earnings per share estimated range of $.00 to $.05 that the
Company provided in April. The difference between the earnings per share
excluding special items and the GAAP earnings per share is that the earnings per
share excluding special items does not include $.05 per diluted common share
related to acquisition-related amortization of intangibles.
The Company's financial position remains strong. Cash and marketable
securities ended the quarter at over $1 billion. Cash flow from operations is
preliminarily estimated to be over $100 million.
A conference call to discuss preliminary first quarter results is
scheduled for today at 9:00 a.m. CDT. Those interested in participating may call
(719) 457-2637 and use the passcode BMC. To access a replay of the conference
call, which will be available for one week, dial (719) 457-0820 and use the
passcode BMC. A live webcast of the conference call will be available on the
Company's website at www.bmc.com/investors. A replay of the webcast will be
available within 24 hours and archived on the website for 90 days.
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ABOUT BMC SOFTWARE
BMC Software, Inc. [NYSE:BMC], is one of the 10 largest software companies in
the world and a leading provider of enterprise management solutions that
empower companies to manage their IT infrastructure from a business perspective.
Delivering Business Service Management, BMC Software solutions span enterprise
systems, applications, databases and service management. Founded in 1980, BMC
Software has offices worldwide and fiscal 2003 revenues of more than $1.3
billion. For more information about BMC Software, visit www.bmc.com.
The preliminary financial estimates and statements concerning BMC Software's
future prospects contained in this press release are "forward-looking
statements" under the Private Securities Litigation Reform Act of 1995. The
preliminary estimates of revenues, earnings per share and cash flow from
operations contained in this press release are subject to change. BMC Software
will report final financial results for the June 2003 quarter after it has had
additional time for the collection and compilation of additional financial data.
These final financial results for the June 2003 quarter could be materially
different from the estimates in this press release. Numerous important factors
affect BMC Software's operating results and could cause BMC Software's actual
results to differ materially from forecasts and estimates or from any other
forward-looking statements made by, or on behalf of, BMC Software, and there can
be no assurance that future results will meet expectations, estimates or
projections. These factors include, but are not limited to, the following: 1)
uncertainty regarding future economic conditions worldwide may continue to
affect the overall demand for software and services and any worsening of
significant economies could result in decreased revenues or lower revenue growth
rates; 2) BMC Software's revenues and earnings are subject to a number of
factors, including the significant percentage of quarterly sales typically
closed at the end of each quarter, that make estimation of operating results
prior to the end of a quarter extremely uncertain; 3) BMC Software's operating
costs and expenses are relatively fixed over the short term; 4) increased
competition and pricing pressures could adversely affect BMC Software's
earnings; 5) growth in BMC Software's mainframe revenues is dependent on
continued demand for significant additional mainframe MIPS capacity; 6) BMC
Software's maintenance revenue could decline if maintenance renewal rates
decline or if license revenues do not continue to grow; 7) new software products
and product strategies may not be timely introduced or successfully adopted; 8)
BMC Software's cash flow from operations is and has been volatile and is
dependent upon a number of factors described in BMC Software's filings with the
SEC; 9) the additional risks and important factors described in BMC Software's
quarterly reports on Form 10-Q and in its Annual Report to Stockholders on Form
10-K for the fiscal year ended March 31, 2003 and other filings with the SEC.
BMC Software undertakes no obligation to update information contained in this
release.
BMC Software, the BMC Software logos, and all other BMC Software product or
service names are registered trademarks or trademarks of BMC Software, Inc. (C)
2003 BMC Software, Inc. All rights reserved.