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EXHIBIT 99.1
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SELECTED FINANCIAL DATA
STATEMENT OF OPERATIONS DATA:
Year Ended December 31,
(in thousands, except per share data)
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1996 1995 1994 1993 1992
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Revenues............................................. $ 59,263 $ 37,830 $ 27,893 $ 22,600 $ 16,782
Direct costs......................................... 16,537 10,285 7,418 6,016 4,442
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Gross margin......................................... $ 42,726 $ 27,545 $ 20,475 $ 16,584 $ 12,340
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Operating income (loss).............................. $ (5,736) $ 659 $ (2,667) $ 812 $ 365
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Net income (loss) applicable to common shareholders $ (13,095) $ (1,941) $ (2,088) $ 3,071 $ (222)
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Net income (loss) per common share................... $ (0.71) $ (0.13) $ (0.16) $ 0.25 $ (0.02)
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Weighted average common and common equivalent
shares outstanding............................... 18,465 15,007 12,693 12,515 10,867
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Pro forma net loss data(1):
Pro forma net loss applicable to common
shareholders................................. $ (13,095) $ (1,425)
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Pro forma net loss per common share.............. $ (0.71) $ (0.10)
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Weighted average common and common
equivalent shares outstanding................ 18,465 15,007
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Operating income(2).................................. $ 3,039 $ 1,819 $ 1,650 $ 812 $ 365
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Net income (loss) applicable to common
shareholders(3).................................. $ 1,715 $ 762 $ 652 $ 3,071 $ (222)
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Net income (loss) per common share(3)................ $ 0.09 $ 0.05 $ 0.05 $ 0.25 $ (0.02)
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BALANCE SHEET DATA:
(in thousands) At December 31,
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1996 1995 1994 1993 1992
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Working capital...................................... 3,190 11,564 2,838 3,964 590
Total assets......................................... 48,793 46,404 21,347 16,923 9,038
Long-term obligations, redeemable preferred stock
and puttable common stock........................ 1,449 6,347 3,016 5,146 7,331
Shareholders' equity................................. 24,842 27,509 6,734 5,649 (2,973)
(1) The pro forma net loss data reflects the income tax expense that would have
been reported if SupplyTech, Inc. (a S corporation for income tax reporting
purposes) and SupplyTech International, LLC (a limited liability corporation
for income tax reporting purposes) had been C corporations during these
periods.
(2) Excludes $8.8 million, $1.2 million and $4.3 million in charges for 1996,
1995 and 1994, respectively, for purchased in-process product development,
write-off of software development costs and acquisition related charges.
(3) Excludes equity in loss of HNS, expected to recur, of $7 million and
$954,000 for 1996 and 1995, respectively, and $8.8 million, $1.2 million and
$4.3 million in charges for 1996, 1995 and 1994, respectively, for purchased
in-process product development, write-off of software development costs and
acquisition related charges. All amounts are net of related income taxes.
Note: All share, per share and shareholders' equity amounts have been
retroactively restated to reflect a three-for-two stock split effected in
the form of a 150% stock dividend paid on January 31, 1997.
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