Excalibur Announces Fourth Quarter Earnings and Year-End Financial Results

Excalibur Technologies (http://www.excalib.com) reported financial results for its fourth quarter and fiscal year ended January 31, 2000.

Total revenue for the fourth quarter was $12.7 million, an increase of 35% over total revenue of $9.5 million reported for the same quarter last fiscal year. For the quarter, the Company recorded net income of $2.7 million, or $0.17 per diluted share compared to net income of $0.6 million, or $0.04 per diluted share in the fourth quarter last year.

For the fiscal year ended January 31, 2000 total revenue was $37.9 million, an increase of 36% over total revenue of $27.9 million last fiscal year. The Company recorded a net loss of $0.3 million, or $0.02 per share this fiscal year compared to a net loss of $3.9 million, or $0.29 per share last year. Excluding a $430 thousand write-off related to termination of the ETNV joint venture in Belgium, the Company posted net income for the fiscal year ended January 31, 2000 of $0.1 million or $0.01 per share.

"FY 2000 was the best in Excalibur's history and Q4 represented our eleventh straight quarter of year-over-year revenue growth," stated Patrick C. Condo, CEO and President of Excalibur. "The organizational changes we made at the start of Q4 focused resources more specifically along product lines as planned and significantly contributed to the results achieved. Each business unit finished the year with a great quarter and the Company enjoys a very solid position heading into fiscal year 2001."

In November 1999, the Company formed two business units, the Excalibur Applications Group and the Excalibur Media Services Group. The Media Services Group includes the Screening Room product line and the Excalibur ASPenVM architecture which enables video management and indexing.

The Excalibur Media Services Group achieved total revenue of $4.6 million for the year ended January 31, 2000, an increase of 163% over total revenue of $1.7 million last fiscal year. The Media Services Group recorded a loss of $4.4 million this fiscal year compared to a loss of $5.1 million last year.