Ontrack makes 40 per cent increase in first quarter

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Ontrack has announced its financial results for the first quarter ending 31 March 2000. Total revenues were $11,784,000, a 40 per cent increase over the first quarter of 1999. 

Net income was $1,290,000, compared with $900,000, in the same period a year ago. Excluding the amortisation of goodwill, relating to Ontrack’s acquisition of Mijenix Corporation, net income per diluted share in the first quarter of 2000 was 15 cents compared with nine cents.

Ontrack’s data recovery service showed product revenues totaling $8,809,000, a 23 per cent increase. All services and products, including in-lab data recovery services, remote data recovery services, data recovery software and electronic information management, showed increases. 

In its recently-expanded software range the company made revenues of $2,975,000, an increase of 136 per cent, due principally to the sales of SystemSuite, Fix-It Utilities, ZipMagic and Easy Uninstall.

“We are pleased with the strong top-line growth achieved by our data recovery and software business areas,” said Ben Allen, general manager. “These gains reflect the growing recognition that Ontrack is receiving across the global marketplace for the quality and innovation of its products and services.”

“We are continuing to expand our sales and marketing infrastructure to ensure we maintain the high standard our customers have come to expect from us. We also benefited in the quarter from a $579,000 reimbursement of costs from Legato, incurred in 1999 by Ontrack during the proposed merger that was terminated in January,” Allen added.

Ontrack is a single-source provider of data availability solutions, helping customers protect, backup and restore, and recover data. Using its hundreds of proprietary tools and techniques, Ontrack can recover lost or corrupted data from all operating systems and types of storage devices through its do-it-yourself, remote and in-lab capabilities. With its acquisition of Mijenix, Ontrack provides award-winning software tools to prevent critical data loss. 

In addition to its Minneapolis headquarters, Ontrack operates data recovery centres in Los Angeles, Washington, DC, New York, Tokyo, London, Paris and Stuttgart and maintains Mijenix headquarters in Colorado.

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