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Day: January 20, 1999

Workgroup technology reports third-quarter financial results

Workgroup Technology Corporation, (the PDM system provider) announced its financial results for the third quarter of fiscal year 1999 ended December 31, 1998. For the third quarter of fiscal 1999, WTC reported revenue of $2,183,000 compared with $1,897,000 in the third quarter of fiscal 1998. The net loss for the third quarter of fiscal 1999 was $2,120,000, or $0.25 per share, compared with a net loss of $1,727,000, or $0.21 per share, for the third quarter of fiscal 1998. Revenue for the first nine months of fiscal 1999 was $6,093,000, compared with $5,611,000 for the comparable period one year ago. The net loss for the first nine months of fiscal 1999 was $6,841,000, or $0.81 per share, versus a net loss of $5,437,000, or $0.66 per share, for the first nine months of fiscal 1998. www.workgroup.com

W3C issues WebCGM Profile as a recommendation

World Wide Web Consortium has released the WebCGM Profile as a W3C Recommendation. Developed in close collaboration between W3C and the CGM Open Consortium, the profile reflects cross-industry agreement on an interoperable way to exchange dynamic, hyperlinked Computer Graphics Metafile (CGM) files over the Web. CGM is an ISO standard graphics format widely used in the aerospace, defence, automotive and medical industries, for example in interactive online technical manuals. Members of CGM Open, W3C, or both who contributed include: ArborText, Auto-trol Technologies, Aerospatiale, Bentley Systems, The Boeing Company, CCLRC, Inso Corporation, Intercap Graphics Systems, ITEDO/IsoDraw, Jeppesen Inc, Larson Software Technology, NIST, System Development Inc, Xerox Corporation and Zeh Graphic Systems. The work was also supported by the European Commission’s Esprit Project and undertaken in liaison with ISO/IEC JTC 1/SC24, the ISO working group which developed the CGM specification. www.w3.org, www.cgmopen.org

Documentum announces revenue and profits for the fourth quarter

Documentum announced their revenues and net income for the fourth quarter and year ended December 31, 1998. Revenues for the fourth quarter of 1998 were $36.4 million, a 54 percent increase over revenues of $23.6 million for the same period of 1997. Net income for the fourth quarter increased to $4.2 million compared with net income of $2.8 million reported for the same period of 1997. Earnings per diluted share grew 33 percent to $.24 in the fourth quarter, up from $.18 for the fourth quarter of 1997. For comparative purposes, except where noted, the annual results exclude the effects of a one time charge in the first quarter of 1998 of $2.2 million primarily related to the previously announced acquisition of Workgroup Management, Inc., which closed on January 5, 1998, and a one time charge in the third quarter of 1998 of $34.6 million related to the previously announced acquisition of Relevance Technologies, Inc., which closed on July 16, 1998. For the year ended December 31, 1998, revenues were $123.8 million, a 64 percent increase over revenues of $75.6 million for the same period of 1997. Net income for the year ended December 31, 1998 was $12.9 million, or $.75 per diluted share, up from $7.4 million, or $.49 per diluted share for the same period of 1997. www.documentum.com