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AUTONOMY CORPORATION Plc - Quarterly Results Announcement For The 3rd Quarter Ended 30 September 1999
November 16, 1999
Autonomy Corporation plc ("Autonomy") is a leading provider of Knowledge Management and New Media technology products, which automate the handling of vast amounts of unstructured information on the Internet and across the enterprise. Autonomy floated on Easdaq (EASD: AUTN) in July 1998.
Key Features
Q3 1999 versus Q3 1998
- Turnover up 174% to GBP 4.70 million (Q3 1998: GBP 1.7 million)
- Gross margins at 85% (Q3 1998: 89%)
- Gross profits increased 162% to GBP 3.99 million Q3 1998: GBP 1.52 million)
- Operating loss before taxation of GBP 0.25 million including exceptional costs of accelerated European expansion, retained loss after minority interest and forex translation loss of GBP 0.71 million (Q3 1998: loss before and after tax of GBP 0.43 million)
- Basic loss per share for Q3 1999 of 1.75p (Q3 1998: loss per share of 1.1p)
Q3 1999 versus Q2 1999
- Turnover up 27% to GBP 4.70 million (Q2 1999: GBP 3.71 million)
- Gross profits increased 17% to GBP 3.99 million (Q2 1999: GBP 3.40 million)
- Loss before and after tax of GBP 0.65 million, retained loss after minority interest of GBP 0.71 million (Q2 1999: profit before and after tax of GBP 0.27 million, retained profit after minority interest of GBP 0.29 million)
- Basic loss per share for Q3 1999 of 1.75p (Q2 1999: earnings per share of 0.73p)
Corporate highlights
- US offices deliver record sales with a 120% increase on previous quarter
- Significant e-commerce successes, including $1 million US e-commerce deal
- Accelerated expansion of European sales operations with the addition of four new offices and 11 new sales staff
- New OEM contracts signed in: e-commerce, web publishing, corporate portals and network security
- New Internet portal customers include: Caredata.com, Iconocast and the Holiday Channel
- High-profile corporate customers include: PricewaterhouseCoopers, Frito Lay, Siemens and Ogilvy Public Relations Worldwide
- Senior US management team strengthened with key new appointments
- Strategic alliance forged with Oracle
- Growth in product development and customer service operations with nine new hires across US and European operations
- Industry recognition grows with high-profile awards in US and Europe
Commenting on the results Dr Mike Lynch, Managing Director and Chief Executive Officer of Autonomy Corporation plc today said:
This is our sixth consecutive quarter of record revenue growth and one which reflects the strong results delivered by our US operations. We've also capitalised upon an opportunity to significantly expand our European operations by purchasing an existing pan-European distribution network. Despite this additional, unbudgeted investment in infrastructure and management, the robustness of the underlying business has still enabled us to deliver results in line with expectations.
We are rapidly penetrating new markets through the strong growth in OEM licensing sales. We believe this will help sustain future growth and illustrates that there is an increasing market demand for Autonomy's technology to be embedded within software products addressing multiple markets.
We look forward to continuing our work in building the business and reinforcing our leadership position as the software supplier which is automating the Internet economy."
Autonomy Delivers Record Growth for the Sixth Consecutive Quarter
Third Quarter 1999 Revenues of £4.7 Million - a 174% Year-on-Year Increase in Sales
Cambridge, England and San Francisco, California, Tuesday 16th November, 1999 - Autonomy Corporation plc (EASDAQ: AUTN) today announced net revenues for its 3rd quarter ended September 30, 1999 of GBP 4.70 million, a 174% increase on the comparable period in 1998. This also represents an increase of 27% over the 2nd quarter of 1999. Autonomy also announced gross profits of GBP 3.99 million, a 162% increase on the comparative quarter of 1998 and a 17% increase on the 2nd quarter of 1999.
Gross margins were 85% compared to 92% from the prior quarter. Net loss before foreign exchange translation was GBP 0.25 million in the 3rd quarter of 1999 against a net loss of 0.21 million in the 2nd quarter of 1999. Basic loss per share was achieved of 1.75p, as compared to an earnings per share reported in the 2nd quarter of 1999 of 0.73p.
Sales from our US operations moved ahead by 120% on a quarter-on-quarter basis with eight new OEM customers and significant progress in the emerging e-commerce market.
New Media Portals Chose Autonomy
Autonomy's New Media technology continues to attract major interest in the US and across Europe, where it now provides the infrastructure for some of the largest content portals in the world. This quarter, agreements have been signed with portals addressing the following markets: healthcare, Internet marketing, journalism and the pan-European student community.
Caredata.com, the leading Internet healthcare content provider, has purchased Autonomy's technology to automatically process the large amounts of high-value information and research that they provide over the Web. Aimed at healthcare organizations, physicians and pharmaceutical manufacturers as well as consumers, Caredata.com is the first Autonomy customer in the healthcare market.
Iconocast has adopted Autonomy's Portal-in-a-Box™ to power its new industry-focused portal site. Iconocast is the US's definitive source for facts, figures, trends, and rumours in the Internet marketing industry. Autonomy will automate the management and delivery of industry news, analysts' research and opinion pieces through this co-branded portal. The Net Imperative, an e-commerce portal aimed at the European Internet venture capital and web community, will also use Autonomy's Portal-in-a-Box to automatically bring together the latest industry news, debate and opinion, as well as targeting advice to companies creating e-commerce sites.
The Poynter Institute has licensed Portal-in-a-Box for their portal aimed at journalists and teachers of journalism. Autonomy's technology will automate the organization and delivery of large volumes of original research as well as targeting commercial products such as books and seminars. In a similar market, SpeakOut.Com has purchased Autonomy's technology to power their community site. Autonomy will automatically organize news and business information which will be delivered to users to stimulate debate, comment and communication with government, political and business leaders on current issues and news events.
A large contract has been signed with an organization who will be launching Europe's first pan-European student portal. To be launched in early 2000, Autonomy's technology provides the infrastructure for the automated management of large amounts of lifestyle, entertainment, sport and music content in all major European languages. Autonomy will also power the e-commerce efforts of the site, integrating product and content in a seamless and completely automatic way.
E-Commerce Successes
Although these products were only launched in June 1999, Autonomy's technology has been embraced by the e-commerce industry. Significant revenues were achieved in the burgeoning e-commerce market with the largest OEM e-commerce deal in the US, as well as an OEM e-commerce deal in Europe. Additionally, two major direct contracts with e-commerce sites in the US and Scandinavia were signed.
Our largest e-commerce OEM contract, valued in excess of $1 million, was signed in the US with a soon-to-be launched home-shopping site. Specific details about the customer will be available nearer to its re-launch.
A European OEM e-commerce deal was also signed with Mediaworks, to integrate Autonomy's technology within their e-commerce product which is aimed at the travel industry. Due to be launched in January 2000, Autonomy's technology will provide the complete infrastructure for the automatic aggregation of product information from multiple travel sources, as well as providing personalised holiday suggestions and travel offers.
A direct e-commerce contract in the US was concluded with the Holiday Channel. Autonomy's technology will provide the foundation for their e-commerce infrastructure as well as also powering their Santa.com site, a personalised seasonal shopping service.
Autonomy's technology will also provide the infrastructure for Online Club, one of Scandinavia's most advanced consumer shopping service, due to be launched in January 2000. Autonomy will enable the provision of a "personal shopping assistant" for each user, this will be used to deliver personalised information about goods, services and promotions, based on a profile automatically generated from their interests and previous buying habits. The personal shopping assistant will help both vendors and advertisers to target their products to the consumers most interested in receiving them.
Knowledge Management Wins
PricewaterhouseCoopers (PwC) has been recruited as a strategic partner focused on implementing Autonomy's knowledge management software internally, as well as into their client base. Using Autonomy technology, PwC will develop and launch TelecomDirect, the first in a series of customer-facing vertical portals, to be launched over the coming months. The portal focuses exclusively on telecommunications content of two types: content originated by PwC and content gathered from over 75 selected Web sites. Autonomy software is used to gather the content from the Web and organize it into categories. It is also used to provide a natural language search capability for both types of content and to recommend related content for all articles, regardless of their source. The next vertical sites to be developed will focus on Entertainment and Media.
Frito-Lay, part of PepsiCo, and one of the world's largest snack food companies has licensed Autonomy's corporate portal product to effect knowledge sharing and collaboration across its manufacturing division. Siemens have also embarked upon a pilot portal project across three of its divisions using Portal-in-a-Box.
Ogilvy Public Relations Worldwide, one of the world's largest public relations organizations, has created an external portal, powered by Autonomy, to help them track real-time breaking industry news. This will be offered as a service to their clients to enable their campaigns to stay ahead of the latest competitive developments. Ogilvy's clients include: Ford Motor Company, IBM and MasterCard International.
Addleshaw Booth & Co., elected Law Firm of the Year by The Lawyer magazine, has also bought Autonomy's technology to help it manage vast quantities of case information and legal precedent data. Addleshaw Booth will also be using Autonomy's Portal-in-a-Box to target legal and commercial news to their clients via an external portal. Their clients include British Aerospace, Reckitt and Coleman, Ciba and Servisair.
Increasing OEM Success
Autonomy's technology has been available to OEMs since June 1999, and we have been delighted by both the level of interest shown and the rate at which contracts have been signed. Autonomy's OEM licensing continues to drive its technology into new markets. As well as our new e-commerce OEMs, this quarter we have concluded additional agreements in the following markets: corporate portals, Internet access, e-business and electronic records management. This continued success follows previous agreements in: call-centre automation, customer relationship management, document management, email routing and web publishing. Relationships with OEMs are an important element in ensuring fast and broad geographic penetration of Autonomy's technology. Autonomy built OEM relationships with the following in Q3 1999:
- Corechange Inc, a leading corporate portal supplier who licensed Autonomy's core technology to help companies add automated information categorisation and personalization capabilities to its Coreport role-based portal.
- SageMaker Inc., another provider of Enterprise Information Portals (EIP) who also purchased Autonomy's core technology to provide its customers with a comprehensive solution for handling vast amounts of unstructured information within its SageWave enterprise portal solution. SageMaker will use Autonomy's core technology within the SageWave EIP to automate the categorisation, hypertext linking and personalization of content for its customers in the oil & gas, power & utilities, chemicals, telecommunications, financial, pharmaceuticals, and insurance industries.
- Hyperwave Information Management Inc.. who will embed Autonomy's technology within its Hyperwave Information Portal (HIP), a new corporate portal designed to be the central workspace of the enterprise.
- Easdaq-quoted JSB Software Technologies plc who licensed Autonomy's technology to power its surfCONTROL Internet access control software. By using Autonomy's technology, surfCONTROL will enhance its ability to automatically analyse the content and meaning of any Web page and determine whether its subject matter is acceptable, according to corporate policy guidelines.
- Delano Technology Corp. who turned to Autonomy to provide an automated solution for their e-business solutions for the enterprise. Delano will embed Autonomy's core technology into the company's e-Business Interaction Suite, a platform that enables companies to develop their own personalised applications for e-business and enterprise communications.
- Provenance Systems Inc. will embed Autonomy's core technology in their electronic records management software solution - ForeMost - aimed at defense, government and corporate clients. The use of Autonomy's technology will enable ForeMost to automatically analyse and categorise any piece of information based upon its content and to help ensure that information is destroyed at the appropriate time, according to proper legislative and legal requirements.
Strategic Alliance With ORACLE
Autonomy and Oracle Corporation have entered into a strategic partnership around Oracle's web portal initiative. As one of only a handful of vendors invited to participate, Autonomy is Oracle's recommended partner for the management of unstructured information within their Portal Framework. Available early next year, the Portal Framework will provide a integration environment for all corporate information sources and a toolkit for Oracle application developers. The Oracle Portal Framework will take advantage of Autonomy's automatic categorisation, hyperlinking and advanced natural language concept-based search. The partnership will also provide direct access to Oracle's sales forces as well as providing extensive joint marketing and channel development activities in support of the initiative.
"The fact that corporate information is now largely unstructured has dictated that technology must now handle both structured and unstructured forms. The combination of Oracle's structured portal capabilities and Autonomy's ability to automatically process vast amounts of internal and external unstructured information will result in a very powerful enterprise solution," said Dr. Mike Lynch, CEO of Autonomy
Operations
European Expansion
We capitalised on an opportunity to obtain an existing pan-European sales network, which had previously been working in our markets. Without having to go through an acquisition, we were able to recruit 11 new sales and technical specialists across Frankfurt, Milan, Brussels and Amsterdam, all of whom were able to join and become productive immediately. This new network, branded Autonomy Europe, will operate under the management of Autonomy's Head of European Sales, Roberto Solimene.
The establishment of Autonomy Europe accelerates the company's European expansion - a process that started earlier this year with the opening of French headquarters in Paris and an acquisition in Oslo, as well as the signature of strategic alliances in Germany, Spain, France, Italy and Switzerland.
The 11 new hires come from strong commercial and technical backgrounds in Knowledge Management, E-commerce and New Media technology. The German operations will be headed up by Dirk Zetzsche who has extensive experience of enterprise software, having previously worked with Siemens and Rank Xerox. The Benelux operations will be headed up Eric Rousseau who joins from Excalibur Technologies NV and IBM. The Italian offices will be run by Corrado Broli, who also joins from Excalibur Technologies NV.
US Expansion
The US management has been strengthened through the hiring of two key new employees. David Appelbaum, 36, has joined as General Manager of the company's operations in North America. David Appelbaum will report to Autonomy CEO Mike Lynch and oversee the company's marketing, sales, channel development and customer service efforts in North America.
David has more than 14 years of experience in the software industry, having most recently served as vice president of product marketing and product management at Informix Software. Prior to joining Informix, he was vice president for Oracle's NT Solutions, where he led a $600-million marketing and consulting organization.
Dana Jezisek also joins as Director of Strategic Alliances. Dana is responsible for alliances marketing, Autonomy's Advantage Programme and the recruitment and management of systems integrators and VARs in North America. Dana joins from Documentum where she spent over four years managing their Strategic Alliances Group. Prior to Documentum, Dana held channel marketing positions with Openvision, Ingres, Sybase and Xerox.
The client services and product development operations have also been strengthened with the recruitment of eight new hires, predominantly to support channel and integration partners.
Industry Recognition
Autonomy's Knowledge Server was awarded the prestigious 1999 Crossroads 2000 A-List Award in the US. Sponsored by Open Systems Advisors, Inc., the Crossroads A-List Awards identify the best products and services that meet today's critical business challenges in enterprise solutions.
According to Nina G. Lytton, President of Open Systems Advisors, Inc. and editor of the Crossroads A-List Awards, companies are now realising that building and maintaining a knowledge management system can be a cumbersome, labour-intensive process and that existing keyword-based solutions are not accurate enough to aid in the process. "We found that customers turn to Autonomy because only Autonomy's technology can automatically identify and rank the main concepts within any document, email message, or news article," said Lytton.
Autonomy has also once again won the Information Management Awards, the European prize for IT innovation, repeating last year's success. The Awards are widely publicised in the IT and business press, and the event is one of the largest in the IT calendar. Autonomy's technology faced competition from leading companies such as NewsEdge, Lotus, Dun and Bradstreet and Tower Technology. The formal presentation ceremony will take place on November 30 at London's Park Lane Hilton.
Future Prospects
The fourth quarter has started well and we are continuing to experience excellent growth in our core markets. We continue to experience a strong demand for our technology to be embedded within the products of other software developers, which helps sustain future growth and enables the company to aggressively build awareness in multiple markets. We also believe there are excellent opportunities for growth for our new European sales network to exploit the language independence of the technology and increase our penetration across continental Europe.
We are looking forward to continuing our work in building the business and reinforcing our leadership position.
Autonomy's Annual Report is available. Please contact Autonomy on +44 1223 421220.
Except for historical information contained herein, the matters discussed in this news release may be considered forward-looking statements that may involve risks and uncertainties. Factors which may affect the Company's operating results are detailed in the Company's Prospectus, relating to the admission to trading of Autonomy's ordinary shares on EASDAQ, published on 10 July 1998. These documents identify important factors that could cause actual events or results to differ materially from those contained in any forward-looking statements.
Autonomy Corporation plc
Consolidated profit and loss account
| 3 months | 3 months | 9 months | 9 months | 12 months | |
| ended | ended | ended | ended | ended | |
| 30/9/99 | 30/9/98 | 30/9/99 | 30/9/98 | 31/12/98 | |
| Unaudited | Unaudited | Unaudited | Unaudited | Audited | |
| £ | £ | £ | £ | £ | |
| Turnover | 4,702,147 | 1,714,484 | 10,925,450 | 3,510,617 | 5,303,857 |
| Cost of sales | (709,960) | (190,244) | (1,415,482) | (527,303) | (823,190) |
| Gross profit | 3,992,187 | 1,524,240 | 9,509,968 | 2,983,314 | 4,480,667 |
| Other operating expenses (net) | (4,244,173) | (1,462,713) | (10,666,601) | (3,789,156) | (6,489,380) |
| Operating loss/profit | (251,986) | 61,527 | (1,156,633) | (805,842) | (2,008,713) |
| Net interest and foreign exchange | (328,900) | (490,688) | 722,435 | (440,108) | 264,986 |
| Loss on ordinary activities before taxation | (580,886) | (429,161) | (434,198) | (1,245,950) | (1,743,727) |
| Tax on loss on ordinary activities | (75,000) | - | (75,000) | - | - |
| Loss on ordinary activities after taxation | (655,886) | (429,161) | (509,198) | (1,245,950) | (1,743,727) |
| Minority interests | (52,311) | - | (74,586) | - | - |
| Loss for the financial period | (708,197) | (429,161) | (583,784) | (1,245,950) | (1,743,727) |
Loss per share
|
(1.75)p | (1.10)p | (1.45)p | (3.79)p | (5.02)p |
Autonomy Corporation plc
Consolidated balance sheet
| As at | As at | As at | |||
| 30/9/99 | 30/9/98 | 31/12/98 | |||
| Unaudited | Unaudited | Audited | |||
| £ | £ | £ | |||
| Fixed assets | |||||
| Goodwill | 295,845 | - | - | ||
| Intangibles | 1,775,720 | 2,529,541 | 2,301,831 | ||
| Tangibles | 458,944 | 132,485 | 175,864 | ||
| Investments | 242,881 | - | 90,155 | ||
| 2,773,390 | 2,662,026 | 2,567,850 | |||
| Current assets | |||||
| Debtors | 10,065,195 | 3,756,919 | 4,359,326 | ||
| Cash and deposits | 12,890,768 | 17,562,734 | 16,798,908 | ||
| 22,955,963 | 21,319,653 | 21,158,234 | |||
| Creditors: Amounts falling due within one year | (3,916,545) | (1,304,342) | (1,699,676) | ||
| Net current assets | 19,039,418 | 20,015,311 | 19,458,558 | ||
| Net assets | 21,812,808 | 22,677,337 | 22,026,408 | ||
| Capital and reserves | |||||
| Share capital | 405,085 | 402,218 | 402,230 | ||
| Share premium | 27,922,969 | 27,730,238 | 27,677,048 | ||
| Profit and loss | (6,652,608) | (5,455,119) | (6,052,870) | ||
| Equity shareholders' funds | 21,675,446 | 22,677,337 | 22,026,408 | ||
| Minority interests | 137,362 | - | - | ||
| Total capital employed | 21,812,808 | 22,677,337 | 22,026,408 |
Autonomy Corporation plc
Consolidated cash flow statement
| 3 months | 3 months | 9 months | 9 months | 12 months | ||||
| Ended | ended | ended | ended | ended | ||||
| 30/9/99 | 30/9/98 | 30/9/99 | 30/9/98 | 31/12/98 | ||||
| Unaudited | Unaudited | Unaudited | Unaudited | Audited | ||||
| £ | £ | £ | £ | £ | ||||
| Net cash outflow from operating activities | (2,300,232) | (1,064,459) | (4,198,234) | (2,737,474) | (3,983,966) | |||
| Returns on investments and servicing of finance | ||||||||
| Interest received | 161,341 | 197,241 | 484,714 | 247,821 | 485,090 | |||
| Interest paid | (1,381) | (307) | (3,447) | (307) | (1,924) | |||
| Net cash inflow from returns on investments and servicing of finance | 159,960 | 196,934 | 481,267 | 247,514 | 483,166 | |||
| Capital expenditure and financial investment | ||||||||
| Purchase of intangible fixed assets | - | (2,732,203) | (167,737) | (2,732,203) | (2,732,203) | |||
| Purchase of tangible fixed assets | (83,536) | (51,648) | (400,933) | (84,343) | (159,039) | |||
| Purchase of investments | (147,721) | - | (147,721) | - | (90,155) | |||
| Sale of tangible fixed assets | - | - | - | - | 7,657 | |||
| Purchase of subsidiary undertaking | - | - | (42,702) | - | - | |||
| Net cash outflow from investing activities | (231,257) | (2,783,851) | (759,093) | (2,816,546) | (2,973,740) | |||
| Net cash outflow before use of liquid resources | (2,371,529) | (3,651,376) | (4,476,060) | (5,306,506) | (6,474,540) | |||
| Management of liquid resources | ||||||||
| Cash withdrawn from (placed on) short term deposits | 1,874,358 | (17,072,964) | 4,008,216 | (17,722,964) | (15,920,740) | |||
| Financing | ||||||||
| Issue of ordinary share capital | 40,408 | 20,926,703 | 248,776 | 20,926,703 | 20,873,525 | |||
| (Decrease)/increase in cash for the period | (456,763) | 202,363 | (219,068) | (2,102,767) | (1,521,755) |
Autonomy Corporation plc
Reconciliation of operating loss to net cash outflow from operating activities
| 3 months ended | 3 months ended | 9 months ended | 9 months ended | 12 months ended | |
| 30/9/99 | 30/9/98 | 30/9/99 | 30/9/98 | 31/12/98 | |
| Unaudited | Umaudited | Unaudited | Unaudited | Audited | |
| £ | £ | £ | £ | £ | |
| Operating loss/profit | (251,986) | 61,527 | (1,156,632) | (805,842) | (2,008,713) |
| Depreciation Charge | 47,173 | 216,824 | 120,876 | 239,599 | 61,875 |
| Amortisation Charge | 227,455 | - | 716,605 | - | 430,372 |
| Gain on sale of fixed assets | - | - | - | - | (841) |
| Notional charge for share options granted at less than fair value | - | 15,947 | - | 47,323 | 29,308 |
| Increase in debtors | (2,620,948) | (1,687,660) | (5,563,456) | (2,813,566) | (3,417,740) |
| Increase in creditors | 298,073 | 328,901 | 1,684,373 | 595,012 | 921,773 |
| Net cash outflow from operating activities | (2,300,232) | (1,064,459) | (4,198,234) | (2,737,474) | (3,983,966) |
Autonomy Corporation plc
Notes to the financial information
Basis of preparation
The consolidated interim financial information has been prepared in accordance with the policies set out in the financial statements for the year ended 31 December 1998.
The consolidated financial information relating to the year ended 31 December 1998 does not constitute Statutory Accounts as defined in section 240 of the Companies Act 1985, but is an extract from the latest Statutory Accounts which have been delivered to the Registrar of Companies. The audit opinions on these accounts were unqualified.
The results for the three month and nine month periods ended 30 September 1999 and 30 September 1998 have not been audited.
Segmental information
| 3 months | 3 months | 9 months | 9 months | 12 months | |
| ended | ended | ended | ended | ended | |
| 30/9/99 | 30/09/98 | 30/09/99 | 30/09/98 | 31/12/98 | |
| £ | £ | £ | £ | £ | |
| Turnover by product and by country of origin: | |||||
| UK turnover | |||||
| Knowledge management products | 834,427 | 688,737 | 1,810,920 | 1,260,183 | 1,880,462 |
| New media content publishing products | 1,072,605 | 262,582 | 3,808,866 | 1,066,133 | 1,725,763 |
| E-commerce products | 10,000 | - | 356,494 | - | - |
| Desktop products and other | - | 7,123 | - | 22,043 | 37,095 |
| Total UK turnover | 1,917,032 | 958,442 | 5,976,280 | 2,348,359 | 3,643,320 |
| US turnover | |||||
| Knowledge management products | 1,180,541 | 112,742 | 2,092,507 | 153,392 | 353,170 |
| New media content publishing products | 613,732 | 642,795 | 1,659,599 | 1,004,539 | 1,302,997 |
| E-commerce products | 616,309 | - | 616,309 | - | - |
| Desktop products and other | - | 506 | 70 | 4,328 | 4,370 |
| Total US turnover | 2,410,583 | 756,043 | 4,368,485 | 1,162,259 | 1,660,537 |
| Norwegian turnover | |||||
| Knowledge management products | 183,301 | - | 220,666 | - | - |
| New media content publishing products | 87,864 | - | 256,652 | - | - |
| E-commerce products | 103,367 | - | 103,367 | - | - |
| Total Norwegian turnover | 374,532 | - | 580,685 | - | - |
| Consolidated turnover | 4,702,147 | 1,714,485 | 10,925,450 | 3,510,618 | 5,303,857 |
3. Loss per share
Loss per share is based on the following:
| 3 months | 3 months | 9 months | 9 months | 12 months | |
| ended | ended | ended | ended | ended | |
| 30/9/99 | 30/09/98 | 30/09/99 | 30/09/98 | 31/12/98 | |
| Unaudited | Unaudited | Unaudited | Unaudited | Audited | |
| £ | £ | £ | £ | £ | |
| Loss for the financial period: | (708,197) | (429,161) | (583,784) | (1,245,950) | (1,743,727) |
| Weighted average number of shares | 40,484,919 | 39,013,618 | 40,388,751 | 32,889,902 | 34,737,948 |
In accordance with Financial Reporting Standard No 14 "Earnings per share", no potential ordinary shares have been included in the calculation of fully diluted earnings per share for the 3 and 9 months ended 30 September 1999 and 1998 and the 12 months 31 December 1998 because they would not increase the net loss per share.
| For more information, please contact: |
|
Dr. Mike Lynch, Managing Director and CEO Dominic Johnson, Marketing Director Jonathan Spira, Chief Financial Officer AUTONOMY CORPORATION plc Tel: 0171 831 3113 (on 16/11/99) Tel: 01223 421220 (thereafter) Edward Bridges Springett FINANCIAL DYNAMICS Tel: 0171 831 3113 |
