BEA annuncia i risultati del quarto trimestre e dell’anno fiscale. Nel corso del trimestre AquaLogic ha incrementato del 27% il fatturato da licenze,
guidato dall’adozione dell’architettura SOA

BEA registra un cash flow operativo di 367 milioni di dollari per l’anno fiscale 2008

Milano, 3 marzo 2008 – BEA Systems, Inc. (NASDAQ: BEAS), leader mondiale nel software di infrastruttura applicativa, ha rilasciato i risultati finanziari per il quarto trimestre e l’anno fiscale, terminato il 31 gennaio 2008. Nel quarto trimestre, BEA ha riportato un fatturato di 440,9 milioni di dollari, con una crescita del 13% rispetto al quarto trimestre dello scorso anno. BEA ha registrato un fatturato da licenze di 179,5 milioni di dollari, con un aumento del 6% rispetto all’anno scorso e un fatturato da servizi di 261,4 milioni di dollari, in crescita del 17% rispetto all’anno precedente. BEA ha generato un cash flow operativo pari a 123 milioni di dollari, rispetto ai 3,4 milioni di dollari del 2007.

Nel quarto trimestre BEA ha riportato un utile operativo su base GAAP (Generally Accepted Accounting Principles) di 87,7 milioni di dollari, rispetto alla flessione pari a 148,3 milioni di dollari dell’anno precedente. L’utile netto su base GAAP, riportato da BEA, è pari a 75,7 milioni di dollari, rispetto alla flessione pari a 99,7 milioni di dollari dello scorso anno, mentre l’utile netto diluito per azione su base GAAP è stato di 0,18 dollari, rispetto ai 0,25 dollari del 2007.

In questo trimestre, BEA ha registrato un utile operativo non-GAAP pari a 119,3 milioni di dollari e un margine operativo del 27,1%, rispetto a 92,5 milioni di dollari e al 23,6% dello scorso anno. BEA ha riportato un utile netto non-GAAP pari a 97,8 milioni di dollari, in crescita rispetto ai 67,5 milioni di dollari del 2007, mentre l’utile netto diluito per azione su base non-GAAP è stato di 0,23 dollari, rispetto a 0,16 dollari dell’anno scorso.

Nell’anno fiscale, terminato il 31 gennaio 2008, BEA ha riportato un fatturato di 1.535,8 milioni di dollari, con una crescita del 10% rispetto all’anno fiscale conclusosi il 31 gennaio 2007. BEA ha, inoltre, registrato un fatturato da licenze di 552 milioni di dollari, con una flessione del 4% rispetto al 2007 e un fatturato da servizi pari a 983,8 milioni di dollari, in crescita del 19% rispetto all’anno precedente. Nell’anno fiscale 2008, BEA ha registrato un utile operativo su base GAAP pari a 231,3 milioni di dollari, un utile netto di 208,2 milioni di dollari ed un utile netto diluito per azione pari a 0,5 dollari, rispetto alla flessione dell’utile operativo di 33,6 milioni di dollari, dell’utile netto di 4,5 milioni di dollari e dell’utile netto diluito per azione di 0,01 dollari dell’anno fiscale 2007. Nell’anno fiscale 2008 BEA ha riportato un utile operativo non-GAAP di 351,9 milioni di dollari, un margine operativo del 22,9%, un utile netto di 293,1 milioni di dollari ed un utile netto diluito per azione pari a 0,7 dollari, rispetto all’utile operativo di 293,3 milioni di dollari, al margine operativo del 20,9%, all’utile netto di 223,6 milioni di dollari e all’utile netto diluito per azione di 0,55 dollari rispetto dell’anno fiscale precedente. Nel 2008, BEA ha registrato un cash flow operativo di 366,9 milioni di dollari, rispetto ai 204,4 milioni di dollari del 2007. BEA ha registrato un bilancio di cassa, cash equivalent, investimenti a breve termine e cash restricted pari a 1,5 miliardi di dollari. Inoltre, BEA ha riportato un fatturato differito pari a 477 milioni di dollari, con una crescita del 6% rispetto allo scorso anno.

“Nel quarto trimestre, BEA ha riportato le migliori performance da licenze”, ha dichiarato Alfred Chuang, chairman and Chief Executive Officer di BEA Systems. “Il nostro team continua ad essere attento alle esigenze dei nostri clienti e sono soddisfatto dal loro lavoro e dai risultati ottenuti”.

“I clienti, tra cui numerose società multinazionali, hanno continuato ad implementare la tecnologia BEA come base per l’architettura SOA. I nostri clienti hanno scelto i prodotti BEA per potenziare le soluzioni business più richieste e innovative. Le aziende usano la SOA per trasformare il proprio business, i prodotti e l’esperienza BEA li aiutano a raggiungere con successo i propri obiettivi”, ha continuato Chuang. “Nel quarto trimestre, la governance e l’integrazione SOA si sono confermate ancora i driver fondamentali, così sia i nuovi clienti che quelli già consolidati hanno continuato ad implementare la vision SOA di BEA”.

L’acquisizione di Oracle

Come è stato anticipato, il 27 febbraio 2008 il Department of Justice and Federal Trade Commission ha acconsentito a concludere prima del periodo la review Hart-Scott-Rodino (“HSR”) per l’acquisizione di BEA, proposta da Oracle Corporation. Inoltre, come già annunciato, BEA ha fissato un incontro speciale degli azionisti, che si terrà il 4 aprile 2008 alle ore 10:00 (Pacific time), per valutare e votare l’acquisizione proposta. La transazione richiede l’approvazione degli azionisti, l’autorizzazione normativa della Commissione Europea ed è soggetta ad altre condizioni.

Clienti e partner

I principali accordi con clienti, partner e utenti finali nel trimestre riguardano Activos Para Telecomunicacion, Alberta Energy and Utilities Board, Alcatel Lucent Bell, ALTEC, American Chemical Society, AT&T, Bank Zachodni, Cajamar, CashEdge, Chicago Mercantile Exchange, China Mobile SiChuan, Cigna, Cingular Wireless, City of Edmonton, Dell, Comagas, Deutscher Wetterdienst, eHarmony, Fastweb, France Telecom, ICMA Retirement Corporation, Hanaro Telecom, Italtel, Kookmin Bank, La Caixa, Level 3 Communications, Michael Page International, MOLSS JingZhou, MOLSS GuangZhou, NET Servicos de Comunicacao, Pearson Education, Pegaso PCS sa De Cv/Tegularizacion Licencias, Petroleo Brasileiro, PFA Pension, Philips Lifeline, Research in Motion, Screwfix, Sempra Energy, Sensis, Telecom Italia, Telecom Personal de Argentina, Telefonica Moviles Argentina, Telefonica Moviles Espana, TIAA-CREF, United Airlines, Vertex Pharmaceuticals  e Vivo.

Sono stati chiusi nuovi accordi o estensioni di contratti già esistenti con VAR, hardware OEM, system integrator, ASP e ISV, tra cui Airvana, Allegient Systems, Amdocs, CashEdge, Intec Billing, Magirus, Motive, Neptune Software, Research in Motion, SAS, Securus Technology, Sorenson Media Sterling e Wisor.

GAAP to Non-GAAP Reconciliation

This release includes non-GAAP operating income, non-GAAP net income and non-GAAP diluted net income per share data.  These non-GAAP measures are not in accordance with, or an alternative to, generally accepted accounting principles (“GAAP”) and may be different from non-GAAP measures used by other companies.  In addition, these non-GAAP measures are not based on any comprehensive set of accounting rules or principles.  Non-GAAP measures have limitations in that they do not reflect all of the items associated with BEA’s results of operations as determined in accordance with GAAP and these measures should only be used to evaluate BEA’s results of operations in conjunction with the corresponding GAAP measures.

Non-GAAP operating income consists of GAAP operating income excluding, as applicable, acquisition-related asset amortization, acquisition-related deferred compensation, acquisition-related in-process research and development, FAS123R expense, restructuring and separation charges (including facilities consolidations), stock option review expenses, 409A, stock option modifications, employee stock purchase plan bonus, land impairment charges, strategic advisor expenses and tender offer expenses.  Non-GAAP net income consists of non-GAAP operating income and excludes, as applicable, net gains on minority interests in equity investments and net gains on retirement of convertible subordinated notes.  Non-GAAP net income is adjusted by the amount of additional taxes or tax benefit that BEA would accrue if it used non-GAAP results instead of GAAP results to calculate BEA’s tax liability.  BEA may consider whether or not other items that arise in the future should also be adjusted from the non-GAAP financial measures reported.
Management believes it is useful in measuring BEA’s core continuing operations to exclude the following:

Acquisition-related intangible asset amortization, acquisition-related deferred compensation expense and acquisition-related in-process research and development expense because these costs are primarily fixed at the time of an acquisition and generally cannot be changed by management.

FAS123R expense because it enhances investors’ ability to review BEA’s business from the same perspective as BEA management, who believes that FAS123R expense is not directly attributable to the underlying performance of BEA’s core continuing operations since it is a non-cash charge. 

Land impairment charges because this cost was a one-time charge and not related to core operations.
Expenses associated with or as a result of our stock option review and restatement.  Stock option review expenses include third party expenses resulting from the review and restatement.   409A expenses associated with remedying current and former employees Internal Revenue Code 409A and equivalent state tax exposure.  The employee stock purchase plan bonus relates to payments made to certain employees who were unable to participate in the employee stock purchase plan due to the inability of the Company to issue shares during the stock option investigation.  Stock option modifications primarily due to the extension of stock option exercise periods for former employees and withholdings for income and employment taxes associated with “reclassified” and “modified” stock options from incentive stock options (ISO) to non-qualified stock options (NQSO).  Tender offer expenses relating to payments made to employees to compensate for re-pricing of options.  These expenses should be excluded because they resulted from non-core operations and were incurred primarily from the fourth quarter of fiscal 2007 through the fourth quarter of fiscal 2008. 

Strategic advisor expenses associated with shareholder activist activity, the Oracle acquisition offer and the related shareholder litigation.  These expenses should be excluded because they result from non-core operations. 

Management also believes it is useful to exclude gains on minority interest in equity investments and gains on retirement of convertible subordinated notes since these are not direct results from core continuing operations and, in the case of the minority interest in equity investments, are not under the control of BEA.  The foregoing items excluded from BEA’s non-GAAP operations are consistently excluded by BEA’s management for internal planning and forecasting purposes as well as employee compensation decisions.

BEA believes that presenting its non-GAAP measures of operating income, net income and diluted net income per share provides investors with an additional tool for evaluating the performance of BEA’s business, which management uses in its own evaluation of performance, and an additional base line for assessing the future earnings potential of BEA.  While GAAP results are more complete, BEA believes it is valuable to allow investors to have this supplemental measure, with reconciliation to GAAP, since it may provide additional insight into our financial results.

BEA Systems

BEA Systems, Inc. è leader mondiale nel software di infrastruttura enterprise. Informazioni relative a come trasformare la propria azienda in una Liquid Enterprise™ sono disponibili all’indirizzo bea.com.

Copyright 1995-2007, BEA Systems, Inc.  All rights reserved.  BEA, BEA AquaLogic, BEA eLink, BEA WebLogic, BEA WebLogic Portal, BEA WebLogic Server, Connectera, Compoze Software, Jolt, JoltBeans, JRockit,  SteelThread, Think Liquid, Top End, Tuxedo, and WebLogic are registered trademarks of BEA Systems, Inc. BEA Blended Application Development, BEA Blended Development Model, BEA Blended Strategy, BEA Builder, BEA Guardian, BEA Manager, BEA MessageQ, BEA microService Architecture,  BEA SOA 360°, BEA Workshop, BEA WorkSpace 360°, Signature Editor, Signature Engine, Signature Patterns, Support Patterns, Arch2Arch, Arch2Arch Advisor, Dev2Dev, Dev2Dev Dispatch, Exec2Exec, Exec2Exec Voice, IT2IT, IT2IT Insight, Business LiquidITy, and Liquid Thinker are trademarks of BEA Systems, Inc. BEA Mission Critical Support, BEA Mission Critical Support Continuum, BEA SOA Self Assessment, and Fluid Framework are service marks of BEA Systems, Inc. All other company and product names may be the subject of intellectual property rights reserved by third parties. All other trademarks are the property of their respective companies.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding customer adoption of BEA products, the proposed merger with Oracle Corporation, and BEA’s use of non-GAAP financial metrics and the value of such metrics in assessing BEA’s future earnings and financial results.  Forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those contemplated by the forward-looking statements.  Such risks and uncertainties include, but are not limited to, the risk that Nasdaq may de-list BEA’s common stock for failure to comply with any Nasdaq listing requirement; the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement; the outcome of any legal proceedings that me be instituted against BEA and others following announcement of the proposal or the merger agreement; the inability to complete the merger due to the failure to obtain stockholder approval; the inability to obtain necessary regulatory approvals required to complete the merger; the risk that the proposed transaction disrupts current plans and operations and the potential difficulties in employee retention as a result of the proposed merger; the ability to recognize the benefits of the merger or of any combination of BEA and Oracle; quarterly fluctuations in customer spending due to economic, geopolitical, competitive and other factors; dependence on the growth of the markets for BEA’s products, especially the markets for SOA, service infrastructure, VOIP and telecommunications software, and overseas markets such as China; changes in the standards or technologies used in the SOA, telecommunications and portal markets that could render our products less competitive; declines in spending by the telecommunications industry as a result of consolidation or adverse economic conditions; our dependence on large transactions, particularly those consummated at the end of our quarters; dependence on new product introductions and enhancements; the introduction by competitors of new products and pricing strategies; market acceptance of BEA’s enhanced product portfolio; BEA’s ability to integrate new technology and personnel as a result of acquisitions; the length of BEA’s sales cycle; the acceptance of BEA’s products by channel partners; the success of BEA’s channel partners; rapid technological change; potential software defects (particularly with regard to newly introduced and planned products); BEA’s ability to retain and hire key personnel; misinterpretations resulting from the provision of non-GAAP financial information.

These and other risks are set forth in the “Risk Factors,” “Legal Proceedings” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of and elsewhere in BEA’s Form 10-K for the fiscal year ended January 31, 2007 that was filed with the Securities and Exchange Commission on November 15, 2007.  Many of the factors that will determine the outcome of the subject matter of this release are beyond BEA’s ability to control or predict.  The forward-looking statements and risks stated in this press release are based on information available to BEA today.  BEA assumes no obligation to update them.

Important Additional Information Regarding the Proposed Merger

In connection with the proposed merger, on February 7, 2008, BEA filed a preliminary proxy statement with the Securities and Exchange Commission (the “SEC”).  Investors and security holders are advised to read the preliminary proxy statement and, when it becomes available, the definitive proxy statement, as well as any other relevant documents filed with the SEC when they become available, because they will contain important information about the merger and the parties to the merger.  Investors and security holders may obtain a free copy of the proxy statements and other documents filed by BEA at the SEC website at http://www.sec.gov.  The proxy statements and other documents filed by BEA with the SEC also may be obtained for free at BEA’s Internet website at www.bea.com/investors or by writing to BEA Systems, Inc., 2315 North First Street, San Jose CA 95131, Attn: Investor Relations Department.  In connection with the special meeting of BEA stockholders to approve the adoption of the merger agreement, BEA will mail copies of the definitive proxy statement to BEA stockholders who are entitled to attend and vote at the special meeting.

The information in the preliminary proxy statement is not complete and may be changed.  Before making any voting or investment decisions with respect to the proposed acquisition or any of the other matters with respect to which BEA’s stockholders will be asked to vote pursuant to the proxy statement, BEA’s stockholders are urged to read the definity proxy statement and other documents filed by BEA when they become available.

Per informazioni:

Paolo Furini                                         
Marketing Manager
BEA Systems Italy
Tel 02 33 27 30 00
paolo.furini@bea.com       
    
Angela De Tommaso
Silvia Pasero
Noesis Comunicazione
Tel 02 83 10 511
angela.detommaso@noesis.net
silvia.pasero@noesis.net