Robert P Peebler, president and chief executive officer of Landmark, says he is quite pleased with the record fourth quarter results of the company and the end result of Landmark's 1996 fiscal year. He believes that the company has now got some momentum for the future. 'We look forward to creating even more value for our customers as we expand the scope and range of Landmark's integrated information systems and professional services through our upcoming merger with Halliburton and alliance with EDS.'
What Peebler didn't say is that he's probably relieved at not being continually in the front line reporting to shareholders on earnings per share now that Landmark has the less exposed role of wholly owned subsidiary of its new master Halliburton Company. Landmark reported record revenue of $54 million for its fourth quarter of fiscal year 1996 with net earnings of $4.6 million or $0.26 per share. In 1995 revenue was $49.2 million for the fourth quarter with net earnings of $5.5 million or $0.3 million. Software revenue for the quarter was up from $24.2 million to $25.7 million while service rose 26% from $16.8 million to $21.2 million.
For the year end Landmark achieved record annual revenue of $187 million compared with $171.2 million in 1995. This was made up of software revenue of $83.6 million ($83.7 million in 1995) and a 34% upswing in services revenue from $55.6 million to $74.8 million. Excluding non-recurring charges, net income in fiscal year 1996 was $16.6 million or $0.93 per share compared to 1995 net income of $20.1 million or $1.15 per share. In the acquisition agreement announced in July, Halliburton Company will issue 0.574 of a share of it common stock for each outstanding share of Landmark common stock.
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