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Integral Systems Declares 2006 as its Best Year Ever |
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LANHAM, Md., Dec. 14, 2006/Satnews Daily/ ― Integral Systems, Inc. (NASDAQ:ISYS) has announced that revenues for the fourth quarter 2006 reached $27.7 million, up from $27.1 million in the fourth quarter of fiscal 2005 or an increase of approximately 2 percent.
Integral said excluding a one-time, non-cash compensation charge related to the acceleration of stock option share vesting of approximately $1.2 million in fiscal 2005, operating income increased to $4.5 million for the current quarter, versus $3.5 million in the fourth quarter of fiscal 2005.
Net income increased to $3 million in the fourth quarter of fiscal 2006 compared to $2.2 million for the fourth quarter of fiscal year 2005 while earnings per share increased from $.20 per share to $.27 per share. Including the one-time compensation charge in the fourth quarter of 2005, net income increased by $1.8 million and earnings per share increased by $.16 per share for the fourth quarter of 2006.
For the fiscal year ended September 30, 2006, Integral said revenues increased to $116.5 million compared to $97.7 million last year. Operating income rose to $18.3 million from $11 million, while net income for fiscal year 2006 was $12.3 million, or $1.12 per share on a fully-diluted basis, compared to $7.3 million, or $0.69 per share, for fiscal year 2005 (exclusive of the one-time compensation charge).
Integral said fiscal year 2006 revenue, operating income, net income and earnings per share exceeded company annual historic records (all previously from fiscal year 2005, exclusive of the one-time compensation charge) by 19 percent, 66 percent, 69 percent and 62 percent, respectively.
Pete Gaffney, CEO, said the strong performance beat twice full year guidance that was upwardly revised. “All operating segments were profitable and our latest acquisition, Lumistar, continues to be accretive to our earnings, contributing over $2 million in operating income in fiscal year 2006,” Gaffney said.
For 2007, Integral said it is anticipating revenue, operating income, net income, and earnings per common share to increase by 13 percent, 6 percent, 10 percent and 9 percent, respectively.
Gaffney added that even with the recent delays, the company is projecting 15 percent growth in their Air Force business and is still pursuing several additional large opportunities with the Air Force. “Our subsidiaries continue to be very profitable with expected increases from Lumistar, Newpoint, and SAT in fiscal year 2007,” Gaffney stated.
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