Caere Reports Quarterly, Year-End Results
Caere (Los Gatos, CA, Nasdaq: CAER) reports Q4 '97 revenue of $15.6 million, up 15% from Q4 '96. Net income of $2.2 million compares with a Q4 '96 net income of $2.0 million, minus one-time charges. For the year, Caere reports revenue of $55 million and a net income of $3.1 million, compared with fiscal 1996 figures of $54.5 million and $396,000, respectively. The one-time charges in 1996 stem from investments in ZyLAB (Rockville, MD), and in-process R&D from the acquisition of Recognita Rt. Gross margins increased from 69.% in 1996 to to 74%, funding a $2.3 million additional investment in R&D. During the quarter Caere signed bundling agreements with Umax (Fremont, CA) and Hewlett-Packard (HP, Greeley, CO) to include its OmniPage OCR application with Umax's and HP's scanners.