SOURCE: Enterprise Informatics, Inc.

January 02, 2008 16:00 ET

Enterprise Informatics Announces 4th Quarter and 2007 Year End Results

2007 Highlights: Revenue Up 28% vs. 2006; EBITDA $1.8 million vs. 2006 Loss

SAN DIEGO, CA--(Marketwire - January 2, 2008) - Enterprise Informatics, Inc. (OTCBB: EPRS), a leading provider of enterprise information management solutions, today reported results of operations for its fourth quarter and fiscal year ended September 30, 2007.

Revenues for the fourth quarter of FY2007 were $1.7 million versus $1.6 million in the same period a year ago. Earnings before interest, taxes, depreciation, amortization and stock compensation expense ("EBITDA") for the fourth quarter of FY2007 was a loss of ($25,000), or ($0.00) per share. These results compare to an EBITDA loss of ($160,000) or ($0.00) per share for the same quarter a year ago.

Net loss available to common shareholders for the fourth quarter was ($217,000) or ($0.01) on a basic and diluted basis versus a net loss of ($370,000) or ($0.01) per share in the prior year.

Revenues for FY2007 were $9.0 million versus $7.0 million reported a year ago. EBITDA for FY2007 was $1,808,000, or $0.05 and $0.04 per share on a basic and diluted basis, respectively. These results compare to an EBITDA loss of ($415,000) or ($0.01) per share reported a year ago.

Net income available to common shareholders for FY2007 was $1.0 million or $0.03 and $0.02 per share on a basic and diluted basis, respectively, versus a net loss of ($2,376,000) or ($0.06) per share in the prior year.

"2007 was a year of significant accomplishments for the company. Of note, we had positive net earnings for the first time in over 10 years, we re-branded and re-launched the Company as Enterprise Informatics positioning ourselves as a significant player in the Enterprise Information Management (EIM) market and we obtained Microsoft Windows Vista certification for our flagship product, eB," stated Alan Kiraly, Chief Executive Officer. "We enter 2008 with a new majority shareholder, a renewed focus and excitement about the immediate and long term future of the Company."

About Enterprise Informatics

Enterprise Informatics is a leading provider of enterprise information management solutions that enable organizations to reduce the cost of meeting compliance requirements, minimize business risk and optimize process efficiency. Enterprise Informatics' advanced software product, eB, ensures the integrity of the controlled information by uniquely managing the connectivity to all relevant information such as documents, records, assets, people, processes and projects -- creating an ecosystem for the rapid access of accurate information in context. eB vastly improves the integrity, visibility and access to all relevant information at the time it is needed.

Key customers include Entergy, NuStart Energy, Constellation Energy, Florida Power & Light, Continental Express, Ameren UE, City of Dayton, Lloyds Register of Shipping, Northeast Utilities, Network Rail, Aker Kvaerner, City of Las Vegas, City of Winston-Salem, Fayetteville Public Works Commission and many others. www.enterpriseinformatics.com

Except for historical information contained herein, the matters set forth in this release include forward-looking statements that are dependent on certain risks and uncertainties, including such factors, among others, as market acceptance, market demand, pricing, changing regulatory environment, the effect of the company's accounting policies, potential seasonality and other risk factors detailed in the Company's SEC filings.

ENTERPRISE INFORMATICS INC.
Consolidated Statements of Operations
(Unaudited)

                       For the three months            For the year
                        ended September 30,         ended September 30,
                    --------------------------  --------------------------
                        2007          2006          2007          2006
                    ------------  ------------  ------------  ------------
                     (Unaudited)   (Unaudited)   (Unaudited)
Revenues:
  Licenses          $    309,000  $    304,000  $  3,107,000  $  1,775,000
  Services and
   other               1,393,000     1,277,000     5,867,000     5,231,000
                    ------------  ------------  ------------  ------------
Total revenues         1,702,000     1,581,000     8,974,000     7,006,000
                    ------------  ------------  ------------  ------------

Cost of revenues:
  Licenses                42,000        52,000       169,000       324,000
  Services and
   other                 608,000       567,000     2,477,000     2,370,000
                    ------------  ------------  ------------  ------------
Total cost of
 revenues                650,000       619,000     2,646,000     2,694,000
                    ------------  ------------  ------------  ------------

Gross profit           1,052,000       962,000     6,328,000     4,312,000
                    ------------  ------------  ------------  ------------

Operating expenses:
  Research and
   development           332,000       284,000     1,152,000     1,058,000
  Marketing and sales    465,000       519,000     1,936,000     2,410,000
  General and
   administrative        354,000       387,000     1,719,000     1,622,000
                    ------------  ------------  ------------  ------------
Total operating
 expenses              1,151,000     1,190,000     4,807,000     5,090,000
                    ------------  ------------  ------------  ------------

Income (loss) from
 operations              (99,000)     (228,000)    1,521,000      (778,000)

Interest and other
 income                    2,000             -         2,000         4,000
Interest and other
 expense                 (79,000)      (71,000)     (261,000)     (248,000)
                    ------------  ------------  ------------  ------------
Net income (loss)       (176,000)     (299,000)    1,262,000    (1,022,000)

Provision for
 income taxes             25,000             -             -             -
                    ------------  ------------  ------------  ------------

Net income (loss)       (151,000)     (299,000)    1,262,000    (1,022,000)

Deemed preferred
 dividend                      -             -             -    (1,000,000)
                    ------------  ------------  ------------  ------------
Net income (loss)
 available after
 deemed preferred
 dividend               (151,000)     (299,000)    1,262,000    (2,022,000)

Cumulative
 preferred
 dividends               (66,000)      (71,000)     (264,000)     (354,000)
                    ------------  ------------  ------------  ------------
Net income (loss)
 available to
 common
 shareholders       $   (217,000) $   (370,000) $    998,000  $ (2,376,000)
                    ============  ============  ============  ============

Earnings (loss) per
 share:
   Basic            $      (0.01) $      (0.01) $       0.03  $      (0.06)
                    ============  ============  ============  ============

   Diluted          $      (0.01) $      (0.01) $       0.02  $      (0.06)
                    ============  ============  ============  ============

Weighted average
 shares
 outstanding:
   Basic              37,504,000    36,895,000    37,324,000    36,876,000
                    ============  ============  ============  ============

   Diluted            37,504,000    36,895,000    49,841,000    36,876,000
                    ============  ============  ============  ============





ENTERPRISE INFORMATICS INC.
Consolidated Balance Sheets

                                              September 30,  September 30,
                                                  2007           2006
                                              -------------  -------------
                                               (Unaudited)
ASSETS
  Current assets:

    Cash                                      $     553,000  $      95,000
    Receivables, net                                746,000        854,000
    Other current assets                            204,000        190,000
                                              -------------  -------------
      Total current assets                        1,503,000      1,139,000

Property and equipment, net                         211,000        131,000
Computer software, net                              321,000        425,000
Other assets                                         27,000         28,000
                                              -------------  -------------
      Total assets                            $   2,062,000  $   1,723,000
                                              =============  =============

LIABILITIES AND SHAREHOLDERS' DEFICIT

Total liabilities                             $   6,410,000  $   9,601,000

Total shareholders' deficit                      (4,348,000)    (7,878,000)
                                              -------------  -------------

         Total liabilities and
          shareholders' deficit               $   2,062,000  $   1,723,000
                                              =============  =============




EBITDA Calculation
(Unaudited)



                        For the three months         For the year
                        ended September 30,       ended September 30,
                      ------------------------  --------------------------
                          2007         2006         2007           2006
                      -----------  -----------  -------------- -----------

Income (loss) from
 operations           $   (99,000) $  (228,000) $    1,521,000 $  (778,000)
Add back:
    Depreciation and
     amortization          43,000       49,000         173,000     167,000
    FAS 123R stock
     compensation
     expense               31,000       19,000         114,000     196,000
                      -----------  -----------  -------------- -----------

EBITDA excluding FAS
 123R stock
 compensation expense $   (25,000) $  (160,000) $    1,808,000 $  (415,000)

                      ===========  ===========  ============== ===========

EBITDA per common
 share

   Basic              $      0.00  $      0.00  $         0.05 $     (0.01)
                      ===========  ===========  ============== ===========
   Diluted            $      0.00  $      0.00  $         0.04 $     (0.01)
                      ===========  ===========  ============== ===========

Shares used in
 computing EBITDA
 per common share

   Basic               37,504,000   36,895,000      37,324,000  36,876,000
                      ===========  ===========  ============== ===========
   Diluted             37,504,000   36,895,000      49,841,000  36,876,000
                      ===========  ===========  ============== ===========

Contact Information

  • COMPANY CONTACT:
    Alan Kiraly
    CEO
    John Low
    CFO
    (858) 625-3000