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Lotus Development Corp. Reports Record Revenue and Net Income for Fourth Quarter and Full Year 1993

Strategic Insights

— 1 min read

Lotus Development Corp. reported record revenue and net income for the fourth quarter and full year 1993, driven by strong sales of its Notes and cc:Mail products. The company's net income for the fourth quarter rose 103 percent to $29.6 million, or 64 cents per share, compared to $14.6 million, or 35 cents per share, in the same quarter of 1992. Revenue for the fourth quarter reached a record $278.3 million, a 13 percent increase over the same period in 1992. For the full year, Lotus reported net income of $75.4 million, or $1.69 per share, a 32 percent increase over 1992, and revenue of $981.2 million, a 9 percent increase over 1992.

Key Takeaways:

  • Net income for the fourth quarter of 1993 rose 103 percent to $29.6 million, or 64 cents per share.
  • Revenue for the fourth quarter reached a record $278.3 million, a 13 percent increase over the same period in 1992.
  • Lotus earned a record number of industry awards for its products in 1993.
  • The company announced a strategic agreement with IBM to market and sell SmartSuite for OS/2.
  • Lotus also announced a partnership with McCaw Cellular Communications to provide wireless computing solutions based on CDPD network technology.
  • The company established sales and marketing operations in mainland China.

Statistics:

  • Net income for the fourth quarter of 1993: $29.6 million
  • Net income for the same quarter of 1992: $14.6 million
  • Revenue for the fourth quarter of 1993: $278.3 million
  • Revenue for the same quarter of 1992: $246 million
  • Net income for 1993, excluding one-time items: $75.4 million
  • Net income for 1992, excluding one-time items: $57.2 million
  • Revenue for 1993: $981.2 million
  • Revenue for 1992: $900.1 million

Sources:

  • "Lotus Development Corp. reports fourth quarter and full year 1993 results."

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