BEA Systems Presenta sus Resultados del Cuarto Trimestre y del Año Fiscal; AquaLogic alcanza el 27% de los ingresos por licencias de software en el cuarto trimestre, impulsado por la adopción por parte de los clientes de Arquitecturas Orientadas a Servicios

BEA alcanza un flujo de caja de explotación de 367 millones de dólares para el conjunto del año fiscal

Madrid, 04 de marzo de 2008 — BEA Systems, Inc. (NASDAQ: BEAS), compañía líder en software de infraestructura empresarial ha anunciado sus resultados financieros correspondientes al cuarto trimestre fiscal, así como los resultados del año fiscal que terminó el 31 de enero pasado. BEA ha alcanzado en este periodo ingresos totales de 440,9 millones de dólares, un aumento de un 13% con respecto al cuarto trimestre del año anterior. La compañía ha obtenido ingresos por licencias de software de 179,5 millones de dólares, un 6% más que hace un año, e ingresos por servicios de 261,4 millones de dólares, lo que ha supuesto un aumento de un 17% respecto al año anterior. BEA ha terminado el trimestre con un flujo de caja por sus actividades operativas de 123,0 millones de dólares, frente a 3,4 millones de dólares hace un año.

Según los principios contables USGAAP, BEA ha obtenido en el cuarto trimestre unos ingresos de explotación de 87,7 millones de dólares, frente a una pérdida de 148,3 millones hace un año. En el mismo periodo, la compañía ha alcanzado, según los principios USGAAP, unos ingresos netos de 75,7 millones de dólares y unas ganancias de 0,18 dólares por acción, frente a unas pérdidas netas de 99,7 millones de dólares, y unas pérdidas netas por acción de 0,25 dólares en el cuarto trimestre de 2007.

Sin tener en cuenta los principios USGAAP, BEA ha obtenido unos ingresos de explotación  de 119,3 millones de dólares y un margen de explotación del 27,1%, frente a 92,5 millones de dólares y 23,6% de margen hace un año. Para los tres meses que terminaron el 31 de enero, BEA ha alcanzado ingresos netos no USGAAP de 97,8 millones de dólares y ganancias por acción de 0,23 dólares, frente a 67,5 millones de dólares y 0,16 dólares por acción hace una año. Para más detalles sobre la diferencia entre los resultados USGAAP y no USGAAP, consulte la información al final de esta nota de prensa.

Para el conjunto del año fiscal, BEA ha obtenido ingresos por un total de 1.535,8 millones de dólares, un incremento de un 10% respecto al año fiscal que terminó el 31 de enero de 2007.  BEA ha alcanzado ingresos por licencias de 552 millones de dólares, una reducción de un 4% respecto al año anterior, e ingresos por servicios de 983,8 millones de dólares, un incremento de un 19% respecto al año fiscal 2007. Para el año fiscal 2008, según USGAAP, BEA ha obtenido ingresos de explotación de 231,3 millones de dólares, ingresos netos de 208,2 millones de dólares, e ingresos netos diluidos por acción de 0,50 dólares, frente a unas pérdidas de explotación de 33,6 millones de dólares, ingresos netos de 4,5 millones de dólares e ingresos netos diluidos por acción de 0,01 dólares en el año fiscal 2007. En el año fiscal que terminó el 31 de enero de 2008, BEA alcanzó ingresos operativos no USGAAP de 351,9 millones de dólares, un margen de explotación de 22,9%, ingresos netos de 293,1 millones de dólares e ingresos netos diluidos por acción de 0,70 dólares, frente a ingresos de explotación de 293,3 millones de dólares, un margen de explotación de un 20,9%, ingresos netos de 223,6 millones de dólares e ingresos netos diluidos por acción de 0,55 dólares en el año fiscal 2007.

En el año fiscal 2008, BEA tenía un flujo de caja por sus actividades de explotación de 366,9 millones de dólares frente a 204,4 millones de dólares en el año fiscal 2007. BEA ha terminado el año fiscal con un balance de tesorería, equivalentes a tesorería, inversiones a corto plazo, y tesorería restringida de 1,5 mil millones de dólares. Así mismo, BEA alcanzó ingresos diferidos de 477,0 millones de dólares, un 6% más que hace un año.

“En el cuarto trimestre, las ventas de licencias de software han superado nuestro récord histórico", ha afirmado Alfred Chuang, Presidente y CEO de BEA Systems, Inc.  "Nuestro equipó continuó centrado en lograr una buena ejecución y de alcanzar el éxito para nuestros clientes, y lo han conseguido. Estoy muy satisfecho con el equipo y con sus resultados".

"Nuestros clientes, entre los que figuran unas cuantas marcas globales, han continuado en el proceso de adopción de tecnología de BEA como base para sus arquitecturas SOA. Nuestros clientes han utilizado los productos de BEA para potenciar algunas de las soluciones de negocio más exigentes e innovadoras.  A medida que las empresas adoptan SOA para transformar su negocio, los productos y los conocimientos de BEA les ayudan a alcanzar los objetivos de su negocio", ha afirmado Chuang. "En el cuarto trimestre, el gobierno y la integración SOA siguieron siendo impulsores claves de esta tecnología a medida que nuestros clientes nuevos y existentes adoptan nuestra visión de SOA."

Propuesta de Adquisición por Oracle

Tal y como ya se ha comunicado previamente, el 27 de febrero de 2008, el Departamento de Justicia y la Comisión Federal de Comercio de los Estados Unidos de América permitieron adelantar el cierre del periodo de revisión Hart-Scott-Rodino ("HSR") de la propuesta de Oracle Corporation de adquirir BEA. Como también se ha anunciado previamente, BEA ha programado una junta especial de sus accionistas, que tendrá lugar a las 10 hrs (hora Pacífico occidental) el próximo viernes, 4 de abril, con el fin de analizar y votar la propuesta. La transacción todavía requiere la autorización de los accionistas de BEA y la aprobación de los órganos reguladores de la Comisión Europea, así como el cumplimiento de otras condiciones de cierre.

BEA Proporciona Resultados a sus Clientes y Amplia sus Acuerdos de Partners

En el cuarto trimestre se han firmado acuerdos con los siguientes clientes, partners, y usuarios: Activos Para Telecomunicacion, Alberta Energy and Utilities Board, Alcatel Lucent Bell, ALTEC, American Chemical Society, AT&T, Bank Zachodni, Cajamar, CashEdge, Chicago Mercantile Exchange, China Mobile SiChuan, Cigna, Cingular Wireless, City of Edmonton, Dell, Comagas, Deutscher Wetterdienst, eHarmony, Fastweb, France Telecom, ICMA Retirement Corporation, Hanaro Telecom, Italtel, Kookmin Bank, La Caixa, Level 3 Communications, Michael Page International, MOLSS JingZhou, MOLSS GuangZhou, NET Servicos de Comunicacao, Pearson Education, Pegaso PCS sa De Cv/Tegularizacion Licencias, Petroleo Brasileiro, PFA Pension, Philips Lifeline, Research in Motion, Screwfix, Sempra Energy, Sensis, Telecom Italia, Telecom Personal de Argentina, Telefonica Moviles Argentina, Telefonica Moviles Espana, TIAA-CREF, United Airlines, Vertex Pharmaceuticals,  y Vivo.

Por otra parte, se han alcanzado acuerdos nuevos, renovados o ampliados con los siguientes revendedores, fabricantes, integradores de sistemas, operadoras y vendedores de software independientes (ISVs): Airvana, Allegient Systems, Amdocs, CashEdge, Intec Billing, Magirus, Motive, Neptune Software, Research in Motion, SAS, Securus Technology, Sorenson Media Sterling y Wisor.

Acerca de BEA

BEA Systems, Inc. (NASDAQ: BEAS) es líder mundial de software de infraestructura empresarial. Más información acerca de cómo BEA facilita a los clientes adoptar la estrategia Liquid Enterprise en la página www.bea.com

Para más información:

BEA Systems
Carmen Pizarro
Tel: 91 38465 09 – 670 88 04 35
carmen.pizarro@bea.com

Weber Shandwick Ibérica
Adrian Elliot
Tel. 91 745 86 00
aelliot@webershandwick.com

Información complementaria (en inglés)

GAAP to Non-GAAP Reconciliation
This release includes non-GAAP operating income, non-GAAP net income and non-GAAP diluted net income per share data.  These non-GAAP measures are not in accordance with, or an alternative to, generally accepted accounting principles (“GAAP”) and may be different from non-GAAP measures used by other companies.  In addition, these non-GAAP measures are not based on any comprehensive set of accounting rules or principles.  Non-GAAP measures have limitations in that they do not reflect all of the items associated with BEA’s results of operations as determined in accordance with GAAP and these measures should only be used to evaluate BEA’s results of operations in conjunction with the corresponding GAAP measures.

Non-GAAP operating income consists of GAAP operating income excluding, as applicable, acquisition-related asset amortization, acquisition-related deferred compensation, acquisition-related in-process research and development, FAS123R expense, restructuring and separation charges (including facilities consolidations), stock option review expenses, 409A, stock option modifications, employee stock purchase plan bonus, land impairment charges, strategic advisor expenses and tender offer expenses.  Non-GAAP net income consists of non-GAAP operating income and excludes, as applicable, net gains on minority interests in equity investments and net gains on retirement of convertible subordinated notes.  Non-GAAP net income is adjusted by the amount of additional taxes or tax benefit that BEA would accrue if it used non-GAAP results instead of GAAP results to calculate BEA’s tax liability.  BEA may consider whether or not other items that arise in the future should also be adjusted from the non-GAAP financial measures reported.
Management believes it is useful in measuring BEA’s core continuing operations to exclude the following:

Acquisition-related intangible asset amortization, acquisition-related deferred compensation expense and acquisition-related in-process research and development expense because these costs are primarily fixed at the time of an acquisition and generally cannot be changed by management.

FAS123R expense because it enhances investors’ ability to review BEA’s business from the same perspective as BEA management, who believes that FAS123R expense is not directly attributable to the underlying performance of BEA’s core continuing operations since it is a non-cash charge. 

Land impairment charges because this cost was a one-time charge and not related to core operations.

Expenses associated with or as a result of our stock option review and restatement.  Stock option review expenses include third party expenses resulting from the review and restatement.   409A expenses associated with remedying current and former employees Internal Revenue Code 409A and equivalent state tax exposure.  The employee stock purchase plan bonus relates to payments made to certain employees who were unable to participate in the employee stock purchase plan due to the inability of the Company to issue shares during the stock option investigation.  Stock option modifications primarily due to the extension of stock option exercise periods for former employees and withholdings for income and employment taxes associated with “reclassified” and “modified” stock options from incentive stock options (ISO) to non-qualified stock options (NQSO).  Tender offer expenses relating to payments made to employees to compensate for re-pricing of options.  These expenses should be excluded because they resulted from non-core operations and were incurred primarily from the fourth quarter of fiscal 2007 through the fourth quarter of fiscal 2008.

Strategic advisor expenses associated with shareholder activist activity, the Oracle acquisition offer and the related shareholder litigation.  These expenses should be excluded because they result from non-core operations.

Management also believes it is useful to exclude gains on minority interest in equity investments and gains on retirement of convertible subordinated notes since these are not direct results from core continuing operations and, in the case of the minority interest in equity investments, are not under the control of BEA.  The foregoing items excluded from BEA’s non-GAAP operations are consistently excluded by BEA’s management for internal planning and forecasting purposes as well as employee compensation decisions.

BEA believes that presenting its non-GAAP measures of operating income, net income and diluted net income per share provides investors with an additional tool for evaluating the performance of BEA’s business, which management uses in its own evaluation of performance, and an additional base line for assessing the future earnings potential of BEA.  While GAAP results are more complete, BEA believes it is valuable to allow investors to have this supplemental measure, with reconciliation to GAAP, since it may provide additional insight into our financial results.

Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding customer adoption of BEA products, the proposed merger with Oracle Corporation, and BEA’s use of non-GAAP financial metrics and the value of such metrics in assessing BEA’s future earnings and financial results.  Forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those contemplated by the forward-looking statements.  Such risks and uncertainties include, but are not limited to, the risk that Nasdaq may de-list BEA’s common stock for failure to comply with any Nasdaq listing requirement; the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement; the outcome of any legal proceedings that me be instituted against BEA and others following announcement of the proposal or the merger agreement; the inability to complete the merger due to the failure to obtain stockholder approval; the inability to obtain necessary regulatory approvals required to complete the merger; the risk that the proposed transaction disrupts current plans and operations and the potential difficulties in employee retention as a result of the proposed merger; the ability to recognize the benefits of the merger or of any combination of BEA and Oracle; quarterly fluctuations in customer spending due to economic, geopolitical, competitive and other factors; dependence on the growth of the markets for BEA’s products, especially the markets for SOA, service infrastructure, VOIP and telecommunications software, and overseas markets such as China; changes in the standards or technologies used in the SOA, telecommunications and portal markets that could render our products less competitive; declines in spending by the telecommunications industry as a result of consolidation or adverse economic conditions; our dependence on large transactions, particularly those consummated at the end of our quarters; dependence on new product introductions and enhancements; the introduction by competitors of new products and pricing strategies; market acceptance of BEA’s enhanced product portfolio; BEA’s ability to integrate new technology and personnel as a result of acquisitions; the length of BEA’s sales cycle; the acceptance of BEA’s products by channel partners; the success of BEA’s channel partners; rapid technological change; potential software defects (particularly with regard to newly introduced and planned products); BEA’s ability to retain and hire key personnel; misinterpretations resulting from the provision of non-GAAP financial information.

These and other risks are set forth in the “Risk Factors,” “Legal Proceedings” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of and elsewhere in BEA’s Form 10-K for the fiscal year ended January 31, 2007 that was filed with the Securities and Exchange Commission on November 15, 2007.  Many of the factors that will determine the outcome of the subject matter of this release are beyond BEA’s ability to control or predict.  The forward-looking statements and risks stated in this press release are based on information available to BEA today.  BEA assumes no obligation to update them.

Important Additional Information Regarding the Proposed Merger

In connection with the proposed merger, on February 7, 2008, BEA filed a preliminary proxy statement with the Securities and Exchange Commission (the “SEC”).  Investors and security holders are advised to read the preliminary proxy statement and, when it becomes available, the definitive proxy statement, as well as any other relevant documents filed with the SEC when they become available, because they will contain important information about the merger and the parties to the merger.  Investors and security holders may obtain a free copy of the proxy statements and other documents filed by BEA at the SEC website at http://www.sec.gov.  The proxy statements and other documents filed by BEA with the SEC also may be obtained for free at BEA’s Internet website at www.bea.com/investors or by writing to BEA Systems, Inc., 2315 North First Street, San Jose CA 95131, Attn: Investor Relations Department.  In connection with the special meeting of BEA stockholders to approve the adoption of the merger agreement, BEA will mail copies of the definitive proxy statement to BEA stockholders who are entitled to attend and vote at the special meeting.

The information in the preliminary proxy statement is not complete and may be changed.  Before making any voting or investment decisions with respect to the proposed acquisition or any of the other matters with respect to which BEA’s stockholders will be asked to vote pursuant to the proxy statement, BEA’s stockholders are urged to read the definity proxy statement and other documents filed by BEA when they become available.