Saville Systems, which employs more than 200 people at its Galway plant, has announced record fourth-quarter revenue of $44.2 million (#38 million), a 35 per cent increase over the same period in 1997.
Founded in 1982, Saville provides convergent billing and customer care software solutions for the telecommunications industry and employs more than 1,400 people worldwide. It has offices in the US, Canada, Australia, Britain and Germany as well as Ireland. The company, which floated in November, 1995, is Irish-registered but is based in Burlington, Massachusetts and is quoted on the Nasdaq market in the US.
Net income for the fourth quarter was also a record at $10.1 million, or $0.25 per diluted share, compared to $7.8 million, or $0.20 per diluted share for the fourth quarter of 1997. Annual revenue for 1998 was $167.7 million, a 57 per cent increase over the 1997 results of $107.0 million. Net income for 1998, excluding a one-time charge for purchased in-process research and development, was $36.5 million, or $0.90 per diluted share, as compared to $23.9 million, or $0.61 per diluted share, for 1997. The one-time charge of $17.7 million, net of an associated tax benefit of $1.1 million, was taken in the second quarter of 1998 for certain technology under development at the time of acquisition and associated acquisition costs and expenses. Saville acquired an interconnect billing product from Cap Gemini in the second quarter and also bought an Australian company called BHA.
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