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1991-03-04
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FOR IMMEDIATE RELEASE Contacts:
Jennifer Jester/ Gary Wolfe/ Lucia Graziano
Banyan Public Communications
508-898-1000
Carol Wentworth/ Joann Anderson
Copithorne & Bellows Public Relations
617-252-0606
BANYAN SYSTEMS ANNOUNCES RECORD 1990 REVENUES
Company Completes 17th Consecutive Profitable Quarter
WESTBORO, Mass., February 26, 1991 -- Banyan Systems today reported
that revenues for the fiscal year ended Dec. 31, 1990 increased 23
percent to a record $98.2 million from $80 million the preceding
year. The company said its 1990 revenues exceeded original
projections by $2.2 million.
Net revenues for the fourth quarter, ended Dec. 31, were $28.4
million, up 35 percent over the fourth quarter of 1989. This
contributed to Banyan's 17th consecutive quarter of profitability
and increased total cash reserves to more than $20 million. As the
company continued to make investments for long term growth, net
profits for the year rose 24 percent to $4.7 million. Fourth
quarter profits increased 53% over the same period a year earlier
to $2.3 million.
"Overall market demand for Banyan's networking products remained
strong in a period when the high technology sector experienced a
market slowdown," said David C. Mahoney, Banyan President and CEO.
- more -
BANYAN ANNOUNCES RECORD FY90 RESULTS/ Feb. 26 / Page 2
"We attribute this success to the increasing demand among the
corporate sector for unified global networks capable of
accommodating unlimited numbers of users needing access to a wide
variety of computer resources. When Fortune 1000 customers look for
that solution today, BanyanR VINESR is the best and most complete
answer," Mahoney said.
The company's strong performance stems from a combination of
factors:
* Establishment of lucrative business partnerships with leading
computer hardware and software vendors.
* Expansion of the company's product distribution through its
reseller channels in the U.S. and worldwide.
* Significant growth of market opportunities for corporate-wide
Company Continues to Build New Alliances
Banyan has actively been building business partnerships with
leading computer hardware and software companies, including Compaq
Computer Corp., AT&T Computer Systems, Microsoft Corp., and Lotus
Development Corp. This partnership strategy has helped expand the
number of channels distributing Banyan VINES products while closely
linking them with other significant products, such as the COMPAQR
SYSTEMPROTM, AT&TR StarServerTM E, MicrosoftR WindowsTM, and Lotus
NotesR. These relationships add a new element of flexibility to
Banyan's and its partners' products, and have also led to increased
product demand across the board.
- more -
BANYAN ANNOUNCES RECORD FY90 RESULTS/ Feb. 26 / Page 3
International Business Experiences Upswing
Banyan has seen an infusion of new business from abroad as its
international marketing activities have strengthened the company's
foothold throughout Europe and the nations of the Pacific Rim.
International business, conducted by means of country partners who
coordinate distribution, sales and support of Banyan VINES in their
respective countries, accounted for 21 percent of Banyan's revenues
in 1990, and the company expects this revenue source to increase
significantly in 1991.
Indirect Distribution Channels Yield 85 Percent of Banyan Revenue
In 1990, more than 85 percent of Banyan's combined domestic and
international revenues originated with its North American resellers
and international country partners. Projections for 1991 see this
climbing to 90 percent. The company's continued migration from
direct to predominantly indirect sales has effectively increased
the number of authorized outlets reselling Banyan VINES to more
than 400 worldwide. Banyan plans to double this to more than 800 in
1991.
Company Builds Wider Distribution Channels
Channel expansion was bolstered in 1990 by Compaq's announcement of
a joint integration agreement with Banyan. The companies agreed to
jointly develop and market powerful new solutions for corporate-
wide PC networks. There are now more than 100 outlets nationwide
- more -
BANYAN ANNOUNCES RECORD FY90 RESULTS/ Feb. 26 / Page 4
that sell, service, and support integrated Banyan and Compaq
networking solutions.
Earlier this month, Banyan announced a strategic relationship with
AT&T Computer Systems to jointly develop and market products to
fully integrate the computing resources of large national and
multinational organizations into unified global networks. The
agreement with AT&T will also allow jointly authorized resellers to
configure, install and support network solutions based upon
products from both companies.
Leading Business Publications Track Banyan's Progress
Banyan's rapid growth was recently cited by Inc. in its 1990 list
of the fastest growing private companies in America. In the
company's first year of eligibility for this list, Banyan ranked
114th overall. Banyan had increased revenues by more than 2,000%
over the five year period ending in 1989.
The Feb. 18 issue of Forbes noted in a profile of Banyan:
"Now, in an era of UNIXR and 'open systems', Banyan is well
positioned. Networks are getting bigger and more complex, and
are more likely to combine computers of differing makes.
Competitors are trying to emulate Banyan's emphasis on open
systems, but they are behind Banyan in power and
flexibility..."
###
BANYAN ANNOUNCES RECORD FY90 RESULTS/ Feb. 26 / Page 4
About Banyan Systems and Banyan VINES
Banyan Systems is the pioneer and a leader in corporate-wide PC
networking, helping businesses and other organizations integrate
all their computer resources into unified global networks.
Headquartered in Westboro, Mass., the privately held company
markets products worldwide through authorized resellers and country
partners. One of the nation's largest privately held software
houses, Banyan was founded in 1983 and now employs nearly 600
persons in the U.S. and abroad.
Banyan VINES is a fully distributed PC network operating system
based on UNIXR and other standards. It enables any organization to
interconnect an unlimited number and variety of personal computers
(PCs), minicomputers, mainframes, local area networks (LANs), wide
area networks (WANs), applications programs, and other computer
resources into one easy to use, easy to manage global network.
Unlike traditional workgroup and PC cluster solutions, Banyan VINES
networks can grow quickly and easily to keep pace with evolving
customer needs. Today Banyan VINES links nearly a million PCs with
a host of other computer resources at thousands of organizations
around the world.
Banyan and VINES are registered trademarks of Banyan Systems.
AT&T is a registered trademark and StarServer is a trademark of
AT&T.
COMPAQ is a registered trademark and SYSTEMPRO is a trademark of
Compaq Computer Corp.
Lotus Notes is a registered trademark of Lotus Development Corp.
Microsoft is a registered trademark and Windows is a trademark of
Microsoft Corp.
UNIX is a registered trademark of UNIX Systems Laboratories.