Applix Issues 2007 Earnings Guidance

WESTBOROUGH, Mass. (AP) -- Applix Inc., provider of business management software, said Thursday that full-year 2007 earnings are likely to come in below its 2006 results.

The company anticipates 2007 profit of 31 cents to 38 cents per share, based on about 18 million shares outstanding and a higher estimated effective tax rate of 40 percent. The company currently had about 17 million shares outstanding on Dec. 31.

Adjusted earnings are seen between 46 cents and 53 cents per share.

Analysts surveyed by Thomson Financial estimate earnings of 51 cents per share.

Full-year 2006 net income rose 43 percent to $9.5 million, or 56 cents per share, versus $6.7 million, or 41 cents per share, in the previous year.

Adjusted earnings were $9.1 million, or 54 cents per share, compared with $6.9 million, or 42 cents per share, in 2005.

Revenue for the year surged 41 percent to $52.2 million from $37 million.

Applix gained $1.87, or 17.2 percent, at $12.72 in morning trading on the Nasdaq stock market. The stock hit a new 52-week high of $13.50 earlier in the session.