JDA Analyst Guidance

JOA SOFTWARE
ANALYST GUIDANCE PACK - VERSION 8.22
JULY 23, 1997
CONFIDENTIAL AND PROPRIETARY INFORMATION

ANALYST GUIDANCE CHART - VERSION 8.22
23-Jul-97
1
~- ---~~~-~-__JoA~i::~1W.:u:~ in~--~--" l--~ii~~ I A~~~~fA-g~~~- r-f:=-3~u:ro=1~+-~~~~~~~~-
REVENuE $
i-SOFiWARE'-------~-~ 24.3 7.9 9.6 10.0-10.5 12.0-12.3 I 39.5-40.3 j --5~
! CMO~---------~~~~~~-2:3:.5:====::8.:9:====:1:1.:5::1:3:.0:-1:4:.0=::1:4.:~:1:5.:o_-~.~49.4: ~--
1~
12
8!TOTAL _ 47.8 16.8 21.1 23.0-24.0 26.5-27.3 __ 87.4-89.2 [ __
REVENUE GROWTH RATE
1··s-0FTWARE 59.3 56.9 89.5 63-68 47-52 ~ - 62-66 L i~~ --..1,
rcMo 58.7 104.5 113.9 100 100 , 100 I (~7~7'~;
!Tor~A---L------------1 c___5_9_.o~__7_9._1~__1_02_._2..__8_0_-8_8___1_0-_7_5_ 83-87 1 ____ ,__
REVENUE MIX
~,_sc_o_F_TW_A_R_E_________,l e----5=0--.8rl-____4=6.~7-+--~45~·=3.._--4=3---4=4--~4~4~~6---i1-=45~-=46~-I-~_4=7~~1
1~CMO J 49.2 53.3 54.7 56-57 54-56 1
54-55 l _5_3_c__
GROSS MARGIN PCT OF REV
l ~IALITOTALREV .____6_4_.8c-+-_~5=9.~o-+--_~55_.~8----5-4_-5_5___~s~4~~s-s_~_-~55~-=56_~i__~ 58-59 I
c_~_C_M_O_IC_M_O_R_E_V_______ c___ _3_0_.3-"--__2_5._3~__2_1._2..__2_2_-2_4_.__2_2-_2_4_____2_2_-2_4_~1-___ 24-25
1 PR"OFIT AFTER TAX PCT OF REV
EPS
!L _E_P_S_G_R_O_WT_H_RA_TE_____~ l
SHARES !----------~
16.1
0.639
52.3
12,010
13.7
0.176
37.6
13,168
12.3
0.198
54.7
13,081
13
0.24
42
13,300
14 13-14 i ® I
0,31 &,- 1251
48 45r-~
13,700' 13,300 ;---- 14,soo I

Statement of Operations
REVENUES:
Software license
Consulting fees
Maintenance fees
Other
Consulting, main!. and other
TOTAL REVENUES
COST OF REVENUES:
Software license
Consulting fees
Maintenance fees
Other
~ ~ : s.oo3 I 6,6021 8,2061 9,273130,0841 I 9,404110,436112,514115,486141,840 i 116,844121,o97j24,653128,6os1 91,1991 1125,ooo 1
TOTALCOSTOFREVENUES ~ ~ I 2,0731 2,4541 2,777j 2,6361 9,94011 2,9831 3,783j 4,6541 5,434l16,854j I6,904j 9,326j11,042j12,672j 39,94411 50,9201
GROSSPROFIT ~ ~ i 3,930j 4,148j 5,429j 6,637120,144116,421j 6,653j 7,860[10,052j30,986l j 9,940111,771j13,611115,9331 51,2551 I 74,0801
Consulting, Maint & OtherG.M. 0.366 0.408 0.374 0.400 0.330 0.254 0.341 0.326 0.339 0.278 0.283 0.303 0.253 0.212 0.240 0.240 0.236 0.255
OPERATING EXPENSES:
Product development
Sales and marketing
General and administrative
Tax rel dist to SCorp stkhldrs
TOTAL OPERATING EXPENSE ~ i 2.428 j 2,625 I3,s2s 14,061112,640 I I 3,988 j 4,2251 4,549 I 5,941 (18,1091 I6,441 j 1,8111 8,510I 9,247I 32.075I I 45,200 I
OPERATINGINCOME(LOSS) ~ ~ [ 1,502j 1,523[ 1,90312,576j 7,504112,433j 2.428j 3,311j 4,105l12,2771j3.499[ 3,954j 5,041j 6,686j 19,180j j 28,880/
Interest- net ~ ~ ! 57 j 135i 119 j 123[ 434 J I 65 [ (169~ (173~ (242~ (519~ I (356~ (364~ (320~ (320~ (1,360~ I (1,400~
Other
INCOME (LOSS) BEFORE TAX I (573~ I9,001 f ! 1,445 j 1,388 j 1,784 j 2,453 I7,070 I I 2,368 [ 2,597 j 3,484 / 4,347 (12,796 I I 3,855 / 4,318) 5,361 I7,006) 20,540 I I 30,280 I
PROVFORINCOMETAXES ~ ~: 181 351[ 4181 710[ 1,4971 [ 941[ 1,038[ 1,396[ 1,741[ 5,116[ [ 1,542j 1,728j 2,144j 2,802j 8,217[ I 12,112/
NET INCOME (LOSS)
NET INCOME PER SHARE
PRO FORMA OPER INCOME
PROFORMA PROV FOR TAX
PRO FORMA NET INCOME
PRO FORMA NET INC I SHAR
COMMON & EQUIV SHARES
23-Jut-97
5, 6' . '
7, 0 ,__,..,2,..-.1...t--c"""".n--.rn..-t---,...,.-.+-~.....-
f-='-~hz'-==-l-.-'-,==+--,,-:..,.=+~0~.6.,,.,...J37 f-0.,.--.1""7"'8-,.-,,.,rr--..-,...,.-+-..,.,.,.+-~==4 f--rn.rl
c_____J~--!~-'-~-"-~_J
-~~~~~~~~~ ~rn~rn~~C=o~ns~ens~us~-~>~>~ 0.17 0.19 0.24 0.31
~ !fO;O~ 10,952[10,952/10,952/10,952[10,9521111,182/12,183/12,282/12,600[12,064! [13,007[13,081113,400[13,700[ 13,297[ I 14,500 I
P,per ff6 .ivo .·1116 .'i{&f7
Ht-t1. _,q.~ .zz~ ,'.Z_i)iJ ,tfo3
,A?O'ld. .lt3 .. Z3~. ?l'3 , qf
Lt1t2UJ.. . t'fV :Z~(;, '3r'f 'erl'1
12--i
1-3.S iJq 1./-.11../. I
ilf, v

Percent ofTotalRevenues 11993 ! ---1 1997 ACTUAUPROJECTION 1998
: iuloboll [~ u
1:~GCQTR970.WK4 TI F
MMS SN'/ 95.34
Statement of Operations ISS SN'/ 4.66
ODBMS srw 0.00
REVENUES:
Software license 47.34 51.29 45.21 39.81 50.65 62.06 50.70 53.31 48.31 48.73 52.58 50.79 46.70 45.30 43.20 45.32 45.00 47.20
Consulting fees 43.49 39.10 42.95 49.80 40.48 30.39 39.91 37.74 43.60 41.95 40.06 40.87 45.52 47.05 49.37 48.36 47.80 46.40
Maintenance fees 7.51 7.33 9.45 8.63 7.48 6.55 7.84 7.08 6.55 5.96 5.93 6.30 5.92 5.70 4.55 3.98 4.89 4.56
Other 1.66 2.28 2.40 1.76 1.39 1.00 1.55 1.87 1.53 3.36 1.43 2.04 1.86 1.95 2.88 2.35 2.31 1.84
Consulting, main!. and other 52.66 48.71 54.79 60.19 49.35 37.94 49.30 46.69 51.69 51.27 47.42 49.21 53.30 54.70 56.80 54.68 55.00 52.80
TOTAL REVENUES 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
COST OF REVENUES:
Software license 1.50 0.24 0.23 1.06 0.77 0.13 0.53 0.27 2.11 0.17 1.11 0.92 1.19 1.10 1.61 2.72 1.76 1.38
Consulting fees 30.31 25.62 31.48 33.31 29.90 27.00 30.07 29.14 31.94 33.30 31.93 31.74 36.81 39.55 38.47 36.82 37.90 36.00
Maintenance fees 2.11 1.59 2.02 1.89 1.34 1.20 1.55 1.02 0.98 1.11 1.07 1.05 1.57 1.86 1.57 1.44 1.60 1.52
Other 0.94 1.62 0.80 0.91 1.83 0.10 0.89 1.30 1.23 2.61 0.99 1.53 1.42 1.69 3.14 3.32 2.54 1.84
Consulting, main!. and other 33.36 28.83 34.30 36.11 33.07 28.30 32.51 31.45 34.14 37.02 33.98 34.31 39.80 43.10 43.18 41.58 42.03 39.36
TOTAL COST OF REVENUES 34.87 29.07 34.53 37.17 33.84 28.43 33.04 31.72 36.25 37.19 35.09 35.23 40.99 44.21 44.79 44.30 43.80 40.74
GROSS PROFIT 65.13 70.93 65.47 62.83 66.16 71.57 66.96 68.28 63.75 62.81 64.91 64.77 59.01 55.79 55.21 55.70 56.20 59.26
OPERATING EXPENSES:
Product development 6.62 8,07 10.59 11.10 12.37 12.16 11.67 12.97 15.76 13.81 12.17 13.54 13.27 11.14 10.64 9.71 10.95 10.56
Sales and marketing 11.83 13.55 16.86 17.21 17.55 17.37 17.28 17.31 14.61 13.03 15.88 15.14 14.94 14.50 13.91 12.48 13.79 14.40
General and administrative 12.14 10.61 12.99 11.45 13.05 14.26 13.06 12.12 10.11 9.52 10.35 10.43 10.03 11.41 10.21 10.14 10.43 11.20
Tax rel dist to SCorp stkhldrs 36.52
TOTAL OPERATING EXPENSE 67.11 32.23 40.45 39.76 42.97 43.79 42.02 42.41 40.48 36.35 38.40 39.11 38.24 37.05 34.76 32.33 35.17 36.16
OPERATING INCOME (LOSS) (1.97) 38.70 25.02 23.07 23.19 27.78 24.94 25.87 23.27 26.46 26.51 25.66 20.77 18.74 20.45 23.37 21.03 23.10
Interest - net 0.85 0.93 0.95 2.04 1.45 1.33 1.44 0.69 (1.62) (1.38) (1.56) (1.08) (2.11) (1.73) (1.30) (1.12) (1.49) (1.12)
Other
INCOME (LOSS) BEFORE TAX (2.82) 37.77 24.07 21.02 21.74 26.45 23.50 25.18 24.89 27.84 28.07 26.75 22.89 20.47 21.75 24.49 22.52 24.22
PROV FOR INCOME TAXES
NET INCOME (LOSS)
PRO FORMA OPER INCOME 34.55 38.70 25.02 23.07 23.19 27.78 24.94 25.87 23.27 26.46 26.51 25.66 20.77 18.74 20.45 23.37 21.03 23.10
PRO FORMA PROV FORTAX 12.48 14.42 9.08 7.94 8.21 9.99 8.87 10.01 9.95 11.16 11.24 10.69 9.15 8.19 8.70 9.80 9.01 9.69
PRO FORMA NET INCOME 21.22 23.35 14.99 13.09 13.53 16.47 14.63 15.17 14.94 16.69 16.83 16.05 13.73 12.28 13.05 14.70 13.51 14.53
23-Jul-97

Statement of Operations 1ss stw
REVENUES:
Software license
Consulting fees
Maintenance fees
Other
TOTAL REVENUES
COST OF REVENUES:
Software license
Consulting fees
Maintenance fees
Other
OOBMSS/W
;
5:
0.7 rn..,.--,.,.-1._,...--,,rr.,..-..rn-c,,..,..,.rr-,mCA'1
8.5 f---7_...,.,.-t~.,...+~~'-='...-r....-....-i h...--.-.+-.........-t--.=--..rl-=...-..,~~
'-----'~----L~__L~---L-~~ ~~~~~~~~~~~ ~~~
~ ~ j 4s.11I17.33[ 26.79[ 22.131 26.25[ j 56.66/ sa.011 52.50[ 67.00159.021119.121102.16 97.oo/ 84.121 9o.63/ ~
TOTALCOSTOFREVENUES Q!!j ~ j 28.761 54.34[ 45.47l 44.99l 43.50f I 43.90l 54.16167.59!106.15! 69.561 !131.44!146.52!137.26!133.20/ 137.00I ~
GROSS PROFIT ~ ~ j 55.521 2.75l 18.98114.93119.181I63.38l 60.39l 44.78l 51.4Sl 53.821!54.80l 76.93j 73.17[ 58.511 65.411 ~
OPERATING EXPENSES:
~:~:r:~~:~~~:~~:rative ~-' rnI~~I f.51~~El'~;I ~:11 ?,~l'~~I N~I r:*IiiiI!Sl:~~l:*~I i~I ~*I §iTax rel dist to SCorp stkhldrs ~
TOTALOPERATINGEXPENSE ~ ~ j 40.84l 50.95l120.51l 55.12l 64.58l I 64.25l 60.95l 29.01l 46.44l 48.01[ j 61.51[ 85.02188.39155.49/ 71.441 ! 40.92!
OPERATING INCOME (LOSS) ~ ~ I87.05 I(33.72~ (35.80~ (18.40~ (18.63~ I61.981 59.42 I 73.991 59.36 [ 63.61 I I43.811 62.85 I 52.25 [ 62.87 I 56.231 ~
Interest-net ~ Q!!J [(43.56~128.811395.831232.43196.381 [ 14.04[(225.2H245.4H296.7~(219.6~ [(647.7~115.38184.97[ 32.231 162.04[ ~
Other
INCOME (LOSS) BEFORE TAX ~ ~ [105.84 /(38.01~ (39.32H21.38~ (21.45~ I63.88 I87.10 I 95.29 I 77.21 [ 80.99 I I 62.80 I 66.27 I 53.87 I 61.171 60.52 [ ~
NET INCOME (LOSS)
PRO FORMA PROV FORTAX
COMMON &EQUIV SHARES
23-Ju/-97
~o:~ ~I 9.521 9.521 9.521 9.s21 9.s211 2.10111.24112.141 1s.05110.15111s.32[ 7.371 9.101 8.731 10.22J ~

De-Bl(WJlhM - Yep 1993 ---=-11 _u _ 199_5ACTUAL -1~ _1996 ACTIJ.AL_ m - _ : , 1997 ACTUALIPROJECTl: · 1 1998
___ o are roup, nc.=:J lobal __ 1 Id GLO_BALCONSOLIDATION ---~~OBAL COlrn>LIDATI()~ ___ : I __ US$ _
1 Confidential &Proprietary US$ ~ I US$ US$ • lACT I ACT IFCST PR J AJP
- -- GCQTR970.WK4 FY ~'!:__1 L1~~5l2<!95jJQ95jlQ95~~ ~Q"~~~Q96TFYJ [!0971 7 97 97 -
MMSS/W 1,560 (121) 293 435 ,'f67 , 5 2,574 9-s(,343) 4,061 53) ( 0 , 1 2 2
Statement of Operations ISSS/W (9) (86) 330 (122) 113 444 89 1,034 1,092 2,659 1,777 2,406 1,977 3,172 9,332
OOBMSS/W 0 328 155 269 752 0 (249) (67) 2,639 2,323 1,229 2,714 1,574 1,447 6,964
REVENUES:
Software license 1,501 2,601 1,551 121 778 582 3,032 2,299 2,414 1,942 2,388 9,043 2,853 4,515 4,552 4,821 16,741 17,963
Consulting fees 1,856 481 103 714 827 1,044 2,688 971 1,262 1,927 3,386 7,546 4,119 5,376 6,922 7,628 24,045 14,403
Maintenance fees 835 221 117 86 232 176 611 99 114 132 311 656 331 519 375 220 1,445 1,241
Other 155 205 95 54 (103) (122) (76) 32 44 307 128 511 137 251 290 450 1,128 194
Consulting, main!. and other 2,846 907 315 854 956 1,098 3,223 1,102 1,420 2,366 3,825 8,713 4,587 6,146 7,587 8,298 26,618 15,838
TOTAL REVENUES 4,347 3,508 1,866 975 1,734 1,680 6,255 3,401 3,834 4,308 6,213 17,756 7,440 10,661 12,139 13,119 43,359 33,801
COST OF REVENUES:
Software license (305) 248 12 (86) (33) 5 (102) (11) (150) 42 (160) (279) (175) (13) (376) (607) (1,171) (111)
Consulting fees (933) 54 (444) (734) (729) (1,034) (2,941) (850) (1,134) (1,713) (2,440) (6,137) (3,461) (5,011) (5,317) (5,587) (19,376) (10,440)
Maintenance fees (121) 51 (36) (41) (6) (6) (89) 25 23 (29) (54) (35) (168) (290) (249) (246) (953) (445)
Other (106) (195) 5 (3) (100) 217 119 (74) (68) (177) (144) (463) (117) (229) (446) (798) (1,590) 20
Consulting, main!. and other (1,160) (90) (475) (778) (835) (823) (2,911) (899) (1,179) (1,919) (2,638) (6,635) (3,746) (5,530) (6,012) (6,631) (21,919) (10,865)
TOTAL COST OF REVENUES (1,465) 158 (463) (864) (868) (818) (3,013) (910) (1,329) (1,877) (2,798) (6,914) (3,921) (5,543) (6,388) (7,238) (23,090) (10,976)
GROSS PROFIT 2,882 3,666 1,403 111 866 862 3,242 2,491 2,505 2,431 3,415 10,842 3,519 5,118 5,751 5,881 20,269 22,825
OPERATING EXPENSES:
Product development (392) (578) (182) (261) (567) (579) (1,589) (584) (912) (713) (757) (2,966) (1,015) (706) (895) (892) (3,508) (3,214)
Sales and marketing (984) (824) (336) (457) (889) (289) (1,971) (616) (389) (190) (848) (2,043) (889) (1,534) (1,799) (1,110) (5,332) (5,426)
General and administrative (123) (63) (186) (168) (471) (575) (1,400) (360) (299) (120) (281) (1,060) (549) (1,352) (1,327) (1,298) (4,526) (4,485)
Tax rel dist to SCorp stkhldrs (522) 7,422
TOTAL OPERATING EXPENSE (2,021) 5,957 (704) (886) (1,927) (1,443) (4,960) (1,560) (1,600) (1,023) (1,886) (6,069) (2,453) (3,592) (4,021) (3,300) (13,366) (13,125)
OPERATING INCOME (LOSS) 861 9,623 699 (775) (1,061) (581) (1,718) 931 905 1,408 1,529 4,773 1,066 1,526 1,730 2,581 6,903 9,700
Interest - net 163 (49) 44 (76) (95) (86) (213) (8) 304 292 365 953 421 195 147 78 841 40
Other 152 0
INCOME (LOSS) BEFORE TAX 546 9,574 743 (851) (1,156) (667) (1,931) 923 1,209 1,700 1,894 5,726 1,487 1,721 1,877 2,659 7,744 9,740
NET INCOME (LOSS)
PRO FORMA OPER INCOME 1,383 2,201 699 (775) (1,061) (581) (1,718) 931 905 1,408 1,529 4,773 1,066 1,526 1,730 2,581 6,903 9,700
PRO FORMA PROV FORTAX (179) (901) (277) 331 449 265 768 (396) (514) (722) (815) (2,447) (601) (690) (748) (1,061) (3,101) (3,895)
PRO FORMA NET INCOME 889 1,251 466 (520) (707) (402) (1,163) 527 695 978 1,079 3,279 886 1,031 1,129 1,598 4,643 5,845
PRO FORMA NET INC I SHAR 0.090 0.130 0.030 (0.060) (0.070) (0.040) (0.140) 0.048 0.048 0.060 0.057 0.217 0.050 0.070 0.070 0.100 0.290 0.326
COMMON &EQUIV SHARES 0 0 (952) (952) (952) (952) (952) (230) (1,231) (1,330) (1,648) (1,112) (1,825) (898) (1,118) (1,100) (1,233) (1,203)
23-Jul-97

Statement of Operations
REVENUES:
Software license
Consulting fees
Maintenance fees
Other
Consulting, maint. and other
TOTAL REVENUES
COST OF REVENUES:
Software license
Consulting fees
Maintenance fees
Other
1996 ACTUAL_____
GrOBALCOffSOLIDA I N
US$- ---
1997 ACTUAlTPRl'.fJECTION-1
~ ~ 1(2o.94~ 9.98124.3ol13.ool 26.251 I 1.41110.97119.911 23.751 59.0211 8.111 25.25116.86116.031 90.631
TOTALCOSTOFREVENUES ~~I 14.03118.38113.161 (5.08~ 43.501113.161 26.82123.02l16.76169.56! ! 27.05! 35.08l 18.40l 14.76l 137.00I
GROSSPROFIT [27:83/ I 27.70l l(31.95~ 5.55! 30.88122.25119.181 (3.25~ 3.61118.14127.89153.821(1.11~18.42115.63117.061 65.411
OPERATING EXPENSES:
Product development
Sales and marketing
General and administrative
TOTAL OPERATING EXPENSE
~ i ~4::5 1
~·~~:
03
l(S*l w:ii J:!Ii:iilFs:il Illil:j:;I ~1:NI S*I ~:~
~~I (7.26~ a.11134.32115.11164.ssl (1.ao~ 5.941 1.61130.73148.0111 8.311 2t36f 9.631 1.901 11.441
OPERATING INCOME (LOSS) ~ ~ I(52.42~ 1.40 I 24.95 I35.37 I(18.63~ I (5.55~ (0.21~ 36.371 23.981 63.61 I I(14.76~ 13.00 I 27.49 I 32.63 I 56.23 (
Interest- net ~ ~ I 54.05 J136.84 I(11.85~ 3.361 96.38 I I(47.15~ (360~ 2.37 I39.88 I (220~ 47.11 I 2.251 {12.09~ 0.00 I 162.04 I
Other
INCOME(LOSS)BEFORETAX ~ ~ (53.69~ (3.94~ 28.53137.50/(21.45~ I (3.47~ 9.67134.15/ 24.77/ B0.9911(11.32~ 12.01124.15130.681 60.521
NET INCOME (LOSS)
PROFORMA PROV FOR TAX
COMMON&EQUIVSHARES ~I 0.001 l 9.52j 0.001 O.OOL!_QQI~ I 2.101 8.951 0.811 2.59110.151 LE:![ 0.571 2.441 2.241 10.22j
23-Jul-97

Pct. ofFull Yr. in Each Qtr. 1997 ACTUAL/PROJECTION-~1
r$-
il'R"OJT~.
~0.
Statement of Operations ISS S/W 20.4 18.6 20.1 27.3 34.0 100.0
ODBMSS/W 0.0 12.2 27.8 16.6 43.4 100.0
REVENUES:
Software license 100.0 17.8 17.2 27.2 37.7 100.0 20.6 20.8 25.1 33.5 100.0 19.2 23.3 26.0 31.6 100.0
Consulting fees 100.0 21.5 27.4 27.7 23.5 100.0 18.2 23.3 26.8 31.7 100.0 17.6 22.8 27.9 31.7 100.0
Maintenance fees 100.0 24.0 24.2 26.0 25.7 100.0 22.1 22.7 24.8 30.5 100.0 22.4 27.0 25.1 25.5 100.0
Other 100.0 30.8 24.8 24.4 19.9 100.0 18.0 16.4 43.0 22.6 100.0 14.9 19.5 33.8 31.9 100.0
Consulting, maint. and other 100.0 22.2 26.8 27.3 23.7 100.0 18.7 22.9 27.3 31.2 100.0 17.9 23.0 27.9 31.2 100.0
TOTAL REVENUES 100.0 20.0 21.9 27.3 30.8 100.0 19.7 21.8 26.2 32.4 100.0 18.5 23.1 27.0 31.4 100.0
COST OF REVENUES:
Software license 100.0 8.8 44.0 39.6 7.5 100.0 5.7 50.2 4.8 39.3 100.0 12.4 14.5 24.7 48.4 100.0
Consulting fees 100.0 20.9 24.3 27.1 27.7 100.0 18.0 22.0 27.4 32.6 100.0 17.9 24.1 27.4 30.5 100.0
Maintenance fees 100.0 25.9 26.8 23.6 23.8 100.0 19.1 20.3 27.7 32.9 100.0 18.1 26.9 26.7 28.2 100.0
Other 100.0 18.0 22.5 56.2 3.4 100.0 16.7 17.5 44.8 21.0 100.0 10.3 15.4 33.3 41.0 100.0
Consulting, main!. and other 100.0 21.1 24.4 27.7 26.8 100.0 18.0 21.7 28.2 32.1 100.0 17.5 23.7 27.8 31.0 100.0
TOTAL COST OF REVENUES 100.0 20.9 24.7 27.9 26.5 100.0 17.7 22.4 27.6 32.2 100.0 17.3 23.3 27.6 31.7 100.0
GROSS PROFIT 100.0 19.5 20.6 27.0 32.9 100.0 20.7 21.5 25.4 32.4 100.0 19.4 23.0 26.6 31.1 100.0
OPERATING EXPENSES:
Product development 100.0 18.1 20.9 28.9 32.1 100.0 18.8 25.4 26.7 29.1 100.0 22.4 23.5 26.3 27.8 100.0
Sales and marketing 100.0 19.5 21.9 27.7 31.0 100.0 22.5 21.1 22.5 34.0 100.0 20.0 24.3 27.3 28.4 100.0
General and administrative 100.0 19.9 19.2 27.3 33.6 100.0 22.9 21.1 23.9 32.1 100.0 17.8 25.3 26.5 30.5 100.0
TOTAL OPERATING EXPENSE 100.0 19.2 20.8 27.9 32.1 100.0 21.3 22.6 24.3 31.8 100.0 20.1 24.4 26.7 28.8 100.0
OPERATING INCOME (LOSS) 100.0 20.0 20.3 25.4 34.3 100.0 19.8 19.8 27.0 33.4 100.0 18.2 20.6 26.3 34.9 100.0
Interest - net 100.0 13.1 31.1 27.4 28.3 100.0 -12.5 32.6 33.3 46.6 100.0 26.2 26.8 23.5 23.5 100.0
Other
INCOME (LOSS) BEFORE TAX 100.0 20.4 19.6 25.2 34.7 100.0 18.5 20.3 27.2 34.0 100.0 18.8 21.0 26.1 34.1 100.0
NET INCOME (LOSS)
PRO FORMA OPER INCOME 100.0 20.0 20.3 25.4 34.3 100.0 19.8 19.8 27.0 33.4 100.0 18.2 20.6 26.3 34.9 100.0
PRO FORMA PROV FORTAX 100.0 20.4 19.6 25.3 34.7 100.0 18.4 20.3 27.3 34.0 100.0 18.8 21.0 26.1 34.1 100.0
PRO FORMA NET INCOME 100.0 20.4 19.6 25.2 34.7 100.0 18.6 20.3 27.2 33.9 100.0 18.8 21.0 26.1 34.1 100.0
PRO FORMA NET INC I SHARE 100.0 19.0 19.0 26.2 35.7 100.0 20.0 20.1 26.7 32.5 100.0 19.2 21.4 25.9 33.1 100.0
23-Jul-97

Gross Margin by Segment
I o are roup, nc.
1----Confidential&Proprietary
- ---- GCOTR970.Wi<4
I ~ullbollar
sof!Ware license
Consulting fees
Maintenance fees
Other
TOTAL GROSS MARGINS
TOTAL GROSS MARGINS
I PMChange vs. Pnor Year
So are license
Consulting fees
Maintenance fees
Other
TOTAL GROSS MARGINS
I €orz.-sT lhan Pnor Year I
o are 1cense
Consulting fees
Maintenance fees
Other
TOTAL GROSS MARGINS
I fuc£Chg. vs. Precedmg <Jb: I
o are license
Consulting fees
Maintenance fees
Other
TOTAL GROSS MARGINS
23-Jul-97
113,2361116,902113.930[ 4,14815.429! 6.631120,144116.42116,653[ 1,860110.052130,9861I9.940[11.m/13.611/15,933/ s1,2ss11 14,080/
[:!!!] ~ I 65.5 I 62.81 66.21 71.6 I 67.o I I 68.3 / 63.8 I 62.81 64.9 / 64.8 I I 59.o I 55.81 55.21 55.7 / 56.2 I I 59.3 /
~ ~ 1 55.5[ 2.11 19.01 14.9[ 1s.21 1 63.4[ 6o.4/ 44.8[ 51.5[ 53.8[ I 54.8[ 76.91 73.2[ 58.5[ 65.4[ 1 44.5[
~ 13,508/ J 1,4o3/ 1111 866J ss213,2421I2,491[ 2,so5[ 2,431[ 3.415[10,842[ I 3,519[ s.118[ 5,151[ 5,881[ 20,269[ I 22,825[
I -3t9 / 5.5/ 3o.9 / 22.31 19.2/ I -3.3 / 3.6 / 18.1 / 27.9 / 53.8 / 1 -u I 18.4 I 1s.6 I 11.1 I 65.4 I 1 44.5I

[TOTA[R-E_VE_N_U_ES___~i 47,840143,320l46,854l45,822!46,91230,084123,829l I 4,520I 9861 2,0181 928117,7561 I 110.41102.1I104.41102.0l 159.0f 1.000l 1.000 1.000f 1.000j 1.000j 1.000j
COST OF REVENUES:
~~-::lmMO~other~
96
--+--+-'~~~~~,:11§11~1II I I1:§1
rTOTAL_COST OF REVENUE~ [16,854113,519116,770116,220 ,16,6321 9,940 I 6,927 I I(3,335~ (84~ (634~ (222~ (6,914~ I124.7 100.5 i 103.9 I 101.3 I 169.61 I 0.3521 0.3121 0.3581 0.354 I 0.3551 0.330 I
[Tl:ITA[_E~-RATING EXPENSES I 18,709 [16,461 [18,032 17,612 [18,100 /12,640 I 7,680 I I(2,2~ (677H1.097~ (609~ (6,06~ I 113.7 I 103.8 I 106.2 I 103.4J 148.0 I I 0.391 J 0.380 I0.385 J 0.384 [ 0.3861 0.420 I
~ING INCOME (LOSS) I 112,277 13,340[12,052f11,990/12,180 I7,504 / 9,222 / I(1,063~ 225 / 287 [ 97 [ 4,773 I 92.0 I 101.9 J 102.4J 100.8 J 163.6I I 0.257 J 0.308 J 0.257 f 00262 i 0.260 I0.249 I
~t-net 11 (51~ (620~ (567~ (52~ (502~ 434[ 221[ / (101~ (48~ (~ 111 9531 f 83.7[ 91.51 98.51103.41 - ) (0.011~(0.014~(0.012~(0.012~(0.011~ o.o14f
iiNCOM~-l~OSS) BEFORE TAXES I 12,796[13,960f12,619 12,517 )12,682[ 7,070 I9,001 f I(1,164~ 177 f 279 f 114[ 5,726 f I 91.7 J 101.4 f 102.2 f 100.9 f 181.0 I I0.267 0.322 [ 0.269 f 0.273 f 0.270 I0.235 f
l'ROVfSIONFOR INCOMETAXES [ j 5,116[ 5,3031 5,045[ 4,982/ 5,072/ 1,4971 5001 i 1871 (71~ (134~ (44F3,619~ I 96.5[ 101.4f 102.7[ 100.9f 341.81 I 0.1071 0.1221 0.1081 0.1091 0.1081 0.0501
'NETIN-COME(LO,SS~)~-117,68018,6571?,574i7,5351 7,~015,57318,50111 (977! 1061 145[ 7012,107 I 88.71101.41101.9l 100.91137.81J0.161j 0.20010.16210.16410.1620.1851
INETINC~R~HARE .. o.639 0.124 o.s2s 0.6291 o.s2s o.5o9 o.sso (o.o85! o.orr o.on10.013 0.1311. sa.3 101.a 1ou1102.11 m.1
_CQ~MON &-EQ_~IV ~~RES r n _ l ~2,010111,953 1
12,060!11,987112,154 [10,95~ G9J_(l0~ : (57j 50 I (23~ 144~ i 100.5 [ 99.61_100.2 / 98.8; 109.7~ r CONFIDENTIAL & PROPRIETARY [

23-Jul-97
[ ··10Asof!WareGrau~nc.
----- GCMCOM6.WK4___
STATEMENT OF OPERATIONS
REVENUES:
·scif!wareLicense -MMS
~onsultmg fees
MaintenanceTees
Other
Consulting, maint and other 7,281 8,800 7,400
1~ro_T_A_LR_E_v_EN_u_es___~I 11s,844!15,196 !16,761 !14,soo !15,o81 !15,215!15,6oo I9,404115,486 I ~~-~-~-.....J...-__.__ _c_____, 11.000 I1.000 I1.ooo I tooo I1.000 I1.000 I1.ooo I 1.ooo I
COST OF REVENUES:
r SoftWare license ---~
onsulting ees r-,.,.,..+...,.,.,.,.+,...,.,.,..r---+----+--r---r-.;,..,..,,.rt-,-nn
Maintenance ees
er
onsulting, maint and other .
I GROSS PROFIT I I 154.8 I144.2I154.1 I136.0 I141.0 I 142.2 I152.6 I I0.590 I0.609 I0.590 I0.602 Io.600 I0.600 I0.628 I 0.683 I
Consulting, Maint &Other GM Pct. t...,.:,...,....-Jc...,n,,...,.i-.r.,,,...i-.,,c..,.,.,..i-""",,.-L~~"""'r-,"""....,.~ 77.6 62.5 33.9 67.2 65.9 103.4 78.7
OPERATING EXPENSES:
[!OTALOPERATINGEXPENSEs I f!441! 5,850! 6,467! 5,500j 5,sso1 s.1311s,30o13,988/ 5,9£1j161.5! 14s.111n21131.9! 141.7j 143.9! 158.011 o.3821 o.385! o.3861 o.3791 o.3751 o.m1 o.4041 o.4241
!OPERATING INCOME (LOSS) I I3,499 I3,411 I3,4271 3,230 I3,403 I3,392I3,500 I2,4331 4,105 I I143.8 j 140.21140.91132.8 ! 139.9 ! 139.4! 143.91 I0.208 I0.2241 0.2041 0.223 I 0.2261 0'223 I0.2241 0.259 /
1Interest. net I I (356~ (311~ (360~ (420~ (310~ (275~ (300~ 65 I (242~ I - I - I - I - I - I - I - I Ico.021~ (0.024~ (0.021~ (0.029~ (0.021) (0.018~ (0.019~ 0.0011
INCOME (LOSS) BEFORE TAXES I I 3,855I3,782 ( 3,787I 3,650I 3,713 I3,667 / 3,800I 2,368 I4,34!] I 162.8J 159.7 I 159.9 I154.1 J 156.8 J 154.9 I160.5I I0.229 I0.249 I0.226 I0.252 I0.246 I0.241 I0.244 I 0.252 I
!PROVISION FOR INCOMETAXES I ! 1,542! 1,513! 1,515! 1,460! 1,485! 1.46711,500! 94111,741 I ! 163.9! 160.81161.0l 155.2( 157.8( 155.9/ 159.4/ / 0.0921 0.1001 0.0901 0.101 I 0.098! 0.0961 0.0961 0.100/
rc:·oM~oN:!_ECON SHARES___ ] [!3,168 l13,378 l13,378[13,150113,300j13,2oo113,050111,182 l1~~~~J !111.8 [ 119.6 I 119.6 I 117.6 f 118.9 f 118.o 1116.1 i l__ CONFIDENTIAL & PROPRIETARY :=J

l~~~~~·E~~~~~lb1~~~;.1~:£~:i~~;~~~;;:.~;Ns;D~~;rAf;~~TE;;;;~;s;~;£~~:1:i:~~;,p~~·REVENUES: 7116 4122 314 F 616 4125 5122 4125
rsOftWa.re ucen5e-=-MMS--- 4,218 4,453 3,874 4,511 4,823 4,277 87.5 92.3 80.3 93.5 0.200 0.260 0.198 0.252 0.4621
sottware License - ISS- 2,546 1,900 1,824 900 140 2,360 1,819 1,357 1,303 642.9 0.121 0.111 0.093 0.050 0.013
Software License - ODBMS
-~--·-----!
Software license
2,793 1,950 4,039 2,700 79 1,229
9,557 8,303 9,737 8,500 8,200 8,111 8,900J 5,042 7,866
0.132 0.114 0.207 0.151 0.008
0.453 0.485 0.498 0.500 0.473 0.453 0.500 0.483
3,535 2,468 5,113 3,418
189.5 164.7 193.1 168.6 162.6 160.9 176.5
ConsultingTees .436
Maintenance fees . 66
Other 0.015
Consulting, maint and other 8,500 9,154 9,800 8,900 I 5,394 157.6 169.7 181.7 165.0 0.500 0.527 0.547 0.500 0.517
'--ITO_T_A_L_RE_V_EN_U_ES___~I l21,097 j17,128 l19,554 l17,000 j17,354 l17,911 l17,800 j10,436 l16,844 I I202.2 j 164.1 I 187.4 I162.9 i 166.3 I171.6 I 170.6 !I 1.000 I 1.000 I1.000 I1.000 I1.000 I1.000 [ 1.000 I1.000 I
COST OF REVENUES:
iSoftWare license
Consulting fees
Maintenance fees
Other
Consulting, maint and other
[TOTALCOSTOFREVENUES [I 9,326[ 6,831[ 8,448[ 6,545[ 6,840[ 7,361[ 6,720[ 3,783l 6,904[ I246.5l 180.6/ 223.3[ 173.0[ 180.8[ 194.6I 177.6/ / 0.442/ 0.39910.43210.385[ 0.39410.41110.37810.362[
I GROSS PROFIT j j11,111j10,297[11,106l10,455[10,514[10,550l11,081j 6,653j 9,940[ [ 176.9[ 154.8[ 166.9[ 157.1j 158.0j 158.6j 166.5j J 0.558[ 0.601j 0.568j 0.615j 0.606j 0.58910.623[ 0.638[
Consulting,Maint&OlherGMPct. 0.212 0.241 0.177 0.250 0.289 0.282 0.285 0.339 0.253 62.5 71.0 52.1 73.6 85.0 83.1 84.0
OPERATING EXPENSES:
l Product development
l Sales and marketing
t General and administrative
2,351 2,485 1,967 2,500 2,300 2,400 3,062 1,645 2,235
3,059 2,445 3,123 2,540 2,600 2,740 2,492 1,525 2,517
2,407 1,738 1,804 1,683 1,700 1,750 1,869 1,055 1,689
0.111 0.145 0.101 0.147 0.133 0.134 0.172 0.1581
0.145 0.143 0.160 0.149 0.150 0.153 0.140 0.146 i
0.114 0.101 0.092 0.099 0.098 0.098 0.105 o.101j
142.9 151.1 119.6 152.0 139.8 145.9 186.1
200.6 160.3 204.8 166.6 170.5 179.7 163.4
228.2 164.7 171.0 159.5 161.1 165.9 177.2
[TOTALOPERATINGEXPENSES j j 7,817/ 6,668j 6,894[ 6,723j 6,600j 6,890/ 7,423j 4,225[ 6,441j j 185.0l 157.8l 163.2l 159.1l 156.2 163.1j 175.7l J 0.371[ 0.389j 0.35310.39510.38010.385[ 0.4171 D.405J
IOPERATING INCOME (LOSS) I I3,954 j 3,629: 4,212 I 3,732 I 3,914 j 3,660 I3,658 I2,428 I3,499 [ I 162.9 [ 149.5 j 173.5 [ 153.7 [ 161.2 [ 150.7 / 150.7 I i 0.187 I0.212 / 0.215 I0.220 I 0.226 I 0.204 [ 0.206 I 0.233 i
I Interest- net I I (364X (378~ (359) (400X (378X (375~ (SOOj (169~ (356X I 215.4 [ 223.7 j 212.4 [ 236.7 [ 223.7 I 221.9 j 295.9 I [(0.017j(0.022! (0.018~ (0.024~ (0.022j(0.021X (0.028X (0.016X
ilNCOME(LOSS)BEFORETAXES I J 4,318l 4,007[ 4,571/ 4,132[ 4,292l 4,035l 4,158[ 2,597j 3,855[ j 166.3j 154.3l 176.0[ 159.1[ 165.3[ 155.4j 160.1I [ 0.205[ 0.234[ 0.234j 0.243[ 0.247[ 0.225[ 0.234[ 0.2491
IPROVISIONFORINCOMETAXES I 1,728[ 1,60311.828[ 1,653[ 1,717[ 1,61411,667[ 1,038[ 1,5421 [ 166.5[ 154.4/ 176.1/ 159.2/ 165.4[ 155.5/ 160.6[ / 0.082[ 0.094j 0.09410.09710.099j 0.090j 0.094[ 0.099)
INET INCOME (LOSS)
3,954 3,629 4,212} 3,732 3,914 3,660 3,658 2,428 3,499 162.9 [ 0.187 0.212 0.215 0.220 0.226 0.204 0.206 0.233]
1,728 1,603 1,828 ! 1,653 1,717 1,614 1,667 1,038 1,542
2,590 2,404 2,743J 2,479 2,575 2,421 2,491 1,559 2,313
0.191! 0.184 0.204 ! 0.190 0.195 0.183, .0.190 0.128 0.176
l 0.082 0.094 0.094 0.097 0.099 0.090 0.094 0.099J
I 0.123 0.140 0.140 0.146 0.148 0.135 0.140 0.149]
166.5
154.
LcoMMO_t!B. E§DTv ~~RE!_:J 113,081!13,100 1
13,425 1
13,050 1
1~13,200113,100 [12,183113,168 J [ 101.4!101.5 I 110.2 I 101.1_~ 108.3 ! 108.3 / 101.5; CONFIDENTIAL & PROPRIETARY

23-Jul-97
JDA SoftWare Group,lnc. -- - ---- - - - - - ·--
!Consulting ees
rMaintenance fees
~-other
.!-CO-ns-u~lti-ng-,m-a~in~t-an~d-oth~e-r-~ 0.540 0.516~~~~~~~~~~~~~~~~~
ilOTAL REVENUES I /37,941 /33,972 /36,315 /33,844!34,198 /34,755 /34,644 /19,840 /28,000 I I191.2 / 171.2 / 183.0 I170.6 I172.41 175.2 I 174.61 I1.000 I1.000 I1.000 I1.000 I 1.000 / 1.000 I1.000 I1.000 I
COST OF REVENUES:
~~:m~·- .I!~I!~I!§I:JI::1::I:]I!~I
. GROSS PROFIT ~ I 166.1 / 154.8 / 160.6 / 156.0 I156.4/ 156.7 / 160.8/ I0.572I0.596 / 0.578 I0.603 / 0.598 / 0.590 I0.607 / 0.659 I
--Consulting, Maint &other GM Pct. '°"'.,,.,.r--,,--,,,..--L---,.-,--,-,,-L""',.,.--'--""",r---"""'.,,-"---"""",r-,~r-r,~ 69.0 74.1 44.5 75.5 81.3 80.4 80.7
OPERATING EXPENSES:
=-p~~~~Ir:}:~:~;~~~~~~tive------< ~~~~~I ~E:il m:~I ~E:il ~!:!I m:!IiE:;I~E:~l I~:ml ~:ml ~:iEI ~jSI ~:i:I ~:il!I ~:~:1 ~j*I
,-TOIACOPE"RATINGEXPENSES~ j14,258 /13,109 /13,361 l13,164 /13,041 /13,331 l13,864/ 8,213 /10,496 / I 173.6 I159.6 I 162.7 / 160.31 158.8/ 162.3 j 168.8 / I 0.376 / 0.386 / 0.368 / 0.3891 0.381 I0.3841 0.400 I0.414 /
:OPERATINGINCOME(LOSS) I/ 7,45317,12817,639/ 7,231/ 7,413/ 7,159/ 7,157/ 4,861/ 7,416/ / 153.3/ 146.61157.1/ 148.8/ 152.5/ 147.3/ 147.2/ / 0.196/ 00210/ 0.210/ 0.214/ 0.217/ 0.206J 0.207j 0.245/
I Interest -net I / (720~ (734~ (719~ (756~ (734~ (731~ (856~ (104X (415~ I 692.3 / 705.8 / 691.3 [ 726.9 [ 705.8 j 702.9 / 823.1 / I{0.01~ (0.022F0.02~ (0.022~ (0.021F0.021F0.02~ (0.005~
~OME (LOSS) BEFORE TAXES I I8,173 [ 7,862 [ 8,358 I7,987 I 8,147 I7,890 I8,013I4,965I7,831 / I164.6 I158.3 i 168.3I160.9 I164.1 / 158.9 I161.4 I I0.215 j _0.231 / 0.230 I0.236 j 0.238 j 0.227 j 0.231 j 0.250 I
;PROVISIONFORINCOMETAXES I I3,270l 3,145l 3,343l 3,195/ 3,259l 3.156j 3,209/ 1,97913,137/ / 165.21158.9l 168.9j 161.4/ 164.7/ 159.51162.210.086/ 0.0931 0.092/ 0.094/ 0.095/ 0.091/ 0.09310.100/
N"EllNCOMEl[OS~)
-NEITNCOMEPERHARE
COMMON & EQUIV SHARES --1 J13,070113,100113,4001_1~00 113,100 113,100 '13,050_~~ I111.9 ! 112.1 . 114.7 ! 112.1 I 112.1 j 112.11 111.7 f L CONFIDENTIAL & PROPRIETARY

m'c,_f) [---- ------------
23-Jul-97 ~
' JOA~_oftwa~e Group~ 1~_ ---J '----------
GcMcoMs.wK4
REVENUES:
8, 00
1,318
9,818 11,000 9,000
lTOTALREVENUES I /24,~53125,953121,255[19,SOOl18,918l20,096119,500l12,514121,097l I197.0l 207.4J 169.8J 155.8J 151.2J 160.6J 155.8J J 1.000l 1.000l 1.000l 1.000J 1.000J 1.000l 1.000l 1.000I
CSG COGS Savings to SIW 1, 00
COST OF REVENUES:
: GROSS PROFIT
- onsultmg, Maint & her
OPERATING EXPENSES:
j Product development
["-Sales an ma eting
" eneral and administrative
ITOTAUWERATING EXPENSES I I8,570 I8,570fUl3fl,325I 7,000 I7,3441 7,605 i 4,549I 7,817 I I188.41 188.41 151.1 / 161.0 I 153.9 J 161.4J 167.2I I0.348 / 0.330 I0.323 J 0.376 J 0.370I 0.365 / 0.390 I0.364 I
'0PERATINGINCOME(LOSS) I/ 5,041/ 5,041/ 5,767, 4;850i 4,66314,81414,710/ 3,311[ 3,954/ / 152.3/ 152.31174.2/ 146.5/ 140.8/ 145.4/ 142.3/ !0.204/ 0.194/ 0.271/ 0.24910.246/ 0.24010.242J 0.265)
I Interest- net I I (320~ (320~ (359~ (400~ (394~ (400~ (500~ (173~ (364~ I 185.0 I 185.0 I 207.51 231.2 [ 227.7 f 231.2 [ 289.0 J I(0.013~ (0.012~ (0.017~ (0.021~ (0.021~ (0.020~ (0.026~ (0.014~
ITNCOME (LOSS) BEFORE TAXES I I5,361 / 5,361 I 6,126T5,250 i 5,057 j 5,214 I 5,210 I 3,484 / 4,318 / / 153.9 I 153.9 I 175.8 / 150.7 I 145.1 I 149.7 / 149.5 I I0.217 I 0.207 I 0.288 f 0.269 / 0.267 / 0.259 / 0.267 I0.278 I
f!!OVISIONFORINCOMETAXES / 12,144/ 2,144/ 2,45012,100! 2,023J 2,08612,08911,39611,728 / 153.61153.61175.5/ 150.4l 144.9l 149.4l 149.71/0.08710.08310.115/ 0.108/ 0.107/ 0.104/ 0.107/ 0.1121
~~---i h~~=+-,.-==+~~~~.+-..-,.-=rt-~+.,.-,....-J I;~:;1 ;~:!I ~~:~/ ;~::I ~~:;I ~::~I ~;~:~I '0.1301 0.1241 0.1131 0.1621 0.1601 0.156 1 o.1so 10.167 1
CONFIDENTIAL &PROPRIETARY

23-Jul-97 LDw[_ -J~~ s~ftWare-Group:-rnc::-·___J - -
GCMCOM6.WK4
REVENUES:
-SOffWare License--MMS--
-Sof!Ware L!Cense - IS
-c-onsultingTees
Maintenance fees
-other
i GROSS PROFIT I 13,611 13,611 12, I173.2 J173.2 I 160.8 I154.9 I 148.4 I 154.7 I156.7 I I0.5451 0.524 I0.595I0.624I0.617 I0.605 I 0.632 ( 0.628 I
Consulting, Maint &other GM Pct. ~...,-i--,,-,...r,.:.,.,,.,.-L-,n.,,.,.-"---,r,..,...r--.,.r-,.,T'..,.,.,r---,.,,...,r-,,~ 78.6 52.9 93.1 90.0 107.3 112.1 93.6
OPERATING EXPENSES:
/PrOduct development
r-sales and marketing
[Generaland~a-~dm~in~is-tra~tiv-e---< ~---'------'-------'--~-~-~-~-~~ ~~----'-~-~------'-------'----' ~----'----'---'-----'-----"-----'---'---__J
[lOTACC>Pe-AATINGEXPENSES=1 I8,570 I8,570 I6,873 ( 7,325 J7,000 I 7,344 / 7,605 / 4,549 J 7,8171 I 188.41 188.4 / 151.1 / 161.0 I 153.9 I 161.4 / 167.2 f I0.3431 0.330 I 0.323 I 0.376 I0.370 I 0.365 / 0.390 I0.364 I
[OPERATING INCOME (LOSS) I I5,0411 5,0411 5,767 I 4,850 I 4,6631 4,8141 4,710 i 3,311 / 3,9541 j 152.3 I 152.3 I 174.2 I 146.51 140.81 145.4 [ 142.3i i 0.2021 0.194 I 0.271 ( 0.249 ( 0.246( 0.240 I 0.242 / 0.265 /
I Interest- net I I (320~ (320~ (359~ (400~ (394~ (400~ (500~ (173~ (364~ I185.0 I 185.0 I 207.5 / 231.2 I 227.71 231.21 289.0 I I(0.013~ (0.012~ (O.OHF0.021~ (0.021H0.020~ (0.026~ (0.014~
~~~~S)BEFORETAXES / ( 5,361l 5,361/ 6,126/ 5,250l 5,057l 5,214/ 5,210J 3,484l 4,318J I 153.9J 153.9l 175.8i 150.7/ 145.1/ 149.7/ 149.5I ! 0.2151 0.2011 0.288[ 0.2691 0.26710.25910.2671 0.2781
IPROVISIONFORINCOMETAXES 11 2,14412,1441 2,45012.10012.0231 2,086J 2,08911.39611.728/ I 153.61153.6117S.5/ 150.4/ 144.9/ 149.4/ 149.7/ I0.0861 0.0831 0.115/ 0.1081 0.107/ 0.1041 0.1011 0.1121
1
154.11154.11~7s.11150.9,145.3, 149.8, 149.511
1o.129/0.124/ o.1731o.162[0.1601o.15610.160( o.167!
r-.,....,-,ri-,.......+..,.--,.~-....--n<+,....,.,.+-,.-,.,...-t--;.-.....~~ct--;,--,-,,,,-i . 142.3 142.3. 160.5 141.4 134.2 138.3 139.1
~~~------ ~----'---'------"-----'----'------'------'-------'----'
!C-OM~oN &eau1v sHARES==1 ~oo 113,300113,475:13,100 13,300113,300 :13,200 '12,282 '13,081 I I108.3 [ 1o8.3 I 109.7: 106.1 ! 108.31108.3 1
101.s r

-- -----.. ------GLOBAL-CONSOLIDATED- . 3R1raUARfER1997-ANALYSfS
-, -·----·--·-~~x -- ---
=~~= PROJ rest
vPY
Consulting fees
Maintenancelees
Other
fTOTAL REVENOEs ;a,124,:12jj5312;;55l19,soo118,91a 120,096119,soo112,514121,0911 1 194.61 201.41 169.81 15s.81 15t21 160.6 11s5.8 1 1
tooo 1toooJ!Ooo 1.000 1
1.ooo 1
tooo 1
tooo 1
1.000 1
CSG COGS Savings to 1, Iq
COST OF REVENUES:
I SoftWare hcense
! Consulting fees
~Maintenance fees
[TOTAL OPERATING EXPENSES I I 8,570 I8,570 I6,873 [ 7,325 j 7,000 I7,344 j 7,605 j 4,549 j 7,817 j I188.4 j 188.4[ 151.1 j 161.0 I153.9I 161.4I167.2) I0.352 j 0.330 I 0.3~3 0.376 [ 0.370 I0.365I0.390 I0.364 j
)OPERATING INCOME (LOSS) I I 5,041 I5,041 [ 5,767 I4,850 I4,6631 4,814 I4,710 I3,311 I3,954 [ I152.31 152.3 [ 174.2 [ 146.5 [ 140.8 [ 145.4[ 142.3 [ I0.207 !0.194 [ 0.271 0.249 i 0.246 j 0.240 I0.242 [ 0.265 [
i Interest- net [ I (32~ (320~ (359~ (400~ (394~ {400~ (500~ (173~ (364~ I 185.0I 185.0 I207.5 [ 231.2 [ 227.7 [ 231.2 [ 289.0 [ [(0.013F0.012~ (0.017) (0:-021~ (0.021F0.020~ (0.026~ (0.014~
[INCOME (LOSS) BEFORE TAXES I I5,361 j 5,361 I6,126 [ 5,250 I 5,057 [ 5,214I5,210I3,484 [ 4,318 [ I 153.9 j 153.9[ 175.8 [ 150.7 I145.1 j 149.71 149.5 i I0.220 I 0.2011 0.288 0.269 I0.267 I0.259 [ 0.267 [ 0.278 [
[PROVISIONFORINCOMETAXES I I2,144[ 2,144[ 2,450[ 2,100l 2,02312,08612,089[ 1,396j 1,728[ [ 153.6[ 153.6[ 175.51150.4[ 144.9[ 149.4[ 149.7/ I0.088[ 0.083[ 0.115· 0.108/ 0.107/ 0.104/ 0.107/ 0.1121
0.249
o.1"'08.-tn...-n-;ot-n-77at-n""'"+-nnn-J
0:1531-~-~--~-~
ICOMMON & EQUIV SHARES I ~,300 !13,300 1
13,475!13,100j13,300113,300113,200[12,282 !13,081 f I108.3 I108.3 I109.7 [ 106.7: 108.3 [ 108.3: 107.5 L __ CONFIDENTIAL & PROPRIETARY

ConsultingTees
Maintenance fees
-ofher
TOTAL REVENUES I 162,594163,89457,570153,344153,116 [54,851154,144132,354 38,436 [ 193.5 j 197.5 I177.9 164.91 164.2I169.5 I167.3 I I1.000 [ 1.000 ! 1.000 [ 1.000 I 1.000 I1.00011.000I1.000 I
COST OF REVENUES:
[TOTAL COST OF REVENUES
QROSS PROFIT I 1168.7 168.7 160.7 155.6 I15J.4I156.0 I159.2 j I0.5641 0.553 I0.584I0.611 I 0.6051 0.595 I0.616 0.647 I
Consulting, Maint &other GM Pct. '---..n,,...,-'---,,,.,..,.-'---,r;r><n'-""""'..r-""'<:T"--"""cr--."""'r-,f"'S7'~"511'J-' 75.1 63.0 61.5 80.6 00.1 91.2 85.4
OPERATING EXPENSES:
[TOTAL OPERATING EXPEmJ 22,828 j22,828 j20,234 j20,489 j20,041 /20,675 /21,469 /12,762 /14,721 I I178.9 / 178.9 / 158.5 / 160.5[ 157.0 I162.0 I 168.2 j I 0.365 j 0.357 I0.351 I0.384 j 0.3" I0.377 j 0.3971 0.394 [
[OPERATINGINCOME(LOSS) j j12,494j12,494j13,406[12,081j12,076j11,973[11,867/ 8,172/ 9,844j / 1519j 152.9j 164.0[ 147.8/ 147.81146.5l 145.2) / 0.200) 0.196) 0.233) 0.22610.227[ 0.21810.21910.2531
[ Interest - net I I(1,040~ (1,040X(1,078F1,1~ (1,12~ (1,131H1,356~ (27~ (~ I 375.5/ 375.51 389.2 [ 417.31 407.21 408.3 I489.51 I(0.017)(0.016~ (0.019~ (0.022~ (0.021)(0.021H0.025~ (0.009~
llNCOME(LOSS)BEFORETAXES / /13,534l13,534l14,484j13,237j13,204j13,104j13,223l 8,449110,428l I 160.2l 160.2j 171.4j 156.7j 156.3l 155.1j 156.5 f 0.21610:21210.25210.24810.2490.23910.244[ 0.261
(PROVISIONFORINCOMETAXES [ ( 5.414/ 5,414/ 5,793/ 5,295/ 5,282/ 5,24215,299) 3,37514,175j J 160.4l 160.41171.71156.91156.51155.3j 157.0l J 0.08710.08510.101j 0.09910.099j 0.096j 0.09810.104j
r~()~!Ao_~ &Eau1v s~~-E~ ___J l13,100113,100113,400113,100113,100113,100113,100 1
11,884112,3551 I110.21 110.21 112.81 110.21 110.21110.21 110.21 CONFIDENTIAL &PROPRIETARY

,-Consulting fees
MaintenanceTees
lJfher
Consulting, maint and other 147.1 1 3.4 133.5'
[TOiAr"REVENUES I 128,;05l30,905123,112122,000l22,000l23,606122,130l15,486124,653l I 184.71199.6l 149.21142.1 I 142.11152.4j 142.9! ! 1.000! 1.000l 1.000l 1.000l 1.000J 1.000l 1.000l 1.000I
CSG COGS Savings=cut in SJW 2, 00 1,300
COST OF REVENUES:
JTOTAL COST OF REVENUES I j12,672 l14,972 I 8,3691 7,9231 7,919 I 8,734 ! 8,0411 5,434111,042I I233.2 I 275.5 I154.0I145.8 I145.7 I 160.71 148.0 I I 0.4431 0.4841 0.3621 0.360 I 0.360 I 0.370 I 0.3631 0.3511
I GROSS PROFIT I I 158.5 I 158.5 I m·7 I 1:.0 Ii:·1 I1g.o I 1:.21 I0.557 I 0.516 I 0.638 I 0.640 I 0.640 I 0.630 I 0.637 I 0.649 I
Consulting,Maint&otherGMPct. 84.6 69.0 .2 .2 .8 1 .7 .0
OPERATING EXPENSES:
1·ToTACoPE"RATIN~XPENS!SJ I9,247 I 9,447 J1,1so 1 8,055 J1,800 I8,241 J1,635/ 5,947 / 8,570 / / 155.5/ 158.9 / 120.21 135.4 I 131.2J 138.6 J128.4I Io.3231 o.306 J o.3o9 j o.366 J o.3551 o.349 J o.3451 o.3841
!OPERATINGINCOME(LOSS) / / 6,686/ 6,486l 7,593/ 6,02216,281/ 6,63116,454/ 4,105/ 5,041/ / 162.9/ 158.0J 185.0l 146.7j 153.0l 161.51157021j0.23410021010.329j 0.27410.28610.28110.29210.2651
i Interest- net I I (320~ (320~ (3~ (450~ (41~ (4~ (500~ (242~ (32~ I 132.2 J 132.21 148.3I 186.0 I 170.7I 196.31 206.61 I(0.011~ (0.010~ (0.016~ (0.020~ (0.019H0.020H0.023~ (0.016~
[INCOME (LOSS) BEFORE TAXES I I7,006 / 6,806 I 7,952 / 6,472 / 6,694 / 7,106 / 6,954/ 4,347 J 5,361 / I 161.2J 156.6 J182.9 J 148.9 J154.0I 163.5 J160.0l I0.245J 0.220 I0.344 j 0.294 I 0.304 J 0.301 J0.314 I 0.281 I
fPROVISIONFORINCOMETAXES J J 2,80212.72213.181l 2.589/ 2,678/ 2,842/ 2,789/ 1,741/ 2,144j J 161.0J 156.4l 182.71148.71153.8j 163.21160.2110.09810.08810.13810.118j 0.12210.12010.12610.1121
l CONFIDENTIAL &PROPRIETARY

---------------~
23-Jul-97
C_ JD~~?ffWareGroup, Inc.
'-ITO_T_A_LR_EV_EN_U_ES___~l l91,199171,175180,682175,344/75,116J78,457J76,274J47,8401 ~~-~-~-~-~~-~ 11.000l 1.000l 1.000! 1.000l 1.000! 1.000l 1.000l 1.000I
COST OF REVENUES:
!TOTAL COST OF REVENUES I 139,944 /26,988 /32,299128,697 !28,918130,937128,849 /16,854 J I237.0 I 160.11 191.61 170.3 I 171.61 183.6 J171.2 J I0.438 J 0.3791 0.400 I 0.381 I0.3851 0.394 0.3781 0.3521
I GROSS PROFIT I 51,255 44,187 11;5.41142.61156.111:.511:.11153.41153.~l 1o.ss21 0.6211 0.6001 o.6191 0.615J o.606J 0.622J o.648/
Consulting, Maint &Other GM Pct. 0. 7.9 79.2 75.8 .8 .2 96.4 86.
OPERATING EXPENSES:
/TOTAL OPERATING EXPENSES I 132,075126,050 27,384128,544 /27,841 /28,916/29,103118,709 I I 171.4 / 139.2 I 146.4i 152.6 J 148.8I 154.6 J 155.6 J I 0.352I0.366I 0.339 / 0.379 J 0.371 j 0.3691 0.382 J 0.3911
!OPERATING INCOME (LOSS) I /19,180118,137120,999 !18,103 [18,357 18,604 !18,321 )12,2771 I156.2 I 147.71 171.0I 147.5I 149.51 151.5 / 149.21 I 0.210I0.2551 0.260I0.240 I 0.2441 0.2371 0.240I0.257 /
Qnterest ·net I (1,360~ (1,520~ (1,437H1,606~ (1,541~ (1,606~ (1,856~ (519~ I 262.0 I 292.9 I 276.9 309.4 J 296.91 309.4 / 357.61 I(0.015~ (0.021~ (0.018~ (0.021~ (0.021~ (0.02~ (0.024~ (0.011~
[lffCOME (LOSS) BEFORE TAXES I /20,540 J19,657 l22,436 l19,709 19,89820,210120.111112,796 I160.5 153.6 I175.3 I 154.0I155.5 157.9 157.7 I 0.225 0.276 I0.278 / 0.262 I0.265 I0.258 / 0.265 / 0.267 I
IPROVISIONFORINCOMETAXES I/ 8,216/ 7,863! 8,97417,884! 7,960 8,0B418,087/ 5,1161/160.6 153.71175.4l 154.1 155.6i 158.0l 158.11/0.090 0.110/ 0.111 0.105 0.106 0.10310.106 0.1071
~-~M!1~~-~ Eau1v SHARES I !13,300 :13,151/13,445113,190113,225113,225!13,150112,010 I I110.11109.5I111.9I 109.s 1110.11 110.1 ! 109.5 I L CONFIDENTIAL & PROPRIETARY

23-Jul-97
----------- ----------- ----- -(fLOBAL CONSOLIDATED • FULL YEAR 1·9-9~-8~-A-~N~A~L-~vs=1s~ -- ---------------------,
[_=JOA so~~~Qr!J~}nC.- J1-------~--~--=--=-~-~-=---_-_-_-_u:s:s=:=:=------c==~===----1
GCMCOM6WK4 1998 ESTIMATE 1997 ESTIMATE
STATEMENT OF OPERATIONS JOA PIPER H&Q MONT Lazard JOA PIPER H&Q MONT Lazard
REVENUES: 6"6 4125 5122 4125 7123 6"6 4125 5122 4125
--Software License · MMS
'SoftwareDcense=~______,
Software License -OOBMS
Software license
Consulting fees
Maintenance fees
Other
18,000
21,000
20,000
59,000 51,500 51,000
58,000 42,000
5,700 8,271
2,300
66,000 46,000 50,271
23,389 17,025 21,140
6,600 13,973 5,410
20,000 10,039 10,129
49,989 52,300 41,037 38,116 36,366 36,679 39,596
43,597 33,468
4,459 5,282
2,106
56,000 47,900 50,162 37,228 38,750 41,n8 36,678
INDEX --r,1----------.p=c=T--.oO=F-=R=EVE~N=uE~-----------<
1998 EST. VS. 1997 EST. l 1998 ESTIMATE J1 1997 ESTIMATE
JOA PIPER H&Q MONT Lazard LJOA jPIPERJ H&QIMON1Ilazar~ [JOA lPIPERl H&QlMONTjLazard
105.7 110.6 0.144 0.221 0.187 0.269
150.3 122.0 0.168 0.062 0.153 0.069
199.2 197.5 0.160 0.189 0.110 0.129
143.8 135.1 140.2 136.3 132.1 0.472 0.528 0.504 0.472 0.522 0.450 0.506 0.484 0.468 0.519
133.0 125.5 0.464 0.415 0.478 0.446
127.8 156.6 0.046 0.082 0.049 0.070
109.2 O.Q18 0.023
131.6 123.6 129.7 134.0 130.6 0.528 0.472 0.496 0.528 0.478 0.550 0.494 0.516 0.532 0.481
'-)TO_T_A_LR_EV_EN_U_ES___~l I12s,oool 91,sool 101.ml 1os,9a9l 100,2001 )91,199l75,344l75,116l7B,457)7&;2741 I 137.1l 129.41134.81135.11131.41 ) 1.000I 1.000l 1.000l 1.000l 1.000l 11.000I 1.000l 1.000I 1.000I 1.000I
COST OF REVENUES:
o are 1cense
Consulting fees
Maintenance fees
Other
Consulting, mamt an
[fDTALCOSTOFREVENUES I l50,920l35,247l36,500l41,548l39,818l )39,944l28,697l28,918l30,937l28,849l) 127.5l 122.8) 126.2l 134.3l 138.0I ) 0.4071 0.3621 0.3601 0.3921 0.3971 I 0.4381 0.3811 0.3851 0.394) 0.378)
I GROSSPROFIT ~ )74,080)62.253l64,ml64,441l60,382l l51,2ss!46,647l46,198j47,520!47,425I I 144.5l 133.5l 140.2) 135.6l 127.3l I o.5931 o.6381 o.64ol 0.6081 o.6031 Io.5621 o.6191 o.6151 o.&061 0.6221
Consulting, Maint &Other GM Pct. 0.255 0.254 0.315 0.294 0.248 0.236 0.251 0.288 0.292 0.263
OPERATING EXPENSES:
Product development
Sales and marketing
Generafand-a-dm-i-enis~tra-ti-ve_ ___,
13,200 11,87112,500 12,600 12,926 9,986 9,935 9,435 10,065 11,515
18,000 14,13815,500 16,42811,122 12,574 11,25811,017 11,71210,089
14,000 10,09110,200 9,800 8,617 9,515 7,351 7,389 7,139 7,500
132.2 119.5 132.5 125.2 112.3
143.2 125.6 140.7 140.3 110.2
147.1 137.3 138.0 137.3 114.9
0.106 0.122 0.123 0.119 0.129
0.144 0.145 0.153 0.155 0.111
0.112 0.103 0.101 0.092 0.086
0.109 0.132 0.126 0.128 0.151
0.138 0.149 0.147 0.149 0.132
0.104 0.098 0.098 0.091 0.098
)TOTAL OPERATING EXPENSES I l45,200l36,1ool38.200l38,828l32,665I )32,015128,544121,841128,916)29,1031 140.91 126.51 137.21 134.31 112.21 Io.362! o.3101 o.3nl o.3661 o.3261 Io.352j o.379j o.m I o.3691 o.3821
)OPERATING INCOME (LOSS) I l28,880l26,153l26,571125,613)21,1111 )19,180l18,103118,357l18,604l18,321 I 150.61144.51144.71137.71 151.31 I 0.231 I 0.2681 0.2621 0.2421 02n1 I 02101 o.2401 0.2441 0.2371 0.2401
I Interest- net I I(1,400j(2,040j(1,861j(2,500j(2,sooj I(1,360j(1,606j(1,541j(1,606j(1,856l 102.91 121.01 120.81 155.71 134.7! I(0.011](0.021)(0.018j(0.024j(0.025l I(O.D1sj{o.021J(o.021j(o.020](0.024j
~OME(LOSS)BEFORETAXES ! l30.280l28,193j28,432l28,113j30,217l )20,540l19,709j19,898j20,210l20,1nj 147.4j 143.0j 142.9j 139.1I 149.81 I 0.2421 0.2891 0.2811 0.265! 0.3021 ) 0.2251 0.2621 0.2651 0.2581 0.2651
/PROVISION FOR INCOME TAXES I /12,112111.211111,373l11,245)12,117j I8,2161 7,8841 7,9601 8,0841 8,0871 I 147.41 143.0I 142.91 139.1 I 149.8I I0.0971 0.116! 0.1121 0.1061 0.1211 I 0.0901 0.105! 0.1061 0.1031 0.1061
;±INCOME (LOSS)
INCOME PER SHARE
PROFORMA OPERATING INCOM
PROFORMA PROV FOR INC TAX
PROFORMA NET INCOME
)COMMON &EQUIV SHARES
0.231 0.268 0.262 0.242 0.277
0.097 0.116 0.112 0.106 0.121
0.145 0.173 0.168 0.159 0.181
0.210 0.240 0.244 0.237 0.240
0.090 0.105 0.106 0.103 0.106
0.135 0.157 0.159 0.155 0.159
CONFIDENTIAL &PROPRIETARY

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