Quest Announces Record Revenues, Buys FastLane Technologies

Quest Software announced that its second-quarter 2000 revenues more than doubled revenues for the same period last year. For the quarter ending June 30, 2000, revenues totaled $36.7 million, up 137 percent from last year’s $15.5 million. Excluding the amortization of goodwill and purchased intangible assets and other compensation costs, pro forma net income for the quarter increased to $4.4 million, up from $821,000 for second-quarter 1999. “Sales were strong for all of our product lines, particularly from customers with critical transaction-oriented systems that require around-the-clock availability and predictable response times,” says Vincent C. Smith, Quest chairman and CEO. In addition, Quest Software is acquiring privately held FastLane Technologies Inc. The transaction, valued at approximately $100 million, consisting of cash and stock, should be completed in late July or early August. FastLane will operate as a separate division of Quest Software, led by Jan Kaminski, FastLane president. Quest Software solutions for SQL Server include SQL Navigator for SQL Server, Schema Xpress, Foglight, and Spotlight on SQL Server.

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