TechWeb

Crystal Decisions Signals Its IPO

May 28, 2003 (02:05 PM EDT)

Read the Original Article at http://www.informationweek.com/news/showArticle.jhtml?articleID=10100394


Business-intelligence software vendor Crystal Decisions Inc. has signaled its intention to go public by filing an S-1 registration statement with the Securities and Exchange Commission. But company executives say there's no specific timetable for the initial public offering, only that the IPO will be issued when market conditions permit. The company plans to be listed on the Nasdaq exchange.

Crystal Decisions markets a line of query-and-reporting and data-analysis software that it sells directly as well as through business partners such as SAP and Microsoft. There is an installed base of 14 million licenses.

Crystal Decisions recorded sales of $217.2 million in fiscal 2002, ended June 28. The company has maintained its momentum: It reported 30% year-over-year sales growth for its third quarter ended April 28--its 11th consecutive quarter of revenue growth. The privately held company does not disclose earnings.

Founded in 1984, Crystal Decisions was acquired by hard-drive manufacturer Seagate Technology Inc. in 1996 and renamed Seagate Software. But Seagate itself was taken private in 2000 and Crystal Decisions' name was restored in 2001.