Seagull flies in 2006

Seagull Software, provider of software products for connecting legacy applications to Internet architectures, today announced that it expects to report revenue in the range of $27 to $28 million for the financial year ended 30 April 2006, an increase of approximately 19% as compared to $23.4 million for the previous financial year.

On a pro forma basis net income for the year is expected to be approximately $100,000, as compared with a loss of $908,000 for the previous year. “Growth was our primary focus during fiscal year 2006 so we are extremely pleased with the strong growth that the company achieved in fiscal year 2006, and with our ability to generate pro forma profit for the year,” commented Don Addington, CEO / President of Seagull Software. On an International Accounting Standards basis, the company expects to report a net loss in the range of $900,000 to $1 million; including deferred stock compensation costs and amortization of intangible assets.

The company plans to publish final audited fourth quarter and annual results for the Financial Year ending 30 April 2006 on 22 June 2006.