Earnings Out today... (beat estimates at least)
biz.yahoo.com
Tuesday April 20, 4:08 pm Eastern Time
Company Press Release
SOURCE: ON Technology Corporation
ON Technology Announces Record Revenues for
Flagship Product on Command CCM
CAMBRIDGE, Mass., April 20 /PRNewswire/ -- ON Technology Corporation (Nasdaq: ONTC - news) today announced
revenues and earnings for its first quarter ended March 31, 1999. Revenues for the first quarter were $6,850,000, an increase
of 60% over revenues of $4,175,000 reported for the quarter ended March 31, 1998. Net loss for the quarter was
($741,000) or ($0.06) per share ''as reported'', ($474,000) or ($0.04) per share ''fully taxed''. Net loss for the same period
last year was ($2,181,000) or ($0.18) per share, after adjusting for the gain on the sale of assets to Elron Software, Inc. Net
income for Q1 1998 was $4,337,000 or $0.35 per share, when including the proceeds from the Elron transaction.
ON Command CCM revenue increased 251% to $5,378,000 from $2,137,000 when compared to the same quarter last year,
posting the seventh quarter in a row of increasing direct revenues for the Company's strategic product, clearly outperforming
the market growth estimates of industry analysts for the desktop management market.
During the past six months, the Company has opened three additional sales offices in the US and six in Europe. These offices
are strategically located to continue providing coverage for all major business centers on both continents. In addition, the launch
of ON's ''Value Added Reseller Program'' has increased the Company's channel exposure. Resellers such as Klein
Technologies, Inc. have expanded ON Command CCM into new market verticals, specifically the military and federal
government. These efforts, coupled with the development of ''out of box'' solutions, like Volume II of our Year 2000 Jumpstart
CD, allow an increasing base of customers to realize the benefits of ON Command CCM.
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