Axion Announces Strong Second Quarter, YTD Results
EDMONTON, Alberta – (Business Wire) –July 10, 2000-- Axion Spatial Imaging Inc. (Pink Sheets: AXON), a leader in geographical data storage and retrieval technology today announced results for the second quarter of 2000, as well as results for the year to date (June 30, 2000).
Axion sales in the second quarter totaled $261,844, virtually equaling first quarter performance of $289,486, for a first-half total of $551,330. Of this, over 10% was in the form of royalties.
Second quarter 2000 results were up 382% from the second quarter of 1999 ($68,492), and revenues to date in 2000 are up 274% compared to first-half revenues for 1999 ($201,136).
July, August and September are traditionally considered to be ‘slow’ months in the Information Technology sector, but in looking ahead to the third quarter, Axion is expecting contract revenues to approach $355,000.
Axion also announced that 794,595 shares were returned to the company treasury during the second quarter, as a result of the conclusion of a private placement arrangement in April 2000, in which the investor elected not to continue funding arrangements. Axion subsequently issued 600,000 of these shares in the private placement arrangement to raise $60,000 in May 2000. The Company has a total of 13,677,374 shares issued and outstanding.
Except for the historical information presented herein, the matters set forth in this press release are forward looking statements within the meaning of the ``safe-harbor'' provision of the Private Securities Litigation reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially. These forward-looking statements speak only as of the date hereof. The Company disclaims any intent or obligation to update these forward-looking statements. Axion Spatial Imaging is a registered trademark of Axion Spatial Imaging, Inc. All other names and trademarks mentioned above are held by their respective owners and hereby acknowledged.
For further information, contact:
Markus Lemke
CEO, Axion Spatial Imaging Inc.
Ph. (403) 270-3132/Fax:(780) 423-4468
Email: markusl@axionspatial.com
www.axionspatial.com |
