LION Inc./Lioninc.com Announces Record Fourth Quarter and Year-End Results
Fourth Quarter 99 Revenues Up 140% vs. Fourth Quarter 98
SEATTLE, Jan. 18 /PRNewswire/ -- LION Inc. (OTC Bulletin Board: LINC - news), the parent company of Lioninc.com, today announced the revenue results for the fourth quarter ended December 31, 1999.
Revenues for the fourth quarter of 1999 were $1,404,000, up 140 percent from $585,000 in the fourth quarter of 1998. For the year ended December 31, 1999, revenues were $4,241,000, up 128 percent from $1,856,000 for the year ended December 31, 1998.
The year-to-date revenue increases came primarily from the company's LION-Pro, LIONChoice and LION AU services. Providing mortgage brokers with information on more than 18,000 loan programs, LION-Pro accounted for 46 percent of the revenue. LIONChoice, the company's web site development and hosting service, generated 35 percent. While 16 percent came from Lioninc.com's automated underwriting service, LION AU.
``I am pleased with our performance over the last year,' said Sam Ringer, president of Lioninc.com. ``Our growth strategy combined with our commitment to customer service, enabled us to strengthen our position as one of the leading E-mortgage portals.'
About LION and Lioninc.com
LION is a pioneer provider of online business-to-business products and services since 1995. It has emerged as a premier provider of cutting-edge Internet products for the over $1 trillion mortgage industry. Lioninc.com brings together borrowers, real estate companies, mortgage brokers, mortgage lenders and financial institutions in order to facilitate home loans in a quick, easy and efficient manner.
Lioninc.com's headquarters is located at 2201 Lind Ave. SW, Renton, WA 98055. Telephone: 800-546-6463. Fax: 425-902-4141. For more information, visit the company web sites at www.lioninc.com and www.lionchoice.com. For more information on LION, Inc. (formerly Plenum Communications) visit www.lioncorp.net.
Actual results will vary because of factors such as: mortgage market trends, interest rate changes, housing/consumer trends effecting home purchases, internet competition, risks of system interruption, management of potential growth, risks of new business areas, new internet technology, joint-marketing and sales agreements, strategic alliances and other issues discussed in the company's Form 10-KSB and 10-QSB reports which are on file with the Securities and Exchange Commission. |
