SEDONA Corporation Reports Third Quarter and Nine Months Performance; Teleconference to be Held on Tuesday, Nov. 16th at 4:15 PM-EST
LIMERICK, Pa.--(BUSINESS WIRE)--Nov. 15, 1999--SEDONA Corporation (Nasdaq:SDNA) announced today its results of operations for the third quarter and nine month periods ended September 30, 1999. The following financial data reflect the sale of the two divisions of the Company, announced earlier, which were not a part of its core strategy of focusing on the development and marketing of Internet-based application solutions to enable marketing and sales organizations to more quickly and precisely identify and visualize new market opportunities and improve sales results.
The Company reported revenues from continuing operations of $222,000 for the nine months ended September 30, 1999, as compared to $14,000 a year ago. The loss from continuing operations for the nine months ended September 30, 1999 was $2,181,000 or $0.13 per share as compared to a loss of $3,045,000 or $0.19 per share for the nine months ended September 30, 1998. Including the discontinued operations, the loss was $5,700,000 or $0.27 per share in the nine months ended September 30, 1999 versus $5,095,000 or $0.27 for the same period a year ago.
Marco Emrich, President and CEO of SEDONA, said that, "The 1999 results to date do not in any way reflect the tremendous potential that we have, after this week's launch of Visual CRM at Oracle OpenWorld'99, to capitalize on the impressive growth and momentum of the Customer Relationship Management market."
SEDONA's Visual CRM enables marketing and sales organizations, which implement Oracle CRM 3i, and the upcoming Oracle CRM 11i to perform real-time visual profiling of prospect and customer information using the power of the Internet.
Mr. Emrich went on to say, "With Visual CRM seamlessly integrated with Oracle CRM suite, SEDONA will be able to offer the 450 worldwide companies using its current version, as well as future Oracle CRM 11i customers a powerful solution to optimize their return on customer relationships by greatly enhancing customer acquisition and intimacy, and by maximizing customer satisfaction and retention." |
