Earnings are out and pretty good...
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CAMBRIDGE, Mass., Oct. 19 /PRNewswire/ -- ON Technology Corporation
(Nasdaq: ONTC -
news) today announced revenues and earnings for its third quarter ended
September 30, 1999.
During the quarter, the Company recorded total revenues of $8.3 million, a 58
percent increase
over the revenues of $5.3 million reported for the third quarter of 1998. Net loss
for the quarter
was $281 thousand or ($0.02) per share ``as reported' and $180 thousand or
($0.01) per share
``fully taxed'. This represents a 78 percent improvement over the ``as reported'
loss of $1.3
million or ($0.10) per share and the ``fully taxed' loss of $800 thousand or
($0.06) per share
reported for the third quarter of 1998.
Sales of the Company's flagship ON Command CCM product achieved record
revenues of $6.1
million, an increase of 114 percent over the $2.9 million recorded in the third
quarter of 1998.
During the quarter the company signed 39 new accounts for ON Command CCM
including: The
Goodyear Tire and Rubber Company (NYSE: GT - news), Asante Health
Systems, State of
Michigan, State of Pennsylvania and the Norwegian Army. ON also continued to
expand its
relationships with leading IT outsourcing companies, booking orders from Wang
Global/Getronics, EDS, Hewlett Packard GmbH, and Sun Microsystems GmbH.
``We're pleased with the market momentum demonstrated by our third quarter
results,' said
Herman DeLatte, ON's president and CEO. ``Major customers and IT
outsourcers are
discovering the value of our technology in deploying strategic applications such
as SAP, and
significantly enhancing the quality of service delivered by IT organizations.'
Highlights of ON's third quarter included the following:
A report by analyst research firm The Meta Group described ON Command
CCM as ``the
best current remote boot server solution' and ON Technology as ``the only
vendor to put
together a string of real G2000 success stories (e.g., Deutsche Telekom, MCI
WorldCom).'
ON launched ON Command CCM V4.5, the only integrated solution for
unattended
management of desktop, mobile and Internet-connected PCs. The new offering
allows IT to
consistently manage all of their PCs including the rapidly growing mobile and
telecommuter
segment.
ON continued to demonstrate new applications for its comprehensive
configuration
management technology. The Goodyear Tire and Rubber Company is using ON
Command
CCM to deploy a complex and strategic application -- the SAP enterprise
resource planning
system-- to its North America Tire business unit, as well as to centrally manage
PC
configurations on a continuous basis.
ON's customers continue to attest to the increased competitive advantage and
enhanced
quality of service achieved using ON Command CCM. As noted in a recent case
study by
Intel Corporation, AutoNation was able to quickly roll out new PCs, NetPCs
and laptops to
2,000 corporate users using ON Command CCM. According to AutoNation, the
ON
Command CCM/Intel Wired for Management combination so streamlined the
new system
configuration and setup process that the company recouped its investment in
CCM by the
time the rollout was complete.
ON entered into a technology development partnership with Computer
Associates
International Inc. (NYSE: CA - news) that provides integration of ON Command
CCM with
CA's Unicenter TNG©. About ON Technology Corporation |
