Net Perceptions Reports Second Quarter Results; Revenue Up 184%, 8th Consecutive Quarter of Solid Revenue Growth
scott:
Hope it helps the damn stock for a change.
==================
MINNEAPOLIS, July 15 /PRNewswire/ -- Net Perceptions(TM), Inc. (Nasdaq: NETP - news), the leading supplier of real-time personalization solutions for electronic commerce, today announced record financial results for the second fiscal quarter ended June 30, 1999. Total revenues for the second quarter of 1999 were $2.8 million, an increase of 184% versus the same period last year, and up 48% from the previous quarter. The net loss for the quarter ended June 30, 1999 was approximately $3.1 million, compared to approximately $1.0 million for the same period in 1998. Diluted net loss per share was $0.17 for the quarter, compared to a net loss of $0.07 per share in the second quarter of 1998.
''This has been an exceptionally strong quarter for Net Perceptions. It reflects continued strong acceptance of our products in the market and a growing demand for real-time personalization solutions,'' said Steven Snyder, president and chief executive officer. ''As electronic commerce merchants strive to develop deeper, more profitable and long-lasting relationships with their customers, our technology and personalization solutions are a means through which they can accomplish these objectives.''
During the second quarter ended June 30, 1999, Net Perceptions continued to expand its client list, adding 26 new licensed customers, the largest number of customers Net Perceptions has ever signed in one quarter. Online businesses such as Lycos, Petsmart.com, The Children's Place, Musician's Friend and Mammoth Golf were added to the company's customer list, increasing the Net Perceptions customer base to more than 110 licensed accounts worldwide. ''The customer traction we gained this quarter continued to build on our market leadership position'' Snyder added, ''It's also exciting to see new categories of goods and services being offered on the Web -- increasing the opportunities for Net Perceptions to add value to a diverse set of e-commerce offerings. This quarter we added our first tier-1 portal site, and our first customer sites for pet care supplies, children's clothing, golf, and personnel placement -- all new areas for the application of our technology and personalization solutions.''
Net Perceptions expanded on its existing partnerships with Allaire, Broadvision, IBM, Oracle and Vignette, by adding several new partners. CommercialWare, a leading provider of call center order management and fulfillment software for catalog companies will enable Net Perceptions to more quickly expand in the call center market through a reseller relationship. Also joining us are system integrator US Interactive, a leading Internet professional services company, and platform players Art Technology Group and Open Market, leading providers of Internet commerce platforms. These new partners will broaden our customer reach and reduce deployment time and costs. |
