Plenum/LION Announces 125% Increase in Second Quarter Revenue
/FROM PR NEWSWIRE SAN FRANCISCO 415-543-7800/
TO BUSINESS, TECHNOLOGY, AND REAL ESTATE EDITORS:
Plenum/LION Announces 125% Increase in Second Quarter Revenue
SEATTLE, July 15 /PRNewswire/ -- Lenders Interactive Online Network
(LION), a wholly owned subsidiary of Plenum Communications, Inc.
(OTC Bulletin Board: PLNM), the leading creator of Internet tools for the
mortgage industry, announced today that revenue for the second quarter ended
June 30, 1999 increased 125% to a record $953,000. This compares to revenue
of $424,000 for the second quarter ended June 30, 1998.
For the six months ended June 30, 1999, revenue increased 121% to
$1,663,000. This compares to revenue of $754,000 for the six months ended
June 30, 1998.
Sam Ringer, President/CEO of LION stated, "LION has been busy building a
fast-growing Internet company. Over the last three years, our revenues have
consistently doubled. It is gratifying to see these results as we continue to
rapidly build company infrastructure and enhance our product line. Our goal
is to help the mortgage broker succeed. The recent IMark acquisition closed
in mid-May 1999 helps mortgage brokers capture more business from the
fastest-growing segment in the market -- the Internet channel."
This press release includes statements that may constitute
"forward-looking" statements. These statements are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements inherently involve risks and uncertainties that
could cause actual results to differ materially from the forward-looking
statements. Factors that would cause or contribute to such differences
include, but are not limited to, continued acceptance of the Company's
products in the marketplace, competitive factors, and other risks
detailed in the Company's periodic report filings with the Securities and
Exchange Commission. By making these forward-looking statements, the Company
undertakes no obligation to update these statements for revisions or changes
after the date of this release.
SOURCE Lenders Interactive Online Network
/CONTACT: Sam Ringer, President/CEO of LION, 800-546-6463; or DavidCharnock,
Stockholder Relations of Plenum, 888-541-5466/
/Web site: plenum.net
Jul-15-1999 14:32 GMT
Symbols:
US;PLNM
Source PRN PR NewsWire
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