ConnectInc.com Announces Second Quarter Results
MOUNTAIN VIEW, Calif., July 22 /PRNewswire/ -- ConnectInc.com (Nasdaq: CNKT - news) a leading provider of electronic commerce software, today announced results for its second quarter ended June 30,1999. For the three months ended June 30, 1999, revenue was $1,228,000,compared to revenue of $1,688,000 for the three months ended June 30, 1998, a decrease of 27%. Net loss for the three months ended June 30, 1999 was $728,000 or $.05 per share compared to a net loss of $1,928,000 or $.15 per share for the comparable period in 1998, an improvement of
62%.
For the six months ended June 30, 1999, revenue was $3,254,000 compared to revenue of $3,940,000 for the six months ended June 30, 1998, a decrease of 17%. Net loss for the six months ended June 30, 1999 was $454,000 compared to a net loss of $4,878,000 for the comparable period in 1998, an improvement of 91%.
Craig Norris, ConnectInc.com's President and CEO said, ''This quarter was a significant transition quarter for us, as we began shipment of the company's flagship MarketStream(TM) 2.0 solution,which brings together the technology platform and application software for buyers and sellers in the emerging business to business net marketmaker communities, who interact and carry out e-business on the Internet. Our first site on the platform, NextMonet.com, a leading e-commerce art company, went into production in June, on schedule, and is proving to meet our expectations of this new technology solution.
Norris continued, ''We significantly increased our investment in sales and marketing and our core technology during the quarter and we expect to see results from that in future periods. Our software is receiving an excellent reception by existing and new customers. This quarter we signed four new domestic customers. We also signed a major international customer, whose revenue was not included in 2nd quarter results, but will be recognized over the next four quarters. In addition, we anticipate that a number of our existing customers will be upgrading to MarketStream(TM) 2.0. Our sales pipeline is the strongest it has been since I became CEO last year. With our MarketStream(TM) 2.0 offering, we believe we are solidly positioned to serve the emerging business to business net marketmaker segment. As this sector gains momentum, we believe our software is a strong contender to power these sites and get them from a standing start to production very quickly.''
Well...don't see any pop coming during the upcoming months with numbers like this, although the next quarter is shaping up to be a LOT better according to this.
chris |
