(COMTEX) B: eVision Reports 78.7% Increase in Revenues
B: eVision Reports 78.7% Increase in Revenues
DENVER, Aug 4, 1999 (BUSINESS WIRE via COMTEX) -- eVision USA.Com,
Inc. (eVision or the Company) (OTC BB: EVIS) reported revenues for the
three months ended June 30, 1999 were $10,005,000, an increase of
$4,406,000 or 78.7% over revenues of the prior comparable period of $5,
599,000.
The increase is primarily attributable to increases in computer
hardware and software operations, interest income on investments and
unrealized gains on investments in trading securities. The net loss
reported for the three months ended June 30, 1999 was $114,000 or $0.01
per share compared to a net loss of $2,363,000 or $0.14 per share for
the comparable prior year period. After consideration of other
comprehensive income of $152,333 comprised from the Company's change in
its accounting classification of its Asian bond portfolio,
comprehensive income for the three months ended June 30, 1999was $39,
000. This other comprehensive income will be included in net income as
the bond portfolio is systematically sold.
For the nine months ended June 30, 1999, eVision reported revenues of
$28,186,000, an increase of $8,346,000 or 42.1% over revenues for the
comparable prior year period. The increase is primarily a result of
increases in commission income, trading profits, interest income on
investments and unrealized gains on investments in trading securities.
eVision reported a net loss of $1,050,000 or $0.06 per share for the
nine months ended June 30, 1999 compared to a net loss of $3,190,000 or
$0.21 per share for the comparable prior year period.
"We continue to see the effects of our expansion and development
efforts in our operating results. Our increase in revenues and decrease
in the net loss reflect significant improvements. Currently, the
majority of our revenues are derived from our broker/dealer operations.
We are extremely confident that once our other subsidiaries, eBanker
and eBroker, become fully operational, our operating results will be
even better than we have recently seen," said Mr. Fai H. Chan, Chairman
and Chief Executive Officer of the Company.
eVision is a Denver-based holding company with consolidated entities
that include American Fronteer Financial Corporation, a regional
securities broker/dealer, and eBanker USA.com, Inc. (eBanker) which
offers, among other things, Internet based high-yield lending
opportunities. Consolidated developing companies include eBroker
USA.Com, Inc. (eBroker), a proposed on-line securities brokerage
business. eVision has made a significant investment inQ6 Technologies,
Inc. (Q6 Technologies), a business venture surrounding technology-based
virtual processing arenas with John Cusick, former founder, chairman
and CEO of Primestar, as its chief executive officer.
The statements included in this press release concerning predictions of
economic performance and management's plans and objectives constitute
forward-looking statements made pursuant to the safe harbor provisions
of Section 21E of the Securities Exchange Act of 1934, as amended, and
Section 27A of the Securities Act of 1933, as amended. These statements
involve risks and uncertainties that could cause actual results to
differ materially from the forward-looking statements.
Copyright (C) 1999 Business Wire. All rights reserved.
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CONTACT: eVision USA.Com, Inc., Denver
Gary L. Cook, 303/860-1700
WEB PAGE: businesswire.com
GEOGRAPHY: COLORADO
INDUSTRY CODE: INTERACTIVE/MULTIMEDIA/INTERNET
COMED
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