Will the good news ever end
Tuesday August 10, 1:20 pm Eastern Time
Company Press Release
SOURCE: Accent Software International
Accent Reports Second Quarter Financial Results; Global e-Business Solutions Building Momentum
COLORADO SPRINGS, Colo., Aug. 10 /PRNewswire/ -- Accent Software International (OTC Bulletin Board: ACNTF - news, ACNUF - news) announced today a 15% increase in revenue during the
second quarter of 1999 by showing sales of $540,000, up from $471,000 in the previous quarter. Revenues were up 10% from the $490,000 posted in the same quarter of 1998.
Substantial improvement in the net operating loss was also apparent during the quarter ended June 30, 1999, showing a net loss of
$327,000 ($0.01 per share) a 28% improvement over the first quarter and a 78% improvement from the year earlier quarterly loss of $1,464,000 ($0.05 per share).
For the six month period ended June 30, 1999, the company's net operating loss was $782,000, $0.03 per share, on revenue of $1,011,000. This is a 76% improvement from the first six months of
1998 that showed a net loss of $3,306,000, $0.14 per share, on revenue of $1,195,000.
''We are improving both the top and bottom line,'' says Todd Oseth, Accent's president and CEO. ''The Internet is creating growing demand around the world from large markets of consumers never
before accessible to corporations. As these companies choose to bring their products and services to new consumers worldwide, Accent is the only company offering complete global e-business
solutions. Demand for our e-business solutions should increase as the global market expands.''
CONSOLIDATED STATEMENTS OF OPERATIONS
U.S. dollars and shares in thousands (except per share information)
Three months ended Six months ended
June 30, June 30,
1999 1998 1999 1998
(Unaudited)(Unaudited)(Unaudited)(Unaudited)
Net sales $540 $490 $ 1,011 $ 1,195
Operating costs and expenses
Cost of sales 305 170 548 375
Product development costs 33 718 54 1,843
Marketing expenses 148 331 278 789
General and administrative
expenses 384 689 889 1,403
Total operating costs and
expenses 870 1,908 1,769 4,410
Operating loss (330) (1,418) (758) (3,215)
Other Income (Expense) 3 (46) (24) (91)
Net loss before extraordinary
item (327) (1,464) (782) (3,306)
Extraordinary gain from
debt extinguishment
(less income taxes of $0) -- -- 1,117 --
Net income (loss) $(327) $(1,464) $335 $(3,306)
Net income (loss) per share:
Before extraordinary gain $ (0.01) $ (0.05) $ (0.03) $ (0.14)
Extraordinary gain -- -- 0.04 --
Net income (loss) per share $ (0.01) $ (0.05) $0.01 $ (0.14)
Weighted average number of
shares outstanding 29,292 27,620 29,292 24,127
Portions of this press release contain historical information and forward- looking statements. Statements looking forward in time are included pursuant to the ''safe harbor'' provision of the Private Securities Litigation Reform Act of 1995. Such statements involve known and unknown risks and the Company's actual results in future periods may be materially different from any future performance suggested herein.
About Accent Software International: Accent Software International, founded in 1988, is an Internet company that provides software products and services that help internationalize software and media in any language. Accent's current products and services are enabling the Internet with media that facilitate global communication. For additional information visit the company's Web sites at: accentsoft.com and languageware.net.
SOURCE: Accent Software International |
