Bridges.com third-quarter results
Bridges.com Inc BIT
Shares issued 9,466,250 Sep 14 close $2.90
Tue 14 Sept 99 News Release
Mr. Doug Manning reports
The third quarter of 1999 was the most successful quarter to date for
Bridges.com, bringing in revenues of $1,704,249 during that time period.
This compares with $1,077,838 in the third quarter of 1998. For the first
nine months ended Aug. 31, 1999, Bridges.com Inc. reported revenues of
$3,804,442. This compares with $2,111,878 in the first nine months of 1998
and $3,014,145 in all of 1998. Earnings and earnings per share for the
third quarter will be presented in the interim report, which will be
completed later this month.
"Bridges is on track to achieve its revenue goals for 1999," said Doug
Manning, chief executive officer and president of Bridges.com. "Our selling
team is having very good success, particularly in the United States. The
marketplace is warming up to the purchase of Internet-based services. This
is proving to be a benefit for our company."
Bridges.com signs West Virginia regional agreement
Bridges.com will produce a regional version of CX Online for schools in
West Virginia, beginning this fall. The state has also commissioned the
company to provide a daily career news service. More than 50 per cent of
330 secondary schools in the state currently use CX. Kathy Boone, project
leader for the West Virginia Department of Education, said: "Given the
rural nature of West Virginia, not all students have access to a wide range
of career experiences. Bridges.com fills the gap by bringing the world of
work to every school wherever it is located." Doug Turton, Bridges.com's
regional sales manager for the state, added: "West Virginia is establishing
itself as a leader in the integration of on-line career information
services into middle and secondary schools. We'll likely see increased
usage of Career Explorer in West Virginia as a result of this initiative."
Three hundred sales in August, summer sales increase 46 per cent
Six hundred sixteen new site sales were recorded in June, July and August
of 1999, a 46-per-cent improvement over last summer's record sales quarter
of 420 sites. Resubscriptions were also strong in the quarter, with the
balance of resubscription revenue to be recognized in the fourth quarter.
Career Explorer is now used in 4,266 schools, representing 11.9 per cent of
the North American middle and secondary school market.
Innovative Pennsylvania pilot promotes CX use
The School-To-Work office in Pennsylvania will work with Bridges.com to
promote use of Career Explorer (CX) in at least 400 of the state's 1,200
middle and secondary schools. The Pennsylvania S-T-W team will endorse CX
and provide regional training for the 400 schools. In return, Bridges will
provide free access for a limited time period to authorized schools. "We
want more Pennsylvania schools to evaluate the service," said Mike Martin,
vice-president of sales and marketing for Bridges. "This initiative is a
unique new opportunity for us to work with a state agency to support use of
CX by increasing numbers of young career planners."
Bridges boosts sales staff
In support of Bridges.com's plan to more aggressively distribute Career
Explorer to North American middle and secondary schools, eight new sales
staff have joined the company. This boosts the number of internal sales
people from 10 to 18. Direct selling has proven to be the most effective
way to market CX to new subscribers -- sales revenue per internal seller
has increased in each of the last three years.
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