Anything Internet Announces Record Earnings
COLORADO SPRINGS, Colo.--(BUSINESS WIRE)--Sept. 22, 1999-- Anything Internet Corporation (OTC BB:ANYI - news) was pleased to announce today record results for fourth quarter earnings and for the 1999 fiscal year ending June 30, 1999.
Net sales for the fiscal year ending June 30, 1999 were $3,503,822, an increase of 433% over $657,988 for the same period a year ago. All of these sales were a result of sales generated through the Company's Internet storefronts www.AnythingPC.com, www.AnythingMAC.com and www.AnythingUNIX.com.
Gross profits for the fiscal year ending June 30, 1999 were $84,436. This represents an increase in gross profits of 89% over $44,666 for the same period a year ago. Gross profit margins declined from 6.8% of sales to 2.4% of sales as a result of increased competition among Internet retailers of computers, software and peripheral devices.
The net loss for the fiscal year ending June 30, 1999 amounted to ($591,688), or ($0.24) a share. This represents and increase of 2,290% compared to ($24,762), or ($4.27) a share, for the same period a year ago. The increase in net loss was the result of lower gross profit margins and increases cost of operations from expansion activities. There were 3,074,400 shares issued and outstanding as of June 30, 1999.
Three Months Ending Fiscal Year Ending
6/30/99 6/30/98 6/30/99 6/30/98
Sales $ 1,107 $ 559 $3,503,822 $ 657,988
Cost of Sales 1,106 520 3,419,386 613,322
Gross Profit $ 1 $ 39 84,436 44,666
Operating Expenses 186 43 672,293 69,428
Net Loss ($202) ( 11) (591,688) (24,762)
Earnings Per Share(EPS) ($0.08) ($1.95) (0.24) (4.27)
Weighted shares used in
Calculations 2,458,533 5,800 2,458,533 5,800
J. Scott Sitra, Anything Internet's President and CEO, stated, ''We had a record year in 1999. We are extremely excited about the progress we made last year and are looking forward to the current fiscal year. During the fiscal year we noted a significant increase in our repeat business-to-business sales. It is this repeat business that will propel us into even higher sales this year and, ultimately, consistent profitability.''
A telephone conference call to review fourth quarter and year-end results will take place at 10 AM EDT on Thursday, Sept. 23, 1999. All interested parties are encouraged to participate. The conference number is 415/537-1825 and the call will be co-hosted by J. Scott Sitra, Anything Internet's President and Chief Executive Officer, and Robert C. Schick, Anything Internet's Chief Technology Officer.
On Sept. 23, just prior to the scheduled time, please dial the telephone number and ask to be connected with the Anything Internet conference call.
Anything Internet Corporation, headquartered in Colorado Springs, Colorado with a business-to-business sales and support office in Tampa, Florida, is a publicly held Internet e-commerce holding company. Through its wholly-owned subsidiaries, Anything Internet operates Internet storefronts www.AnythingPC.com, www.AnythingMAC.com, www.AnythingUNIX.com, www.anyCOFFEE.com, and www.AnythingBOOKS.com where it sells over 201,000 different computer hardware, software and peripheral products, more than 200 different specialty coffees and one of the largest selections of books, magazines and music available. Anything Internet's e-commerce enabling technologies provide its customers with exceptional product choices, superior pricing and delivery options, and easy-to-use search and purchase capabilities.
The Private Securities Litigation Reform Act of 1995 provides a ''safe harbor'' for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by Anything Internet Corporation) contains statements that are forward-looking, such as statements relating to the future anticipated direction of the high technology industry, plans for future expansion, various business development activities, planed capital expenditures, future funding sources, anticipated sales growth and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of Anything Internet Corporation. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, domestic and global economic conditions, changes in federal or state tax laws, and market competition factors.
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Contact:
Integrity Capital
Paula Kane, 877/318-1819
paula@integritycapital.net
www.integritycapital.net |
