Angoss third quarter results
Angoss Software Corporation ANC
Shares issued 35,438,763 Sep 22 close $0.15
Thu 23 Sept 99 News Release
Mr. Lon Vining reports
Angoss Software, developer of the industry leading data mining solutions
KnowledgeSEEKER, KnowledgeSTUDIO, KnowledgeExcelerator and KnowledgeAccess,
reported a fourth consecutive quarterly operating profit and a 59-per-cent
growth in third quarter revenues over the same period in 1998. For the nine
months ended Aug. 31, 1999, revenues increased by 24 per cent over the same
period in 1998. Operating profits were $231,000 compared with operating
losses of $387,766 in 1998.
Results are as follows:
CONSOLIDATED STATEMENT OF OPERATIONS
Three months ended Aug 31
1999 1998
Revenues $864,218 $543,895
Operating expenses 627,242 673,913
Operating profit
(loss) 184,363 (188,569)
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Net profit (loss) $ 52,635 ($355,445)
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Per share amount - (1 cent)
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CONSOLIDATED STATEMENT OF OPERATIONS
Nine months ended Aug 31
1999 1998
Revenues $2,275,257 $1,828,737
Operating
expenses 1,907,237 2,005,222
Operating profit
(loss) 231,000 (387,766)
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Net profit (loss) $ 128,920 ($ 969,316)
========== ==========
Per share amount - (3 cents)
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"These results, achieved in what has traditionally been the slowest quarter
for Angoss, reinforce the message we have been communicating to industry
analysts and others in the data mining market. They are also consistent
with the recent ranking we have received as the leading pure play data
mining solution vendor in the world," commented Angoss president Eric Apps.
"Our record of innovation and technology leadership in the industry is well
known. We are continuing to gain market share and attract new users."
The release candidate of KnowledgeSTUDIO, version 2.0.2, is currently
shipping to beta customers and is expected to be the sign-off release
version for delivery to database partner Whitecross Data Explorations.
Whitecross has announced the commercial availability this fall of its
KnowledgeSTUDIO/HeatSEEKER bundled solution -- branded ExplorationSTUDIO.
The Whitecross solution is particularly well suited to high volume, data
exploration and data mining, including telecom, Web and on-line e-business
environments. Under its licensing agreement with Angoss, Whitecross will be
shipping ExplorationSTUDIO with each HeatSEEKER installation. Angoss will
receive royalties based on Whitecross revenues generated from product
sales.
Angoss also reported that downloads and feedback from beta users testing
KnowledgeExcelerator and KnowledgeAccess, the Angoss developed data mining
add-ins for Excel and Access, the widely used spreadsheet and database
applications of Microsoft Corporation, have been quite positive. These
products are scheduled to be commercially available Oct. 20, 1999, and will
be formally launched at the Direct Marketing Association international
convention in Toronto, Canada.
KnowledgeExcelerator and KnowledgeAccess will be targeted and priced to
reach a new and broader audience of business users, and will be marketed
and sold through e-commerce channels via the Internet. Licensing revenues
derived from product sales will be allocated primarily to additional
marketing of these products. Pricing and availability will be announced in
October, 1999. Angoss will also be showcasing its entire application suite
as a member of Microsoft's Partners Pavilion at the Financial Technology
Expo and World Conference in November, 1999, in New York City.
During the quarter Angoss also continued to improve its balance sheet.
Convertible debt was either repaid or converted into common shares of the
company. After giving effect to all debt conversion during the 1999 fiscal
year there are currently 37,088,763 common shares issued and outstanding.
Approximately 19.6 per cent of these shares are held by directors,
officers, employees and their associates -- up from less than 5 per cent in
1998.
Third quarter transactions were concluded with Allstate Insurance, American
Express, American Horizon Insurance, Americredit, Ameritrade, Bank of
America, Bell Actimedia, Bell Canada, Burnett Direct, Canadian Automobile
Insurance, CINTAS, Citibank, Dayton Hudson Corporation, Duke Power, EDS,
FIC, Firemen's Fund, First Manhattan Consulting Group, First National Bank
of Marin, First USA Bank, GE Capital, General Electric, GMAC, MBNA,
McKinsey & Co., MetLife, Nationwide Insurance, Pacific Bell, Paine Webber,
Pfizer, Providian, Royal Trustco, RR Donnelly, Sears Roebuck & Company,
Southern New England Telephone, Statistics Canada, The Associates, Time
Insurance, Ultramar Diamond Shamrock, and Wachovia.
"Although we will continue to pay close attention to cost containment, our
revenue growth has enabled us to start adding personnel in sales, services
and development areas. We also intend to commence new marketing initiatives
during the fourth quarter for the KnowledgeSUITE of products," commented
Lon Vining, Angoss chief financial officer. "Our goal in the fourth quarter
will be to continue to demonstrate revenue growth and profitability. Angoss
continues to expand its business and we are currently pursuing several
exciting opportunities with a number of customers and industry partners."
WARNING: The company relies upon litigation protection for
"forward-looking" documents. |
