B: IIJ 2Q REVENUE TO BE ABOVE EXPECTATIONS; FOREIGN EXCHANGE LOSS ALSO EXPECTED
TOKYO and NEW YORK, Oct 14, 1999 /PRNewswire via COMTEX/ -- Internet
Initiative Japan Inc. (Nasdaq: IIJI) ("IIJ"), one of Japan's leading
Internet-access and Internet-related services provider, today announced
that it expects revenues to exceed its expectations for the second
quarter ending September 30, 1999. Due to an unfavorable effect caused
by an unexpected appreciation of Japanese Yen, however, IIJ expects to
report a foreign exchange loss of approximately JPY1 billion for the
second quarter.
Prior to its scheduled announcement of its 2Q results on November 15th,
IIJ today announced that it expects revenues for 2Q99 to exceed its
expectations due primarily to revenues generated by the early
completion of one of IIJ's major systems integration projects for 1999.
In its total revenues for 2Q99, IIJ now expects that
quarter-over-quarter (from 1Q99 to 2Q99) growth to be approximately
20%, and year-over-year (from 2Q98 to 2Q99) growth to be approximately
100% as compared to previously expected year-over-year growth of
approximately 50%. IIJ believes this is a one-time effect, and expects
revenue for 3Q99 to be lower than 2Q99.
IIJ also expects to report a foreign exchange loss of approximately
JPY1 billion for 2Q99. Such loss is attributable to an unfavorable
effect caused by an unexpected appreciation of Japanese Yen to US
dollar denominated monetary assets, which represents proceeds from
IIJ's initial public offering in August 1999.
Company Description Founded in 1992, IIJ offers a comprehensive range
of Internet access services and Internet-related services to customers,
including corporations and other Internet service providers in Japan.
IIJ offers its services via one of the largest Internet network
backbones in Japan as well as between Japan and the United States.
Corporate Headquarters: Takebashi Yasuda Bldg., 3-13, Kanda
Nishiki-cho, Chiyoda-ku, Tokyo 101-0054, Japan. iij.ad.jp
The Statements included in this press release that are not historical
in nature, are "forward-looking statements" within the meaning of the
"safe harbor" provisions of the Private Securities Litigation Reform
Act of 1995. The Company cautions readers that forward-looking
statements are based on IIJ's current expectations and involve a number
of risks and uncertainties. Actual results may differ materially from
those contained in such forward-looking statements. Information as to
those factors that could cause actual results to vary can be found in
IIJ's Initial Public Offering Registration Statement filed with the
United States Securities and Exchange Commission on July 13, 1999, as
amended, or Risk Factors section of the Offering Prospectus.
SOURCE Internet Initiative Japan Inc.
(C) 1999 PR Newswire. All rights reserved.
prnewswire.com
-0-
CONTACT: in Japan - Junko Higasa, Investor Relations/Media Relations of
Internet Initiative Japan Inc., ir@iij.ad.jp, 81-3-5259-6500;
in United States
- Mami Ogawa, Investor Relations, 212-701-1824,
mami.ogawa@thomsonir.com, or
Jacqueline Franchetti, Media Relations, 212-701-1949,
jacqueline.franchetti@thomsonir.com, both of Thomson Financial
Investor
Relations, for Internet Initiative Japan
WEB PAGE: iij.ad.jp
GEOGRAPHY: Japan
New York
INDUSTRY CODE: CPR
SUBJECT CODE: ERP
*** end of story *** |
