November 01, 1999 16:09
Harbinger Announces Key 2000 Growth Initiatives and Financial Goals for E-Commerce Lines of Business
ATLANTA--(BUSINESS WIRE)--Nov. 1, 1999--Harbinger Corporation (NASDAQ:HRBC), a worldwide supplier of Electronic Commerce software, services and solutions, announced today its objectives for 2000 and financial goals for key E-Commerce lines of business. Given extraordinary one-time market opportunities projected for 2000, Harbinger has identified four key priorities for next year, including (1) increasing the Company's market awareness as the leading business-to-business E-Commerce solutions provider, (2) capitalizing on harbinger.net(SM)'s position as the leading portal for mission-critical business-to-business E-Commerce, (3) completing the conversion of the Company's 40,000 customers to IP-based connectivity, and (4) maintaining operational excellence throughout Harbinger.
The Company further identified four lines of business targeted for high revenue growth. First, Harbinger's emerging Application Service Provider (ASP) business provides customers with access to software, connectivity and support services on a subscription basis. Second, Business Community Integration (BCI) provides larger companies with E-Commerce enablement and community management services. Third, Harbinger's Vertical Market Portal and Electronic Marketplace Hosting provides entire trading communities with E-Commerce infrastructure and back-office support. And, fourth, Outsourcing, an area where Harbinger has experienced more than 100 percent growth over the past 12 months, brings customers a complete line of implementation services. Further discussion of these lines of business can be found in a letter to Shareholders posted in the Investor Relations section of the corporate Web site at www.harbinger.com.
Of these activities, Harbinger expects strong overall revenue growth in 2000, including 1500 percent for its ASP line of business (from an estimated $1 million in 1999 to $15 million for 2000), 1000 percent for BCI services (from an estimated $0.5 million in 1999 to $5 million in 2000), 500 percent for Vertical Market Portal and Electronic Marketplace Hosting (from an estimated $1 million in 1999 to $5 million in 2000), and 85 percent for the Company's E-Commerce Outsourcing line of business (from $9.5 million to $17 million in 2000). The Company also expects overall growth in its other lines of business during 2000.
"The year 2000 will likely be the most important ever for business-to-business E-Commerce," said C. Tycho Howle, Harbinger Chairman and Chief Executive Officer. "It's imperative that our
company is focused on the critical activities which will position us to be successful in 2000 and thereafter. We believe we have identified the key growth areas for our company going forward, and we have set aggressive objectives for ourselves to capitalize on these new opportunities. The financial goals for growth we have put in place are based upon our assessment of the marketplace opportunity at this time. While we are comfortable with our assessment of where these opportunities will lie, we must execute very well over the coming months to reach these goals. We believe we can do so."
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