couple days ago(?), an analyst on CNBC mentioned a few sectors to watch for the coming year...
B2B and broadband (duhhhh! on both), and outsourcing (double duuhhhhh!, as this has been the theme for the entire 90's);;;still, good to hear the affirmation.
one stock that has yet to hit the radar is PKSI...in the outsourcing business with a beautiful list of clients...
We've seen it on our watchlist when trading at low 20's, I believe, and earnings just released with great numbers...
lockup expiry takes place in Jaunuary, please confirm, with very low float...
as always, your dd...
Primus Reports Results for the Quarter Ended
September 30, 1999
Third Quarter License Revenues up 211% from Prior Year
SEATTLE--(BUSINESS WIRE)--Oct. 26, 1999--Primus (Nasdaq:PKSI - news), today announced results for the third
quarter ended September 30, 1999.
Net revenues for the third quarter were $6.3 million, compared with $2.2 million for the same period last year, an increase of
186 percent. Net loss was $1.2 million or $.09 per share, compared with a net loss of $3.2 million or $.38 per share for the
third quarter of 1998.
Revenues from license fees for the third quarter of 1999 increased 211 percent over the comparable period of 1998 and
accounted for 70 and 64 percent of total revenues for the third quarters of 1999 and 1998, respectively. Revenues from
maintenance, support, consulting and other services increased 141 percent over the comparable period of the prior year.
Revenues for the first nine months of 1999 were $15.9 million compared with $5.4 million for the same period last year, an
increase of 194 percent. Net loss was $4.7 million or $.43 per share, compared with a net loss of $7.2 million or $.93 per
share for the first nine months of 1998.
''We are extremely pleased with this quarter's results,'' said Primus President and CEO, Michael A. Brochu. ''Our top-line
growth is a result of excellent execution and customers' increasing recognition of Primus' competitive advantages delivering
eService solutions. The unprecedented expansion of eBusiness presents critical business challenges for the dot.com pioneers, as
well as for the Global 2000, and the ability to deliver superior customer service on the Web will be the competitive advantage
needed to survive in this new economy. Primus' value-driven eService solution provides that advantage, and we have an
expanding customer base of industry leaders demonstrating this everyday.''
During this quarter Primus closed a record 19 transactions, including key contracts with COMPAQ, GTE Internetworking,
Lucent, Rockwell, SGI and Sprint. This quarter also included four international deals: CGU Life, KPN Telecom, Olympus
Optical and BMW. In addition, Softlab became a reseller of Primus eService software and related services for the EMEA
territories.
About Primus
Primus is a leading provider of eService software and services. The company's applications enable organizations to create,
capture, reuse and share knowledge worldwide. Primus customers include 3Com, 3M, Best Software, Inc., ClientLogic
Corporation, Compaq, EDS (formerly SHL/MCI Systemhouse), EMC Corporation, Entex, Ericsson Inc., Fujitsu Limited,
Marcam Solutions, Inc., Micron Electronics, Inc., Motorola, Network Associates, Origin Managed Services, QAD Inc.,
Simplex Time Recorder Co., SGI and Vanguard Cellular. All Primus products integrate easily with leading customer
relationship management applications, including those from Clarify, Onyx Software, Remedy, Siebel Systems and Vantive.
Based in Seattle, Washington, Primus has offices in Atlanta, Boston, Chicago, Dallas, Los Angeles, San Francisco and
Washington, D.C. Primus Solutions UK Ltd., a wholly owned subsidiary of Primus, has offices in London. Primus KK, a joint
venture with Trans Cosmos, Inc., markets and sells SolutionSeries products in Japan. For more information, contact Primus at
1601 Fifth Avenue, Suite 1900, Seattle, Washington, 98101; 206/292-1000; or visit the Primus Web site at www.primus.com.
Any statements contained in this press release that do not describe historical facts, such as the statements about the
customer-purchasing decisions, eBusiness, the Internet and demand for Primus' products may constitute forward-looking
statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any forward-looking statements
contained in this release are based on current expectations, are not guarantees of future performance, and are subject to a
number of risks and uncertainties.
Factors that could cause actual results to differ materially from current expectations include the following: fluctuations in
customer demand; the Company's ability to manage its growth; use of the Web as a delivery vehicle for customer support
solutions; risk resulting from new product introductions and customer acceptance of new products; rapid technological change
which characterizes the Company's markets; the risks associated with competition; continued growth in the use of the Internet;
the risks associated with international sales as the Company expands its markets; and the ability of the Company to compete
successfully in the future, as well as other risks identified in the Company's Securities and Exchange Commission filings,
including but not limited to those appearing in the Form 10Q for the quarter ended June 30, 1999 and under the caption ''Risk
Factors'' in the Company's Prospectus dated June 30, 1999.
Primus, Primus Solutions and SolutionSeries are trademarks, registered trademarks or service marks of Primus. Other products
and company names mentioned in this publication are the trademarks of their respective owners. |
