Thursday November 4, 4:34 pm Eastern Time
Company Press Release
SOURCE: Viador Inc.
Viador Announces Record Quarterly Revenue Of $2.66 Million
SAN MATEO, Calif., Nov. 4 /PRNewswire/ -- Viador Inc. (Nasdaq: VIAD - news), a provider of enterprise portal solutions, today announced record revenue for its third quarter ended September 30, 1999.
Revenue for the third quarter of 1999 marked the largest quarter in Viador's history at $2.66 million, up 298 percent from the third quarter of 1998. Net loss for the quarter excluding amortization of stock-based compensation was $3.19 million or $.68 per share. During the corresponding quarter in 1998, net loss excluding amortization of stock-based compensation was $1.92 million or $.54 per share. Including amortization of stock-based compensation, net loss for the third quarter of 1999 was $3.55 million or $.76 per share compared to net loss for the same period last year of $2.08 million or $.59 per share.
Revenue for the first nine months of 1999 was $5.95 million, up 146 percent versus $2.42 million in the same period last year. Net loss excluding amortization of stock-based compensation was $7.92 million or $1.84 per share for the first nine months of 1999 compared to net loss excluding amortization of stock-based compensation of $4.10 million or $1.24 per share in the corresponding period of 1998. Including amortization of stock-based compensation, net loss for the nine month period was $8.81 million or $2.04 per share in 1999 compared to $4.35 million or $1.32 per share in 1998.
``We are quite pleased with our accomplishments for the third quarter of 1999,' said Stan Wang, president and chief executive officer of Viador. ``Revenue increased significantly, we added a highly regarded professional to our board of directors, announced that two key individuals joined our management team, grew our direct sales force, and signed agreements with a number of new resellers and technology partners. Demonstrated successes such as these throughout our history has already resulted in a customer base comprised of some of the largest and best known companies around.'
The following highlights were announced during Viador's third quarter of 1999:
-- Informatica Corporation and Viador Inc., software vendors in enterprise
information access, announced a joint partnership to develop a single,
end-to-end, Web-based architecture to provide global businesses with
access to critical enterprise data assets. The jointly developed
solution, which initially will be targeted at emerging e-business
applications, will feature the leading products from each company for
integrating and accessing enterprise data.
-- Viador announced the addition of Dawn Lepore, vice chairman and chief
information officer of The Charles Schwab Corporation, to its Board of
Directors. The sophisticated understanding of enterprise
information technology Ms. Lepore brings to Viador, coupled with her
industry vision and expertise, will help guide the company as it
continues to develop and deliver solutions for the enterprise
information portal market.
-- OnDisplay, a leading provider of enterprise software for powering
e-business portals, and Viador Inc. announced a comprehensive solution
to help companies integrate external events, business partner data and
content from the World Wide Web into their enterprise portals. The
integration of OnDisplay's CenterStage eContent application into the
Viador E-Portal Suite gives Viador customers access to rich,
up-to-the-minute content from the Internet, packaged in customized, or
even personalized, formats.
-- A key addition to the management team was the announced hiring of
Raja Venkatesh as vice president and chief financial officer, and
secretary. Mr. Venkatesh brings over fifteen years of experience in
financial operations, business strategy and technology to Viador's
management team. Before joining Viador, Mr. Venkatesh was Corporate
Treasurer at Maxtor Corporation, where he led the company's $345 million
IPO. At Maxtor, Venkatesh was responsible for all treasury, tax and
risk management activities.
-- In another key personnel-related addition, Viador announced the hiring
of Phyllis Dunn as Vice President of Viador's Advanced Solutions Group.
Ms. Dunn brings twenty-eight years of experience in management,
consulting and technology to Viador's management team. As Vice
President of the Advanced Solutions Group, Ms. Dunn is charged with
delivering consulting services in pre-sales and post-sales environments,
building a consulting organization, and generating consulting revenue.
About Viador
Viador Inc. is a developer of enterprise portals that help corporations leverage their information and technology assets to gain business advantages. The company's Viador E-Portal Suite gives users, including business managers and analysts, rich yet easy-to-use functionality based on a thin-client architecture that supports widespread deployment at a low cost of ownership. Viador's technology is used by customers including 3Com, Charles Schwab, FedEx, Internal Revenue Service, Lucent Technologies, Sprint PCS and Xerox. Viador's headquarters office is in San Mateo, Calif. For more information, call 650-685-3000 or visit the Web site at www.viador.com.
Information in this release that involves Viador's expectations, beliefs, hopes, plans, intentions or strategies regarding the future are forward-looking statements that involve risks and uncertainties. All forward-looking statements included in this release are based upon information available to Viador as of the date of the release, and we assume no obligation to update any such forward-looking statement. These statements are not guarantees of future performance and actual results could differ materially from our current expectations. Factors that could cause or contribute to such differences include, but are not limited to, delays in development or shipment of new versions of our Viador E-Portal Suite product; lack of market acceptance of the Viador E-Portal Suite product or other new products or services; inability to continue to develop competitive new products and services on a timely basis; introduction of new products or services by major competitors; our ability to attract and retain qualified employees; and the actions or inaction of third parties. These and other factors and risks associated with our business are discussed in the Company's registration statement on Form S-1 declared effective by the Securities and Exchange Commission (``SEC') on October 25, 1999.
NOTE: Viador, the Viador E-Portal Suite, Viador Sage, Viador Information Center, Viador Gateway, Viador Sentinel, and the Viador SDK, are trademarks of Viador Inc. of San Mateo, California. All other products or company names mentioned are used for identification purposes only, and may be trademarks of their respective owners.
SOURCE: Viador Inc.
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