Anyone who hasn't looked at PILT may want to check it out. It's been making nice, steady moves up for the past week -- rather than nutso spikes. I haven't wanted to pound the table on it, because I got in earlier without suspecting it'd behave so well. But others may want to consider also at this point. Here's their most recent financial PR from last week, which also details their operations and alliances (CMRC is among those using PILT's services)
ALSO NOTE that some of this runup is related to rumors of a possible pending buyout at the 22-25 level. That rumor is being pushed by an e-mail newsletter. But again, the price-rise has been slow and steady rather than the kind of weird action usually traced to rumors like that...
Vagabond
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Pilot Network Services Announces Second-Quarter Fiscal 2000 Results
ALAMEDA, Calif., Oct. 28 /PRNewswire/ -- Pilot Network Services, Inc. (Nasdaq: PILT - news), the only provider of subscription-based e-business services, today announced its financial results for the second fiscal quarter ended September 30, 1999. The company also announced that it has reached an agreement with Greyrock Capital, a Bank of America company, for $8 million in financing.
Services revenues for the second quarter were $7.1 million, up 89 percent from $3.8 million for the same quarter a year earlier. Net loss for the quarter was $5.2 million, or a loss of $0.38 per share, compared with a net loss of $5.1 million, or a pro forma loss of $0.42 per share, for the second quarter of last year.
''We are pleased with Pilot's strong year-over-year revenue growth, as more enterprises look to Pilot to secure their e-business,'' said Marketta Silvera, chairman, president and chief executive officer. ''This growth -- along with our partnerships with some of the most innovative companies in the e-business space, such as Sendmail and Concentric Network -- further strengthens our position as the leading Security Utility service provider.''
Revenues for the first six months of fiscal 2000 were $12.9 million, up 73 percent from $7.5 million for the same period of fiscal 1999.
New and Add-on Service Agreements
During the second quarter, Pilot signed a total of 102 new service agreements with new and current customers. Examples of new customers included Aspect Telecommunications, Bechtel, Commerce One, and USATWORK.COM. Major current customers that ordered additional services included the American Stock Exchange, Baxter Healthcare, E-Stamp, First Data Corporation, General Electric, and PeopleSoft.
New Alliances and Partnerships
Also, during the second quarter, Pilot:
-- Partnered with Sendmail -- the standards-based leader in Internet mail,
which is powering the vast majority of email servers today -- to
deliver the first ever secure and private email to corporations
-- Formed an alliance with a subsidiary of Ameritech -- Clover
Technologies, one of the leading U.S. systems integrators -- to provide
Pilot Secure E-Business Services to Clover customers
-- Formed a partnership with Concentric Network Corporation -- a leading
provider of Internet business solutions for small- to medium-sized
companies and customized Virtual Private Networks (VPNs) and data
center services for larger organizations -- for the reciprocal
incorporation of services into each company's VPN offerings
-- Allied with Argus Systems Group, which offers a full suite of
e-commerce security solutions and applications, to extend the
capabilities of Pilot's e-commerce hosting services and provide the
highest levels of security for corporations hosting e-business
applications
-- Joined the growing Application Service Provider (ASP) Industry
Consortium, an international advocacy group dedicated to establishing
guidelines for the rapidly emerging ASP segment of the application
software industry. Pilot was selected to chair the best practices
subcommittee for security.
About Pilot Network Services
Pilot Network Services, Inc. is the only provider of highly secure, subscription-based e-business services. As the Security Utility(TM) pioneer, Pilot enables secure e-business for companies of all sizes in every industry by providing a wide range of services with built-in security to protect enterprise networks. Pilot-protected e-business services include secure hosting, Internet access and gateways, and extranet/VPN services. Clients can choose options including encryption, authentication, access control, virus scanning, and web filtering. Pilot provides the highest level of protection available today by connecting businesses to the Internet through Pilot Security Centers. Protection from hackers, viruses and other threats is built into the Pilot network with an advanced, distributed security architecture called the Pilot Heuristic Defense Infrastructure(TM) (HDI(TM)). The Pilot HDI combines the most advanced technology with 24 x 7 monitoring by security engineers to continually evolve and proactively defend Pilot clients' e-business interactions against attack. Pilot can be reached at 888-40-PILOT or online at www.pilot.net and info@pilot.net.
Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ materially, including potential fluctuations in results of operations; the new market for Internet security monitoring, detection and defense services; the impact of competitive products and services; and the risk factors listed in Pilot's annual report on Form 10-K, dated June 29, 1999, and Form 10-Q, dated August 16, 1999. |
