QUERYOBJECT REPORTS RECORD THIRD QUARTER SALES; REVENUES UP
173% Over Previous Third Quarter Third
Quarter Net Loss Declines 33% Year Over Year
Business/Technology Editors
ROSLYN HEIGHTS, N.Y.--(BUSINESS WIRE)--Nov. 8, 1999--QueryObject
Systems Corporation (OTC:QUOB)(BSE:QOB) today reported results for
the quarter ended September 30, 1999. Total revenues for the third
quarter of 1999 were $555,000, up 173% from $203,000 in the third
quarter of 1998. Total revenues for the first nine months of 1999 were
$1,161,000 compared to $399,000 for the first nine months of 1998. Net
loss for the third quarter of 1999 was $1,190,000 ($.17 per share),
versus $1,776,000 ($.35 per share) for the third quarter of 1998. Net
loss for the first nine months of 1999 was $4,443,000 ($.70 per
share), versus $6,104,000 ($1.19 per share) for the first nine months
of 1998.
"This quarter cements the sales turnaround which first became
visible last quarter," said Robert Thompson, Chairman and CEO. "We
continue to develop a strong customer following in telecommunications,
where our ability to handle data volumes that can't be managed by
other products sets us apart."
"Equally encouraging," continued Thompson, "the third quarter's
results included our first sale to a government account, which was
also our first sale of our new QueryObject Analyzer Server for
Internet data analysis. Both of these are large steps forward in our
mission to make the QueryObject technology the backbone of high
content data analysis and data distribution over the Internet."
"We are also very excited about the establishment of our Internet
subsidiary, iQO.com, which will apply our technology to the much
larger market opportunity of the Internet," added Thompson.
Highlights of the company's accomplishments since the beginning
of the third quarter include:
-- QueryObject filed a patent application for its
internetQueryObject (iQO(TM)) software product, a data mart
technology that will be marketed for e-commerce and Internet data
distribution applications by the company's new Internet
subsidiary, iQO.com.
-- QueryObject completed its $4.5 million private placement of
preferred stock. This financing, combined with the company's
increased revenues, lower operating losses, and the potential
exercise of existing warrants, should position the company to
operate without the continued pressure of raising capital for its
core business.
-- The company gained additional industry visibility and credibility
with potential customers through the publication of complimentary
user stories in the leading industry journal, DMReview, from
QueryObject customers MCI/Worldcom and Telecom Italia.
-- QueryObject added another major European customer with a contract
from Telia, the Swedish telecommunications giant, which is using
QueryObject's software to analyze millions of daily call records
for its network operations.
-- The company continued its leadership position with the release of
QueryObject Version 3.1, which is faster and easier to use.
Version 3.1 also makes it even easier for partners to integrate
the QueryObject System as a key component of their turnkey
analytical applications.
-- QueryObject introduced "free" Internet data analysis software
through a new class of Internet servers, called QueryObject
Analyzer with a new pricing policy which eliminates user-based
fees.
-- A new VP of North American Sales, Brian Berns, joined the company
in October. North American sales had been lagging those in
Europe, and the company expects to achieve better penetration of
North America with its new sales team.
-- Robert Thompson added the Chairman title to his CEO duties. Alan
Kaufman, former Chairman, remains an active board member.
-- The company moved to less expensive and better situated new
headquarters on Long Island.
-- AmerInd signed on as a federal government reseller for
QueryObject, and made the company's first sale to a government
agency - an organization of the Department of Defense.
-- QueryObject formed its new Internet subsidiary, iQO.com, and
named former eShare executive, Ron Dunaisky, its Senior Vice
President of Business Development. iQO.com will use QueryObject's
technology and creates specialized versions of these products
available to companies selling business information over the
Internet and those running Internet portals for vertical
industries.
-- The company also announced the formation of iQO.com's first board
of directors, which consists of QueryObject Chairman and CEO
Robert Thompson, QueryObject Chief Operating and Financial
Officer Dan Pess, and two of QueryObject's outside board members
- Alan Kaufman and Amy Newmark.
-- QueryObject introduced the industry's first performance
guarantee, guaranteeing superior performance versus its
competitors' products in Internet-based analysis of strategic
business data.
Three Months Ended September 30,
1999 1998 % Change
Total Revenues $ 555,000 $ 203,000 173%
Operating Expenses 1,712,000 1,939,000 -12%
Loss From Operations (1,196,000) (1,756,000) -32%
Net Loss (1,190,000) (1,776,000) -33%
Net Loss Per Share $ (.17) $ (.35) -51%
Nine Months Ended September 30,
1999 1998 % Change
Total Revenues $ 1,161,000 $ 399,000 191%
Operating Expenses 5,494,000 6,439,000 -15%
Loss From Operations (4,432,000) (6,108,000) -27%
Net Loss (4,443,000) (6,104,000) -27%
Net Loss Per Share (.70) $ (1.19) -41%
About the QueryObject System(R)
The QueryObject System allows data intensive organizations such
as telecommunications, healthcare and insurance, or financial services
companies to achieve competitive advantage by analyzing more data
...in more detail ...more quickly ...over the Internet, or within
other corporate environments.
The system easily transforms large volumes of business data into
a compact, highly distributable data mart - a QueryObject - that can
then be analyzed using industry standard tools and techniques. Where
other technologies build subject-specific data marts whose limited
content, fixed schema, moderate dimensionality and high levels of
aggregation make them suitable for single user-classes and single
applications, the QueryObject's high content, polymorphic schema, and
high dimensionality permits multiple user classes to access granular
level data in support of multiple applications across the extended
enterprise. This enables more efficient data deployment with a
reduction in administrative overhead.
The QueryObject is the first true Information Age data structure,
optimized for data access and distribution over the Internet. Where
most databases were designed for client-server transaction processing,
the QueryObject is architected for Internet data analysis. Its
industry-leading design permits large amounts of source data to be
efficiently stored as a densely compressed loss-less mass, while a
unique polynomial index provides instant random access to both the
cross-dimensional totals and - via match keys - to the supporting
transaction level data. The benefits are fast consistent analysis of
large data volumes and concurrent support of a large user population.
The QueryObject Engine, which transforms production, warehouse or
legacy data into QueryObjects, runs on Mainframe, UNIX and Windows NT
servers, allowing organizations to save time by processing the data
directly on the platform on which it is stored.
The QueryObject Server, running on UNIX or Windows NT, provides
open end-user access to the QueryObject data marts. Support for
industry data access standards - JDBC, ODBC and OLE/DB - mean that the
QueryObject Server provides a powerful analytical back-end to most
Business Intelligence tools, increasing their scalability, query speed
and ability to support many concurrent users. QueryObject Server is
available as a WEB Edition for Internet Business Intelligence;
Enterprise Edition for client-server deployments; and Personal Edition
for stand-alone and mobile computing.
For organizations that want to extend data analysis capabilities
beyond their traditional BI communities, the QueryObject(TM) Analyzer
Server (Unix, NT, Linux) complements QueryObject server strengths by
providing web-based users with FREE downloadable access to a
multi-dimensional Java client that turns their standard browsers into
a flexible, intuitive, analytical client. QueryObject Analyzer
empowers the extended enterprise to make better decisions based on
easy inexpensive access to all the relevant data.
North American pricing for the QueryObject Engine, regardless of
the number of users, ranges from $50,000 to $275,000 depending on
platform. Deployment servers are also processor-priced, starting from
$15,000.
About QueryObject Systems Corporation
QueryObject Systems Corporation is a publicly-held company
headquartered in Roslyn Heights, New York, with a European
distribution subsidiary headquartered in Reading, the United Kingdom.
Its products are available worldwide through a network of authorized
distributors. The company's Internet subsidiary, iQO.com, specializes
in the application of QueryObject's technology for data analysis and
transport over the Internet, including e-commerce in analytical
information.
For more information about QueryObject Systems Corporation and
its technologies, or iQO.com, visit the Web site at
queryobject.com or iqo.com.
QueryObject, QueryObject Analyzer, internetQueryObject, iQO, and
iQO.com are trademarks of QueryObject Systems Corporation. QueryObject
System is a registered trademark of QueryObject Systems Corporation.
Yep. Finally revenues are at record level. Jack |
