PRDS about to explode. Two 80,000 buy blocks at close Friday. No sellers, have watched the chart for one week now.
Predictive Systems Posts Solid Third-quarter Results
.... company's growth reflects value of IT services for business-critical
networks....
NEW YORK--(BUSINESS WIRE)--Nov. 11, 1999-- Predictive Systems, Inc. (NASDAQ:PRDS - news), a network
consulting firm, today announced financial results for the third quarter that ended September 30, 1999. Revenues for that
quarter reached $14.1 million, a 103% increase over revenues for the same period in 1998 of $6.9 million. Revenues for the
nine months ended September 30, 1999 were $36.7 million, an increase of 123% over revenue of $16.4 million for the same
period in 1998.
``Predictive Systems' strong revenue growth of over 100% reflects the value of bringing network services to new and existing
clients that are facing the challenges of doing business in the new Internet economy,' said Ron Pettengill, Predictive's chairman
and CEO.
Predictive Systems reported a net loss for the quarter ended September 30, 1999 of $628,000, compared with a net loss of
$119,000 for the same period in 1998. ``As we continue to grow, our operational loss reflects our investments in an internal
world-class recruiting organization, coupled with infrastructure investments in our U.S. regional locations and our new European
operations to meet the needs of our Fortune 1000 clients worldwide,' said Pettengill.
Loss per share for the third quarter of 1999 was $0.06 on 10,389,000 shares, compared with $0.02 on 6,836,000 shares for
the third quarter of 1998. Predictive Systems reported a net loss of $811,000 for the nine months ended September 30, 1999,
or loss per share of $0.09 on 9,441,000 shares. This compares with a net loss of $856,000 or loss per share of $0.16 on
5,368,000 shares for the nine months ended September 30, 1998.
Predictive Systems, founded in 1995, is a network consulting firm focused on the design, performance, management, and
security of complex computing networks. Using its proprietary BusinessFirst(TM) methodology to translate clients' strategic
business objectives into sound technology solutions, Predictive Systems demonstrates the business value of technology in
measurable terms. Headquartered in New York City, Predictive Systems has regional offices throughout the US. Its
international operations are managed from the firm's office in London, UK.
This press release contains statements of a forward-looking nature relating to future events or future financial results of
Predictive Systems. Investors are cautioned that such statements are only predictions, and that actual events or results may
differ materially. In calculating such statements, investors should specifically consider various factors which could cause actual
events or results to differ materially from those indicated from such forward-looking statements, including the matters set forth in
Predictive Systems' reports and documents filed from time to time with the Securities and Exchange Commission.
Predictive Systems, the Predictive Systems logo and BusinessFirst are trademarks of Predictive Systems, Inc. All other brands
or product names are trademarks or registered trademarks of their respective companies. |
