ARTICLE: November 24th, 1999
Money News , www.canoe.ca
"Breakthrough' seen for Zi of red ink"
CALGARY (CP) -- Zi Corp. (ZIC-T), a maker of technology to facilitate
Chinese-language computer use whose share price has risen 1,400 per
cent in five months, has reported a 112 per cent rise in quarterly
revenue to $772,881.
Zi, with a current market capitalization of about $750 million, said
Wednesday it had a net loss of $1.1 million for the third quarter.
Revenue in the nine months ended Sept. 30 slipped to $1.4 million,
compared with $1.8 million a year earlier, while the net loss widened to
$3.8 million from $940,000.
Since July -- when Zi's share price began its rise from about $1.50 to
Tuesday's close of $22.50 on the Toronto Stock Exchange -- Zi has
secured 13 licensing and royalty agreements for its so-called intuitive
language processing software, eZiTEXT.
The company said it expects 2000 and 2001 to be "breakthrough
years."
"There are between 10 and 15 platforms with our technology poised
to enter the marketplace during the next four months," Michael
Lobsinger, chairman and chief executive officer, said in a statement.
"The strategy for embedding our technology in hand-held consumer
devices and information appliances is showing results. In addition,
Zi's technology will enable the interactive delivery of courseware and
educational products over the Internet in Asia." |
