MGI Software Announces 80% Revenue Growth In Q3
Record Reflects Momentum from New Products and Acquisitions
TORONTO, Dec. 6 /CNW/ - MGI Software Corp. (TSE:MGI) today announced
financial results for the third quarter ended October 31, 1999. Revenues for
the third quarter grew 80% to a record $9 million as compared to $5 million
for the third quarter ended October 31, 1998. Excluding amortization of
acquired technology, the company reported a net loss for the quarter of $2
million, or ($0.06) per share, compared to a net loss of $1.3 million, or
($0.05) per share in the third quarter ended October 31, 1998.
For the nine months ended October 31, 1999, revenues were $18.9 million,
an increase of 77% from revenues of $10.6 million for the comparable period in
the prior year. Excluding amortization of acquired technology, net loss for
the nine-month period ended October 31, 1999, was $6.5 million or ($0.23) per
share as compared to $6.9 million or ($0.28) per share in the prior year. |
