Totally Hip announces preliminary results for fiscal 4th quarter 1999 and 1st quarter 2000
VANCOUVER, Dec. 31 /CNW/ - Totally Hip Software Inc.
Canadian Venture Exchange: THW
Totally Hip today announced that the Company has seen progressive
improvements in sales revenue and operating costs during the fourth quarter of
fiscal 1999 and the first quarter of fiscal 2000. Furthermore, Randall H.
McCallum, company co-founder, Chairman and interim CEO and President has
agreed to accept the duties of CEO and President on a full-time basis. David
B. Dicaire will remain as COO and General Manager to continue to focus on
improving operating costs, sales results and product delivery.
``As the industry consolidates through mergers and acquisitions in 2000,
our next task is to see Totally Hip acquired by a larger company with the
resources to allow further expansion into the growing Internet broadband media
market. Our decision to exclusively focus on LiveStage Professional this past
summer has resulted in an overall improvement in operating costs and improved
revenues based on pre-sales, sales, and upgrades to LiveStage Professional
late in the 4th quarter of fiscal 1999 and 1st quarter of fiscal 2000. I
believe the Company's valuation will start to reflect an improvement for
shareholders. Preliminary figures show an improvement in 4th quarter revenue
and lower costs, with a lower than projected loss that is estimated at $0.02
per share. The Company is seeing a further improvement in the 1st quarter
2000 ending December 31, 1999 with a projected loss of $0.01 per share. When
this is compared to a loss of $0.04 per share for the previously announced 3rd
quarter 1999 and a loss of $0.04 for the 2nd quarter, we know we are on
track.' said Randall H. McCallum, CEO & President.
In a recent MacWEEK article, editor Matthew Rothenberg, writing for ZDNN,
notes that Apple's QuickTime multimedia player arrived just in time to
capitalize on rich-media content on the Web. Rothenberg concludes that
Apple's QuickTime is nearly ubiquitous and that Apple's latest technologies
are well-positioned to provide the framework for practically any online
selling venture, stating that ``While other companies concentrate on selling
their products via a Web site, Apple is devoting most of its attention on
providing a framework that can sell products across the product spectrum.'
``Apple will deliver their e-commerce enabled QuickTime 4.1 multimedia
player early next year. LiveStage Professional enables e-commerce companies
to immediately produce, develop and deliver Internet broadband media that
contains e-commerce enabled QuickTime video and rich media for the Web,' said
David Dicaire, COO and General Manager. ``During 2000 our superb development
and support team will continue to improve and offer the leading QuickTime
authoring tools. We have set certain goals for 2000 and we plan to meet or
exceed them.'
On July 19, Totally Hip announced LiveStage Professional and was awarded
the `Best of Show' at MacWorld New York for the alpha-stage product on July
21. In late August, an early pre-release of LiveStage Professional began
pre-selling to customers based on demand. On November 8, LiveStage
Professional 2.0 successfully shipped at Apple's QuickTime Live! Conference
and it has since become the industry standard authoring tool for developing
interactive QuickTime e-commerce and entertainment solutions for the Web. On
December 16, Totally Hip announced the reacquisition of its award-winning
WebPainter product family to consolidate the Company's technology and product
assets. On December 31, 1999, Totally Hip will ship an update of LiveStage
Professional to existing customers ahead of its previously announced year 2000
schedule.
The preliminary revenue and earnings results in this news release are
estimates and may change upon completion of the 1999 year end audit and 1st
quarter fiscal 2000 financial results scheduled for delivery in February 2000.
This press release may contain certain statements that are forward
looking. These statements are based on current expectations and preliminary
estimates that are subject to risks and uncertainties and actual results may
differ.
Totally Hip Software's (www.totallyhip.com) mission is to add
interactivity to the Web. The company founded in 1995, is a developer and
marketer of interactive Web development tools. These include the
award-winning LiveStage, LiveStage Professional and WebPainter products that
empower users to develop, produce and deliver the most engaging experience on
the Web. The Company is traded on the Canadian Venture Exchange (Trading
Symbol: THW). (C) 1999 Totally Hip Software Inc. All rights reserved.
TOTALLY HIP SOFTWARE INC.
Per: ``Randall H. McCallum'
----------------------------
Randall H. McCallum, CEO & President
The Canadian Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of this News
Release.
%SEDAR: 00003922E
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For further information: Randall H. McCallum, CEO & President,
(604) 685-6525, info@totallyhip.com
To request a free copy of this organization's annual report, please go to
www.newswire.ca and click on reports@cnw |
