MapInfo Announces $5.9 Million in First Quarter Orders From a Major Telecommunications Provider
biz.yahoo.com
Nice news for a rocky week in the market!
Happily Long MAPS,
Duke
(full story follows)
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Wednesday January 5, 8:06 am Eastern Time
Company Press Release
MapInfo Announces $5.9 Million in First Quarter Orders From a Major Telecommunications Provider
TROY, N.Y.--(BUSINESS WIRE)--Jan. 5, 2000--MapInfo Corporation (Nasdaq: MAPS - news) today announced that it received a total of twenty-one orders from a major telecommunications provider in the Company's first quarter. The orders are for a wide range of software and data products worth a total of $5.9 million. MapInfo will recognize $2.3 million in revenue from these orders in its first fiscal quarter ended December 31, 1999. Of the remaining amount, $3.4 million is for options to renew data subscriptions for 2001 and 2002. The Company intends to report first quarter financial results on January 18, 2000.
``The magnitude of these orders shows the value telecommunications providers place on MapInfo technology in planning and building their communications networks and customer relationship management systems,' said John Cavalier, MapInfo president and CEO. ``It also demonstrates MapInfo's strategy and commitment to building long-term relationships with customers who are seeking competitive advantage in high-growth industries, such as telecommunications.'
About MapInfo
MapInfo Corporation enables customers to use location to transform information into business advantage. A global company and technology leader, MapInfo provides business intelligence solutions that are deployed across organizations to help them better understand their markets and customers. MapInfo solutions are available in 20 languages through a network a strategic partners and distribution channels in 58 countries. Headquartered in Troy, NY, MapInfo Corporation is on the World Wide Web at www.mapinfo.com.
Of Note
This press release contains forward-looking statements that involve a number of risks and uncertainties, including any statement that is not a statement of historical fact, such as statements using the word ``believe.' Among the important factors that could cause actual results to differ from those indicated by such forward-looking statements are delays in product development schedules, competitive and market conditions, and the other risk factors detailed in the Company's Annual Report on Form 10-K for fiscal 1999.
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Contact:
Company Contact:
MapInfo Corporation
D. Joseph Gersuk, EVP/CFO
or
Barbara Pilliod, Public Relations Manage
518/285-6000
www.mapinfo.com
or
Investor Contact:
Lippert/Heilshorn & Associates
John Heilshorn/Jody Burfening
john@lhai.com
jody@lhai.com
212/838-3777
or
Schwartz Communications
Merrill Freund/Lauren Arnold
merrillf@schwartz-pr.com
laurena@schwartz-pr.com
781/684-0770 |
