MGI Software Comments on Fourth Quarter and Fiscal Year-end 2000 Expectations
TORONTO, Jan. 12 /CNW/ - MGI Software Corp. today announced that its
revenues leading to complete the fourth quarter and fiscal year ending January
31, 2000 are on track with management's plan and are expected to meet
analysts' expectations. The release of the results is expected in March, 2000.
"We are pleased with our preliminary data and are confident that our
results will be in line with the street's numbers," said Anthony DeCristofaro,
president and CEO, MGI Software. "We are experiencing growth across all
product lines, especially our Zoom server solutions. More importantly, we also
are gaining market share."
Toronto-based Nesbitt Burns, Canaccord Capital, and Octagon Capital
currently cover MGI Software. Their analysts' estimates for the fourth quarter
ending January 31, 2000 range from $8.3M - $10.7M and for the fiscal year from
$24M - $29.6M. For the nine-month period ending October 31, 1999, MGI Software
achieved $18.9M in revenues.
MGI Software (www.mgisoft.com) is a pioneer and established market leader
in E-commerce imaging and digital video. Its focus on delivering imaging
technology to the mass market has led to an ever-growing network of
partnerships with major consumer electronics manufacturers, computer hardware
and software vendors, photo retailers, media companies, and e-businesses. The
Company's intellectual property spans all aspects of imaging, including
content creation and editing, Internet distribution systems, Web printing, and
online navigation or Zoom. As Internet imaging becomes commonplace, it will be
MGI Software's technologies that are behind the scenes making it work. MGI
Software employs over 200 people with offices in North America, Europe,
Pacific Rim, and Japan. MGI Software is publicly traded on The Toronto Stock
Exchange under the symbol "MGI".
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