eXcelon Corporation Announces Record Quarterly Revenues
Fueled by Growing Demand for B2B Products
BURLINGTON, Mass.--(BUSINESS WIRE)--Feb. 3, 2000--
Revenue for company's line of dynamic business-to-business and web
development platforms nearly triples over prior quarter
eXcelon Corporation (NASDAQ:EXLN), a leading provider of dynamic
business-to-business (B2B) solutions, today reported record total
revenues of $17.4 million for the three months ended December 31,
1999, compared to $17.1 million for the same period last year. Net
loss for the three months ended December 31, 1999 was $0.3 million
or $0.01 loss per diluted share, as compared to net income of $1.9
million or $0.06 per diluted share for the same period last year. Total
revenues of $17.4 million represented a $1.8 million increase from the
$15.6 million of total revenues reported in the third quarter.
The company had $2.1 million in license and services revenues for its
dynamic B2B and web development platforms (formerly known as the
eXcelon product line) for the three months ended December 31, 1999.
Of that amount, $1.4 million was software license revenues,
representing a nearly 200 percent increase from the third quarter and
more than 10 percent of the company's software license revenues for
the fourth quarter of 1999.
For the year ended December 31, 1999 total revenues were $60.8
million, compared to $62.4 million for the same period last year. Net
loss for the year ended December 31, 1999 was $7.1 million or $0.25
loss per diluted share, as compared to net income of $4.8 million or
$0.17 per diluted share for the prior year.
The announcement of these results follows the company's
announcement earlier this week that it had changed its name from
Object Design, Inc. to eXcelon Corporation and refined its business
strategy to focus on the rapidly growing market for dynamic B2B
solutions.
"We are very excited about our results for the quarter and the
transformation our company has gone through" said Robert Goldman,
President and CEO of eXcelon Corporation. "Our new name and new
market focus puts us squarely in the middle of a major new industry
direction. Namely, using the web to enable sophisticated
business-to-business solutions. Having made a very large investment
over the past three years in XML technology, we are beginning to see
the return on that investment because XML has emerged as the
standard lingua franca for business-to-business communication. Our
new products based entirely on industry standards provide a powerful
platform for deploying next generation dynamic B2B solutions."
Goldman added, "the success and rapid growth of these new products
for customers such as Nationwide Insurance, MoneyStar, and
Flashline.Com, begins to highlight the opportunity that is ahead and
launches us in our new direction with our new identity."
About eXcelon Corporation
eXcelon Corporation (www.exceloncorp.com) is a leading provider of
products and services that enable companies to engage in dynamic
business-to-business (B2B) commerce across the Internet. eXcelon
Corporation's dynamic B2B solutions are 100 percent
standards-based, thus eliminating technical barriers to doing
business across the Internet. Companies use eXcelon's dynamic B2B
solutions to establish high-value electronic partnerships that are built
for change. Based in Burlington, Mass., eXcelon Corporation was
founded in 1988 and completed its initial public offering as ODIS in
July 1996. The company's stock is traded on the Nasdaq National
Market under the symbol EXLN. eXcelon Corporation sells and
supports its products through branch offices across the U.S. and
international subsidiaries in the United Kingdom, Germany, The
Netherlands, Japan and Australia, as well as a worldwide network of
distributors, value-added resellers, systems integrators and other
indirect sales partners.
"Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995: Statements in this press release regarding
eXcelon Corporation's business, including future market opportunities
and prospects, which are not historical facts are "forward-looking
statements" that involve risks and uncertainties. For a discussion of
such risks and uncertainties, which could cause actual results to differ
from those contained in the forward-looking statements, see "Risk
Factors" in the Company's Annual Report or Form 10-K for the most
recently ended fiscal year.
NOTE: ObjectStore is a registered trademark of eXcelon Corporation;
eXcelon, eXcelon Dynamic Application Platform, eXcelon B2B
Integration Server, eXcelon eSolutions, Stylus, Cache-Forward and
Javlin are trademarks of eXcelon Corporation. All other trademarks
are the property of their respective owners. |
