Correction to News Release
VANCOUVER, British Columbia, Feb. 23 /CNW/ -- Multiactive Software
Inc. (Toronto: E.), a leading provider of e-business front office solutions,
announced today a correction to its news release disseminated on February 21,
2000 in respect of its 1999 fourth-quarter results. The text portion of the
news release erroneously stated 1999's fourth-quarter loss per share as
$0.09. The text should have stated 1999's fourth-quarter loss per share as
$0.06. The financial statement table included in the news release stated the
loss per share correctly.
Further, the results for the fourth quarter of 1999 included the recording
of $1.2 million in sales returns, which were associated with a one-time,
retail sales promotion that took place in a prior period. Had these sales
returns been accrued in the period in which their associated sales were
originally recorded, the loss per share for the fourth quarter of 1999 would
have been $0.04 and the revenue for the fourth quarter of 1999 would have been
$5.7 million. An accrual for these sales returns was not previously made, as
the incident was isolated and unforeseen.
About Multiactive Software
Multiactive Software Inc. is a leading developer of innovative e-business,
sales, marketing, and customer management software, including the Entice!(TM),
ecBuilder(R), and Maximizer(TM) product lines. Designed to attract and retain
customers, these award-winning applications are used by more than a million
people worldwide.
Multiactive Software has won numerous awards over its 13-year history.
This includes the recent distinctions of the "Best of COMDEX/Fall 1999" award
from PC WEEK, the Computer Reseller News "Recommended" award, and finalist for
the Software & Information Industry Association's 2000 Codie Awards in the
category of "E-commerce Software -- Best Product." Multiactive also won a
Codie award for developing the "Best Internet Commerce Software" of 1999.
The company has offices located throughout North America, Latin America,
Europe, and Asia Pacific and a customer base that includes such leading
companies and institutions as Siemens, BankBoston, Travelers Insurance, Virgin
Records, and Pennzoil. To find out more about Multiactive Software and its
products, call 800-804-6299 or visit www.multiactive.com.
This release may contain certain forward-looking statements reflecting
Multiactive Software Inc.'s current expectations in the electronic business
and sales and customer management software markets. Investors are cautioned
that all forward-looking statements involve risks and uncertainties,
including, without limitation, changes in market and competition,
technological and competitive developments, and potential downturns in
economic conditions generally. Additional information on these and other
potential factors that could affect the Company's financial results are
detailed in documents filed from time to time with the provincial securities
commissions in Canada.
NOTE: All trademarks or registered trademarks stated herein are
properties of their respective owners.
CONTACT: Brenda Christensen, VP, Corporate Communications of Multiactive
Software Inc., 818-884-5391, or blcmultiactive.com.
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