Tom,
Here's the link:
tse.com
From The Globe and Mail:
theglobeandmail.com
ONE YEAR AGO TODAY
On March 9, 1999, Certicom Corp.'s stock jumped 5 per cent, even though the company's third-quarter losses more than doubled. The data security technology company had revenue in the third quarter ended Jan. 31 of $1.7-million, nearly a sixfold increase from the same period in 1998 and up 32 per cent from the previous quarter. Losses, however, grew deeper. The Toronto-based company lost $8.8-million or 81 cents a share in the quarter, compared with $3.4-million or 38 cents for the same period a year earlier. But investors, encouraged by the stronger revenue, pushed the shares up 80 cents to $16.80 on the Toronto Stock Exchange. Philip Deck, chairman and chief executive officer, said about 5 per cent of revenue came from licensing royalties from its encryption products, while the rest came from a combination of servicing the customers that are testing its technology and up-front licence payments. Mark Pavan, an analyst with Yorkton Securities Inc. in Toronto, said Certicom's revenue and losses were in line with his expectations. He has an "underperform" on the stock with a 12-month target of $15, which he plans to maintain as he watches the company build its services business. A year later, the encryption technology maker closed yesterday on the TSE at $214. |
