Newsys Issues Third Quarter Results
March 15, 2000
OTTAWA, ONTARIO--Reports Solid Revenue Growth and Acquisition of
B2B Internet Portal and Media Channel
NewSys Solutions Inc. ("NewSys" or the "Company") (CDNX: NSS) is
pleased to announce its twenty-seventh consecutive quarter of
profitability and revenue growth. Revenue for the third quarter
and nine-month period ending January 31, 2000 reached $4,982,821
and $14,857,348 respectively. This represents an increase over the
same period in the previous year of 21.5% and 26.9% respectively.
Net earnings were $77,503 for the three-month period and $333,173
for the nine-month period, compared with $84,771 and $218,871 for
the same periods last year.
"Significant emphasis was placed on broadening our e-business
focus in the third quarter. We successfully achieved this, while
at the same time maintaining solid growth", stated Mark Quigg,
President and CEO of NewSys. "Our additional investments emphasize
the continued rapid development of our primary specialty in
business intelligence, and its integration into the company's
e-business strategy. This strategy, which includes our new
e-channel, positions NewSys for continued expansion and strong
business performance. Combining our existing e-business with this
e-channel is a fundamental component of our vision going forward."
Subsequent to the close of the third quarter, NewSys completed
the acquisition of the businesses of Inbusiness.com Inc.
("inbusiness.com") and The Business Media Network Inc. ("BMN"),
and that of Simetra Developments Ltd. ("Simetra"). BMN is a
diversified business-to-business ("B2B") media company, with the
objective of developing an audience for online business services.
It has been the incubator for the B2B portal - inbusiness.com -
which provides business news, e-tools, data products, and
e-commerce applications. "Inbusiness.com is the basis of our
unique e-channel strategy, which will provide significant
e-business market reach to NewSys, our partners and clients," said
Quigg.
Simetra is an Ottawa-based private company providing business
intelligence consulting services using Cognos applications, to a
client base of US Fortune 500 Companies. The combined practices of
Simetra and NewSys' existing contracts will result in a stronger
business intelligence speciality practice generating revenues in
excess of $8.5 million annually and a base of over 40 specialists.
/T/
Three months ending Nine months ending
January 31 January 31
2000 1999 2000 1999
Revenues: $4,982,821 $4,101,980 $14,857,348 $11,710,280
Net Profit: $77,503 $84,771 $333,173 $218,871
Net Profit/Share: $0.01 $0.01 $0.03 $0.02
Avg. Shares
Outstanding: 11,991,203 11,130,339 11,597,172 10,565,170
/T/
All figures in Canadian Dollars
NewSys invites members of the investment community to participate
in a conference call to review third quarter results and the
Company's operations. The call will be held on Thursday March 16th
at 4:00p.m. Eastern Standard Time. Interested parties should call
either 416-695-5806 or 1 800-273-9672, and request the "NewSys"
call. Slides for the presentation will be made available on the
NewSys website www.newsys.com. A replay of the call will also be
made available on NewSys' website and Linear Capital's website
www.linearcapital.com.
NewSys is an established IT-services company that delivers
forward-looking solutions in business intelligence, systems
integration and application management -and complements those
solutions with a variety of proprietary and customized software
products. Employing over 160 IT professionals, NewSys' clients
include Fortune 500 corporations and government departments
located in both Canada and the United States. The Company has
recorded 27 consecutive quarters of profitability and revenue
growth and was acknowledged by Profit Magazine, for the third
consecutive year, as one of the fastest growing companies in
Canada. For more information on NewSys' software and services,
please contact the company's web site at www.newsys.com or
telephone at (877) 761-9436.
All logos, trade names, and product names and trademarks or
registered trademarks are property of their respective owners. The
Canadian Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
For investor relations, please contact:
Linear Capital Corp.
(416) 364-2266
Attention: Tony Croll
tony@linearcapital.com
www.linearcapital.com
or
For public relations, please contact:
sara.piracha@newsys.com
(877) 761-9436
Attention: Sahira (Sara) Piracha,
Director of Corporate Marketing |
