Triant Reports Audited 1999 Financial Results; Revenue Triples, Net Loss Narrows Significantly, and Cash Strengthens
PR NEWSWIRE - March 27, 2000 09:32
NANAIMO, BC, Mar 27, 2000 /CNW-PRN via COMTEX/ -- Triant Technologies Inc. (CDNX:TNT; OTCBB:TNTTF) reports audited financial results for the fiscal year ended December 31, 1999 (expressed in Canadian dollars) that confirm the preliminary financial results released on February 11, 2000. The Company reports 1999 revenues of $1.35 million, which is triple the 1998 revenue of $0.45 million. Based on this level of revenue, the Company reports a net loss for the 1999 year of less than $1 million dollars, or a loss per share of $0.05, compared to a net loss for the 1998 year of over $3 million dollars, or a loss per share of $0.22. Cash and cash equivalents as of December 31, 1999 were more than $2 million.
Paul O'Sullivan, president and chief executive officer, stated: "We are pleased by our 1999 financial performance with our revenues tripling in the last year, our net loss narrowing significantly and our cash resources strengthening. Increased market awareness of our ModelWare/RT(TM) software solution were key factors for our improved results in 1999. The need of our customers to improve the overall equipment effectiveness (OEE) of their wafer processing equipment offers us tremendous opportunity for growth. The combination of our technological leadership, our strategic distribution and OEM relationships and our growing financial strength position Triant to capitalize on this opportunity."
Triant Technologies Inc. is a leader in semiconductor equipment health monitoring and advanced fault detection (EHM&AFD) solutions. Triant's principal product, ModelWare/RT, is an innovative software solution designed specifically for semiconductor manufacturers to detect and identify process and equipment faults in real-time and off-line. ModelWare/RT provides insight into equipment conditions and uses set-point and model-based alarms to quickly alert fab personnel of processing and equipment failures and benefits our customers by increasing overall equipment effectiveness, improving equipment maintainability and uptime, and increasing equipment throughput. Triant information is available via the Internet at www.triant.com
This news release contains forward-looking statements that are subject to various risks and uncertainties. The Company's actual results could differ materially from those anticipated in such forward-looking statements as a result of numerous factors that may be beyond the Company's control. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made, and the Company assumes no obligation to update forward-looking statements should circumstances in management's expectations or opinions change.
TRIANT TECHNOLOGIES INC. Summary Consolidated Statements of Operations Expressed in Canadian Dollars (Audited) |
