SEDONA Corporation Reports Results For Fiscal Year 1999; Teleconference to be held on Friday, March 31, 2000 at 10:00 a.m.-EST
LIMERICK, Penn.--(BUSINESS WIRE)--March 30, 2000--SEDONA Corporation (NASDAQ: SDNA) (www.sedonacorp.com), announced today its results of operations for the year ended December 31, 1999. The following financial data reflect the sale of the two divisions of the Company, announced earlier, which were not a part of its core strategy of focusing on the development and marketing of Internet-based Customer Relationship Management (CRM) solutions for small to mid-sized financial services and etailing organizations.
The Company reported revenues from continuing operations of $244,000 for the year ended December 31, 1999, as compared to $15,000 a year ago. The loss from continuing operations for the year ended December 31, 1999 was $3,264,000, or $0.18 per share, as compared to a loss of $3,879,000, or $0.28 per share, for the year ended December 31, 1998. Including the discontinued operations, the loss was $6,838,000, or $0.31 per share, in the year ended December 31, 1999 versus $7,104,000, or $0.36, for the same period a year ago.
Bill Williams, Vice President and CFO of SEDONA, said, "1999 represented a year of transition to establish the foundation for the future growth of the Company. SEDONA accomplished the total focus on its Internet application solutions, accelerated the development of a world class management team and continued to add product features and capabilities that further differentiate SEDONA's offerings."
Marco Emrich, President and CEO, noted, "Continuing the momentum established in 1999, during the first quarter of 2000, we have had some significant milestones. We have hired the remaining members of our management team and aggressively expanded our sales, marketing and engineering organizations."
Mr. Emrich continued, "We also announced the proposed acquisition of Acxiom Corporation's Customer Information Management Systems (CIMS) business unit, as well as the equity investment in Lead Factory, a provider of Internet-based, lead tracking software. The CIMS acquisition added over 80 new client accounts, and allowed us to integrate SEDONA's visual profiling Internet application with CIMS technology. Together these technologies allow SEDONA to deliver a comprehensive and affordable Customer Relationship Management (CRM) solution for financial services and etailing organizations. "
Mr. Emrich added, "We are confident of the leadership position we are creating in delivering the next generation CRM technology. With the recent additions to our equity base of almost $9 million and the availability of other new funds if required, we have the necessary resources to fuel our aggressive plans for growth and believe the results of our efforts will be visible in the coming quarters." |
