Second quarter results
globeinvestor.com
OTTAWA, May 5 /CNW/ - Nuvo Network Management Inc. (CDNX:NNM), a leading remote network management services provider, is
pleased to announce its results for the second quarter of fiscal 2000 ended March 31, 2000.
Revenues for the quarter ended March 31, 2000 were a record $2,178,349, representing a 56% increase over the same period of fiscal 1999
and a 24% increase over the first quarter of fiscal 2000. Nuvo has now achieved ten sequential quarters of revenue growth since the business
was refocused to network management services in 1997. Recurring revenues represented 73% of sales, up from 68% in the same period of
fiscal 1999. Consistent with management's expectations, Nuvo experienced a net loss of $247,654 or ($0.003) per share in the second quarter
of fiscal 2000, compared with a profit of $129,730 in the same period of fiscal 1999, as the Company continues to build the required corporate
platform to support rapid growth. |
