| | InfoInterActive Announces Second Quarter Results
Strong Sequential Growth in Customer Base as Major Partners Launch
HALIFAX, July 27 /CNW/ - InfoInterActive Inc. (Nasdaq: IIAA, TSE: IIA),
the leading application service provider of Internet call management
services, announced today its financial results for the second quarter of
2000.
Total revenue for the three-month period ended June 30, 2000 increased
to $2.3 million compared to $2.1 million in the previous quarter and $1.8
million in the second quarter of 1999. InfoInterActive's net loss during the
second quarter was $1.1 million or $0.06 per share, compared to a loss of
$1.4 million or $0.07 per share in the first quarter and $0.5 million or
$0.04 per share during the same period last year. InfoInterActive's customer
base continued to grow in the second quarter with 64% more customers over
the previous quarter, and 352% more than at the end of the same quarter last
year. The total of 143,000 paying customers at the end of the second quarter
was enhanced by the market launch of Centigram Communications Corporation, a
strategic partner and investor, and the continuing strong performance of
TELUS in the marketplace.
"Some of our largest partners are starting to provide significant growth
in the areas of revenue and customers," said Bill McMullin, CEO and chairman
at InfoInterActive. "TELUS and Centigram are two examples, and our previous
announcements clearly indicate that there are more ahead. Our business can
be described in one word -- brisk -- and it is getting more so."
"We are seeing excellent demand for our Internet Call Director service,
which is based on InfoInterActive technology," said Shahid Hussain, director
of Service Development, Local and Enhanced Services at TELUS. "Our marketing
program has been a success and the customer feedback has been exceptional."
On June 9, 2000, Centigram Communications announced it had reached an
agreement to be acquired by ADC Telecommunications Inc. as part of ADC's
plans to further solidify its position as a leading provider of enhanced
services applications.
"Centigram's Internet-enhanced call management service vision based on
InfoInterActive technology was very relevant to our interest in that
company," said Grant Wakelin, president of ADC's Enhanced Services Division.
"We look forward to bringing these services to a broader audience worldwide
and to leveraging this technology throughout ADC."
In the second quarter of 2000, InfoInterActive announced an agreement
with eVoice, a national provider of Internet-enhanced home voice mail
services. The company also launched an Internet Call Manager service for
Prexar, expanded its activities in Europe, launched its Internet Call
Manager 2000 service, and began trading on the Nasdaq under the symbol IIAA.
InfoInterActive Inc. (Nasdaq: IIAA, TSE: IIA) develops and deploys
network-based enhanced services combining telephone, Internet and wireless
technologies. Its Internet call management services are helping Internet
users surf with comfort and security knowing that they're always accessible.
The company markets its services through distribution and service provider
partners, which include telecommunications companies, Internet service
providers and original equipment manufacturers worldwide. It also markets
its services directly to end-users. The company holds patents in the United
States, Canada, Australia and Singapore for its Internet Call Manager
technology, and has patents pending in 24 other countries. For more
information about InfoInterActive, visit www.infointeractive.com.
This report may contain certain forward-looking statements that relate
to future events or future business and financial performance. Such
statements can only be predictions and the actual events or results may
differ from those discussed. The company cautions that these statements are
subject to important factors that could cause actual results to differ
materially from those expressed or implied in such forward-looking
statements and are more fully discussed in periodic reports filed with
Securities and Exchange Commission.
%SEDAR: 00002869E
-0- 07/27/2000
For further information: Elaine Benoit, Marketing Communications Specialist,
InfoInterActive Inc., Tel (902) 832-3614, E-mail elaine@infointeractive.com;
Kristin Martell, Optimum Public Relations, Tel (703) 847-0303, E-mail
kmartell@cossette.com; For investor inquiries, contact: Patricia Muzyk, CFO,
InfoInterActive Inc., Tel (902) 832-9148, E-mail
investor@infointeractive.com |
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