Triant Reports Second Quarter Financial Results
Revenue more than doubles
cash stands at nearly $20 million resulting from Special Warrant
financing
NANAIMO, BC, Aug. 2 /CNW/ - Triant Technologies Inc. (CDNX:TNT;
OTCBB:TNTTF) reports unaudited financial results for the six-month period
ended June 30, 2000 (expressed in Canadian dollars), which primarily reflect
the continued commercialization efforts for the Company's ModelWare/RT suite
of leading software products for equipment health monitoring and advanced
fault detection.
Revenue for the six-month period ended June 30, 2000 was $682,152, which
is more than double the revenue of $307,973 for the comparative period in
fiscal 1999. The net loss for the period was $788,997, or $0.03 per share,
compared to a net loss of $731,780, or $0.04 per share, for the comparative
period.
Paul O'Sullivan, president and chief executive officer, stated: ``The
strengthening revenue reflects the semiconductor industry's increased demand
for the Company's ModelWare/RT product line and work on the Docklands Light
Rail contract received in May.''
In June, the Company completed a $15 million Special Warrant financing
underwritten by Sprott Securities Limited, as lead underwriter, and Taurus
Capital Markets Ltd. significantly improving the Company's financial position.
As a result of the transaction, as of June 30, 2000, cash and cash equivalents
(including cash held in escrow of $7,025,000) were $19,780,949 (compared to
$2,318,588 at June 30, 1999), working capital was $19,824,994 (compared to
$2,071,731 at June 30, 1999), assets were $20,475,081 (compared to $3,025,934
at June 30, 1999), and shareholders' equity was $19,077,459 (compared to
$1,667,785 at June 30, 1999).
Commenting on the financing, Mr. O'Sullivan stated: ``Our recently
completed financing, raising $15 million, gives us the financial
infrastructure to execute on our plans for future growth.''
During the second quarter, Triant signed a letter of intent to acquire
Advanced Profiling, Inc. of Idaho Falls, Idaho in exchange for 300,000 common
shares of Triant, subject to regulatory approval, to complement its portfolio
of intellectual property and core technology. Triant also signed a memorandum
of understanding with AvantCom Network Inc. of Freemont, California, to form a
strategic alliance and participate in AvantCom's Global Alliance Program
(GAP). GAP is an alliance of semiconductor device manufacturers, equipment
suppliers and independent software vendors spanning fab, probe and test
operations.
Mr. O'Sullivan continued: ``Our mission is to provide innovative software
solutions to help our customers improve the effectiveness of their
manufacturing equipment. To achieve this mission we are focused on becoming
the global leader in equipment health monitoring, advanced fault detection and
sophisticated data analysis technology.
Just happened to be at their website today and noticed the PR
Jim |
