PR NEWSWIRE: (PR) TRIANT REPORTS SECOND QUARTER FINANCIAL RESULTS
98% match; PR Newswire - USA ; 02-Aug-2000 12:00:00 am ; 703 words
Revenue more than doubles cash stands at nearly $20 million resulting from Special Warrant financing
NANAIMO, BC, Aug. 2 /CNW-PRN/ - 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. ``Our strategies for future growth include: - Enhancing our current products and develop new products to address the requirements of both semiconductor manufacturers and semiconductor equipment manufacturers - Leveraging the skills and resources of our strategic world-wide distribution channel partners in Europe, Japan, Asia-Pacific and the United States - Seeding our software in other industries to demonstrate the potential value of equipment health monitoring and advanced fault detection solutions
''While our current focus is on capturing the opportunities for our software in the semiconductor industry, our long-term vision is to build a company centered on Triant's unique and proprietary core modeling technology, UPM. We believe there is a large market opportunity for our products and technology in the semiconductor industry as well as in other global industries.''
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 |
