IIMC - Oasis Technology SRL Reports $1.5 Million Net Earnings for 2nd Qtr. 2000
CHARLOTTE, N.C., Aug. 10 /PRNewswire/ -- Internet Multimedia Corporation
(OTC Bulletin Board: IIMC) announces today that its wholly owned subsidiary
Oasis Technology SRL produced net earnings for the 2nd Qtr. ending June 30,
2000 of $1.5 million bringing net earnings year to date to $2.9 million with
projected net earnings for fiscal year ending 2000 of $6.1 million.
The company cited strong growth in its hardware and software business.
Internet Multimedia Corporation recently acquired 100% of Oasis Technology
SRL, of Verona, Italy. Internet Multimedia is a software and hardware
technology company with $6.5 million in tangible assets and has ongoing
business in Greece, Spain, the United Kingdom, and is currently expanding its
business into the United States and South America. Oasis' net earnings for
fiscal 2001 are projected to be between $20 million and $25 million.
Note: Safe Harbor Statement
Securities Litigation Reform Act of 1995: This release contains forward-
looking statements that are subject to risk and uncertainties, including, but
not limited to, the impact of competition, new and untested products,
uncertainty of revenues and earnings, fluctuations in stock price and
liquidity, fluctuating operating results, and other risks detailed from time
to time in the company filings with the Securities and Exchange Commission.
Contact:
Ed Knowles
VP Mergers and Acquisitions
21st Equity Partners, LLC
704-540-8138
edknowles@21ep.com
Clinton F. Walker
VP Marketing and Research
21st Equity Partners, LLC
704-540-8138
cwalker@21ep.com
Dave Wood
President/CEO
21st Equity Partners, LLC
704-540-8138
dwood@21ep.com
SOURCE Internet Multimedia Corporation
-0- 08/10/2000
/CONTACT: Ed Knowles, VP Mergers and Acquisitions, edknowles@21ep.com ,
or Clinton F. Walker, VP Marketing and Research, cwalker@21ep.com , or Dave
Wood, President and CEO, dwood@21ep.com , 21st Equity Partners, LLC,
704-540-8138, for Internet Multimedia Corporation/
(IIMC) |
