BCE Emergis Announces Record Third Quarter Results
Montreal, Quebec
* Revenue tops $132 million
* Net earnings from operations at $0.16 per share
* 36th consecutive quarter of growth
BCE Emergis Inc. (TSE: IFM - news), a leading provider of B2B e-commerce services and exchanges, today announced record results for the third fiscal quarter ended September 30, 2000.
Revenues for the third quarter reached $132.1 million, up 171% from the same quarter in the previous year when revenues stood at $48.8 million. Net earnings from operations for the quarter were $14.9 million, or $0.16 per share, compared to a profit of $0.7 million, or $0.01 per share for the same period in 1999. These earnings, on a per share basis are up 15 times over last year, and up 78% over the last quarter alone.
``We achieved record revenue levels, with solid growth over the third quarter last year as well as over the second quarter this year. This revenue growth is supported by the high percentage of recurring transaction revenues, which continue to exceed 85% of total revenues, and includes U.S. revenues which continue to be an important component. In addition, our operational performance, as measured by net earnings from operations and EBITDA, demonstrates very significant progress,'' said Brian Edwards, Vice-Chairman and CEO of BCE Emergis. ``Our focus on building valued exchanges, on establishing important business relationships, and on delivering best-of-breed technology solutions through key industry channels, has resulted in a strong quarterly performance and the full impact of these moves will continue to be felt in the coming quarters,'' he added.
Including acquisition-related amortization costs and future income tax benefits, BCE Emergis recorded a net loss of $83.3 million, or $0.90 per share for the third quarter ended September 30, 2000, compared to a net loss of $5.5 million or $0.07 per share for the corresponding period in 1999.
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