Zi Corporation continues revenue growth in third quarter
CALGARY, Nov. 15 /CNW/ -Zi Corporation (NASDAQ: ZICA - news; TSE: ZIC - news) has reported a 145 per cent increase in year-to-date revenues. Total revenues to date amount to $3,364,118. Third quarter revenues were $1,515,338, a 96 per cent increase over the $772,881 earned in the same period of 1999. Zi Corporation revenues increased 29 per cent relative to the second quarter of 2000.
In the third quarter Zi started collecting royalties from a new source, Alcatel. Alcatel products enabled with eZiText(TM) were introduced to the market in August. Zi is now collecting royalties from three of its licensees and earning royalties regularly each quarter. Royalty revenue in the third quarter was $931,928. The recently acquired Telecom Technology Centre also contributed $350,496 to third quarter revenues.
"Technology leadership is central to our strength," says Michael Lobsinger, chairman and chief executive officer of Zi Corporation. "Our overall technology offering has expanded with the acquisition and integration of Telecom Technology Centre."
Third quarter highlights
- Revenue growth of 96 per cent over third quarter of 1999 and 145 per
cent year over year
- Cash and equivalents of $51 million - no debt
- Alcatel OneTouch phones enabled with eZiText(TM) introduced for mass
distribution
- Completed TTC acquisition to expand technology offering in Bluetooth
design, Voice over IP and man-machine interface
- Opened new Tokyo office to serve our Japanese customers
- Patent infringement appeal won against Tegic
- Launched Oztime.com in August
------------------------------------------------------------------------
(Cdn 000s except earnings Q3 2000 Q3 1999 % change
per share)
------------------------------------------------------------------------
Revenues $ 1,515 $ 773 96 up
Operating income (loss) $(3,887) $(1,170) 232 up
Interest and other income $853 $39 2087 up
Earnings (loss) per share $(0.083) $(0.038) 118 up
------------------------------------------------------------------------
------------------------------------------------------------------------
Common shares outstanding 37,004,967 33,056,117 12 up
Employees 234 45 420 up
------------------------------------------------------------------------
<<
Net loss in the third quarter was $3,033,902, a loss of $0.083 per share
compared to a loss of $0.038 per share in the same period in 1999. The
increase in loss is related to expenses associated with Zi's global expansion.
Zi has been increasing staffing levels in Europe, Japan and North America to
provide local support to customers and to continue its investment in product
development activities globally.
Zi's Oztime investment launched its commercial service at the end of
August, two months ahead of schedule. Oztime addresses critical education and
training requirements in China, by offering market driven and career-oriented
certificate programs online. Oztime currently has 12 courses available and 12
more are in production. The initial focus of these courses has been on the
information technology and project management areas.
In October, Zi Corporation was presented with the i-Business Award for
innovation in information technology from the Canadian Chamber of Commerce in
Hong Kong. The i-Business Award is presented to an Internet-based Canadian
company or member of the Canadian Chamber that has developed innovative
information technology or services. Special consideration is given to
companies showing a distinct emphasis on the Greater China market.
"Seven years ago, Zi entered the market in China. Today, we have secured
contracts with 14 domestic manufacturers in China including Konka, TCL, Legend
and Amiosonic," says Michael Lobsinger, chairman and CEO of Zi Corporation.
"Zi has its employees to thank for this international award and for our
achievements worldwide."
Zi Corporation is a market-driven technology and services company focused
on developing and delivering intelligent interface solutions to the wireless
and consumer Internet spaces. The company's core product, eZiText(TM) connects
people to short messaging, e-mail, e-commerce, Web browsing and similar
applications in almost any written language. Zi supports its strategic
partners from offices in Calgary, Beijing, Hong Kong, San Francisco, Shenzhen,
Stockholm and Tokyo. A publicly traded company, Zi Corporation is listed on
the NASDAQ National Market (ZICA) and the Toronto Stock Exchange (ZIC). |
