SEDONA Corporation Announces Year End 2000 Results; Revenues Increase 600% Over Previous Year
KING OF PRUSSIA, Pa.--(BUSINESS WIRE)--April 18, 2001--SEDONA(R) Corporation (NASDAQ: SDNA) (www.SEDONAcorp.com), a leading provider of Internet-based Customer Relationship Management (CRM) solutions for small and mid-sized financial service organizations, today reported financial results for the year ended December 31, 2000.
Revenues for the year ended December 31, 2000 were $1,787,000 versus $244,000 a year ago, an increase of more than 600%. The company reported a loss from continuing operations of $10,826,000 or $.42 per share, compared to a loss of $3,264,000 or $.18 per share a year ago. SEDONA closed the year with $1,081,000 in sales backlog, versus virtually no backlog at the end of 1999. However, the backlog data is lower than reported earlier as a result of one customer discontinuing its operations. In spite of this development, the company has not modified its outlook for 2001 announced earlier as its impact will be immaterial.
SEDONA Chief Financial Officer Bill Williams commented, "These results reflect our start-up year in the Customer Relationship Management Industry. During the fiscal year we developed both our organization and products. The growth of revenues for fiscal year 2000 was indicative of our effort to gain a major market share of the small to mid-size financial services industry."
President and CEO Marco Emrich stated, "2000 was a year of positive achievements for SEDONA. Already in 2001, we have continued that trend with contract wins, organizational improvements, and continued expansion of relationships with industry leading channel partners. With significant foundational elements now set including: SEDONA's comprehensive CRM solution, Intarsia(TM), our recently launched first-to-market Marketing Solution Services, established and expanding direct and indirect distribution channels, state-of-the-art customer service and technology teams, strong customer and revenue base, and an aggressive management team, SEDONA is well-positioned to capitalize on our leading position in providing best-of-breed CRM solutions and services to the financial services market." |
