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Another good earnings report:
siliconinvestor.com
Revenue for the first quarter was $2.5 million, an increase of 24 percent sequentially over fourth quarter 2000. Revenues for the quarter represent the highest quarterly revenues in the company's history. Net loss for the quarter was $1.5 million, or ($0.18) per share, reflecting a nine percent improvement relative to the fourth quarter 2000 net loss of $1.6 million, or ($0.20) per share. The company also reported a March 31, 2001, cash balance of approximately $3.0 million, reflecting a first quarter cash use of $1.04 million, a 13 percent decrease from the fourth quarter's cash use of $1.19 million.
"We delivered against our target of 20+ percent revenue growth in the first quarter, and we remain on track to achieve cash-flow-positive and profitable operations in the fourth quarter," said Michael Johnson, CEO of InfoNow. "Despite an unfavorable economic environment, we're developing solid revenue opportunities across all of our target markets, with both new and existing customers. In fact, recent sales include more than $1.6 million in contracts with two major companies. The first, with an existing telecommunications client, closed in the first quarter, and the second, with a new Fortune 200 client, closed earlier this week," Johnson added.
Good investing!
Chuck |
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