SEDONA Corporation Announces Second Quarter Results; Q2 2001 Revenues increase more than 70% over Q1 2001
KING OF PRUSSIA, Pa.--(BUSINESS WIRE)--Aug. 15, 2001--SEDONA(R) Corporation (Nasdaq: SDNA) (www.sedonacorp.com), the leading provider of Internet-based Customer Relationship Management (CRM) solutions for small- and mid-sized financial services companies, today announced its results for the second quarter ended June 30, 2001.
Further, the company will hold a Conference Call for analysts, investors, and portfolio managers on Monday, August 20, 2001. Details for the Conference Call are provided below.
SEDONA announced revenues for the second quarter of $753,000, more than triple the year ago quarter level of $238,000, and over 70% ahead of the $441,000 registered in the prior quarter. Net loss for the quarter ended June 30, 2001 was $2,331,000 or $(.06) per share versus a net loss of $2,841,000 million or $(0.11) per share in the same quarter a year ago.
Chief Financial Officer Bill Williams commented, "The improved results are indicative of SEDONA's transition to a multi-distribution channel company. While we are just beginning to experience the rewards of our strategy, the trend is obviously positive. Even though the environment for technology companies has been cloudy, SEDONA has been able to increase sequential revenues and decrease cash burn rate for the third quarter in a row. These results are consistent with our focus to grow the organization, penetrate our initial target market, and drive SEDONA toward profitability."
"While we are pleased with the outstanding progress SEDONA has made, our organization is still evolving and expanding into a true multiple distribution sales channel company," stated President and CEO Marco Emrich. "In the last eighteen months, our team has made tremendous strides in product and organizational development, positioning SEDONA to become a leader in the expanding CRM industry. SEDONA now has an award-winning product, strong customer base, world-class partners, and growing market share. Along with the second quarter results, this shows that SEDONA is rapidly evolving from the developmental stage, into a fast growing company capable of providing the best-of-breed in CRM technology."
Mr. Emrich continued, "As we look to the balance of 2001 and beyond, SEDONA will continue to work to expand relationships with our industry leading business partners. Utilizing and executing this strategy will enable SEDONA to expedite sales growth, and enable the company to achieve break-even operations in accordance with our goals."
About Intarsia
SEDONA's Intarsia(TM) is an award-winning, comprehensive Internet-based CRM solution that helps aggregate silos of information to provide a single, consistent source for customer information. The system includes all the data analysis functionality of MCIF technology such as profitability analysis, householding, and visual profiling, but in addition, it also provides Internet read-and-write access for any authorized user within an organization.
As such, Intarsia provides quick and easy access to all critical information to allow all bank or credit union personnel to make efficient and effective business decisions. Recently, Customer Inter@ction Solutions(TM) Magazine chose Intarsia as Product of the Year. Intarsia is available as an Application Service Provider (ASP) solution or as a customer-hosted system providing affordable, quick, and easy system implementation.
About SEDONA Corporation
SEDONA(R) Corporation (Nasdaq:SDNA) is the leading provider of Customer Relationship Management (CRM) solutions for small and mid-sized financial services companies. SEDONA's Internet-based software, Intarsia(TM), and supporting Marketing Solution Services enable the entire financial institution to help identify, acquire, foster, and retain loyal, profitable customers.
With its affordable, quick, and easy implementation, SEDONA helps clients rapidly increase their ability to acquire and retain customers and to improve product pricing, packaging, and cross-selling opportunities, and to increase operational efficiency aimed towards improving overall profitability. SEDONA markets Intarsia together with leading solution providers such as IBM(R) Corporation and Acxiom(R) Corporation. For additional information, visit the SEDONA Web site at www.sedonacorp.com or call 800/815-3307.
Forward Looking Statements
Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statement containing words such as "believes" "anticipates" "plans" or "expects" and other statements which are not historical facts contained in this release are forward-looking, and these statements involve risks and uncertainties and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in these forward-looking statements.
CONFERENCE CALL: SEDONA will hold a Conference Call at 4:15 PM-EDT on Monday, August 20, 2001 for interested investors, analysts, and portfolio managers. To participate in the Conference dial 888/604-5272 (Domestic) or 908/228-5002 (International) 10 minutes prior to the call and ask for the "SEDONA Conference Call." Marco Emrich, President and CEO of SEDONA will host the call and be available to answer questions.
REPLAY: For those unable to participate in the "live" conference call, a replay will be available from about 7:00 PM-EDT on Monday, August 20, 2001 to 11:59 PM Friday, August 31, 2001. For REPLAY call: 888/789-0637 (Domestic) or 815/639-8908 (International). |
