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Technology Stocks : Information Architects (IARC): E-Commerce & EIP
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To: Rich Dee who wrote (398)6/19/1997 4:08:00 PM
From: deltarider   of 10786
 
Dow Jones/6-18-97/12:05

Alydaar Software Corp. expects to report a loss of $2 million to $3 million in the first quarter ended March 31st compared with a loss of $270,000 a year earlier.

Hollis Scott, chief financial officer, said the company expects to break even in the second quarter and be profitable by the 3rd quarter. The company was a non-reporting development stage company in the year-ago period. Scott said the company recorded a full-year loss of 5.1 million in 1996, on revenues of $38,000.
Scott said thje company filed with the Securities and Exchange Commission to become a reporting company and expects it to be effective in two to three weeks. It currently trades OTC Bulletin Board.

Seperately in a press release Wednesday Alydaar receiveda multi-million dollar line code remediation contract from Aer Lingus Group PLC. Alydaar said it will fix the lines of computer code to be century compliant in more than 30 of Aer Lingus' MVS mainframe applications.

4:10
Correction

Alydaar Software received a multi-million dollar contract from Aer Lingus based upon the successful completion of a pilot program.
(In an item at 12:05 pm EDT the status of the contract related to the pilot project was misstated.)
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