/C O R R E C T I O N from source - Nexus Group
International Inc./
16:54 EST Monday, November 19, 2001
In c8712, sent today at 16:00e, there was a typographical
error in the table. The Net Loss per share for Three Months Ended June 30 2001 should be $0.012,
and not $0.122. Full corrected copy follows:
NEXUS Group Reports Fourth Quarter and Fiscal 2001 Results
BURLINGTON, ON, Nov. 19 /CNW/ - NEXUS Group International Inc. (TSE:NXS) announces the
results of its fourth quarter and fiscal year ending June 30, 2001. Nexus reports its results in Canadian
dollars.
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Three Months Ended Year Ended
June 30 June 30
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2001 2000 2001 2000
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Revenue $200,208 $80,711 $719,277 $682,752
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Net Loss $3,399,847 $1,904,367 $8,332,004 $4,565,311
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Net Loss per share $0.012 $0.015 $0.035 $0.030
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Common Shares Outstanding -- -- 288,514,246 195,406,181
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Revenues for the year-ended June 30, 2001, increased to $719,277 from $682,752 a year earlier. This
increase is due to a rise in both royalties and rebates from the restaurant business.
The net loss for fiscal 2001 increased to $8.3 million from $4.5 million for fiscal 2000 as the company
repositions itself to focus on biometric technologies. Contributing to that loss were the charges incurred
due to the decision to write down certain restaurant operations, the intellectual property of Platinum
Intermedia, Inc. and the leasehold improvements of the Great Canadian Soup Company in the amount
of $1.3 million due to continuing losses attributed to those operations and in keeping with NEXUS'
mandate to focus on its core assets -- biometric technologies. The company's share of research and
development expenses from its joint ventures was $1.5 million. These expenditures are for biometric
product development from AcSys Biometrics Corp. and CompuBlox Inc. operations. Development
expenditures are expensed and not capitalized so future revenues will not be impacted.
"The past year has been one of significant change for NEXUS. Now that we have written down certain
non-core assets, this leaves us in a position to strengthen our balance sheet and ready the company for
focused growth in our biometric operations thereby delivering improved shareholder value in the year
ahead," said David Lobb, president and C.E.O.
NEXUS is a Burlington, Ontario-based, organization focused on leading- edge technologies. Its goal is
to position itself as the leader in biometric technology and other advanced fields. NEXUS trades on the
Toronto Stock Exchange as NXS.
%SEDAR: 00002884E
For further information: NEXUS Group International Inc., Phone: (905) 634-4111, Fax: (905)
634-1101, www.nxsgrp.com; Richard Bennet, Vice President, Finance, ext. 39; Darlene Marks,
Director, Communications, ext. 37
© 2001 Canada Newswire Ltd. |
