InteliData Provides Q401 and 2001 Earnings Call Date and Discusses Current Business Outlook
RESTON, Va., Jan. 24 /PRNewswire-FirstCall/ -- InteliData Technologies Corp. (Nasdaq: INTD), an electronic banking, bill presentment and bill payment technology company, today announced a conference call regarding its fourth quarter earnings to be held on Wednesday, February 20th. The conference call is scheduled for 4:30 Eastern Time, following the release at 4:00 p.m. Dial in information will be provided at a later date.
(Photo: newscom.com )
In discussing InteliData's business outlook, Chairman Bill Gorog said, "Last year we made revenue projections of $18-21 million for the year 2001 -- quite an increase over the $5 million in revenues we booked the year before, and a 33% increase over the previous year's pro forma InteliData/Home Account Network revenues. We also projected a quarter by quarter reduction in the cash burn rate, and that the company would be profitable in the second half of 2002."
"Our 2001 results are still preliminary, but despite the year's challenges we are confident that our original projections will be close to our projected range, albeit the low end," Gorog continued. "More importantly, we have reduced our cash burn rate and have improved our cash position moving forward."
Gorog continued, "Our 2002 results will be affected by the current business climate, with economic uncertainty delaying decision making by our customers and prospective customers. The important thing to understand here is that the operative term is 'delayed' business -- we fully expect activity in the latter half of 2002 to be strong and we still project profitability by year end provided we hit the mid-point of our forecasted revenue range."
Moving on to financial guidance for this year, InteliData's CEO Al Dominick said, "We are completing our operating plan and budget process based on our recently updated forecasts, and we are currently forecasting 2002 revenues of $21-28 million, which is below the $28-37 million range for 2002 we were forecasting last year. Like most other technology companies, we expect to gain visibility as the year progresses. Our ability to achieve the upper end of the range will be largely dependent upon the timing of EBPP initiatives being rolled out by our client financial institutions, which is something we cannot control, but expect to see happen during the year."
Dominick concluded, "We have certainly not lost sight of our exciting future, as we continue to develop opportunities to enhance our position in the eFinance industry. We continue our evaluation of our base businesses and our InteliWorks payment solutions products, and we believe the prospects for realizing the potential of that technology throughout this year and next are good."
ABOUT INTELIDATA
With a client list that includes 21 of the top 50 banks, InteliData offers Spectrum certified EBPP products to banks, credit unions and financial institution processors. InteliData's products provide a complete end-to-end solution for distributing e-bills and e-payments through multiple delivery channels, delivering e-bills to consumers, and enabling payment of bills through multiple payment processors. InteliData's Internet banking and card products provide large financial institutions with unsurpassed scalability, flexibility and security in supplying real-time, Internet based banking and card services to their customers. Headquartered in Reston, Virginia, USA, InteliData is publicly traded (Nasdaq: INTD) and its business partners include Spectrum EBP, ALLTEL, FDR and other industry leaders. For more information, visit the company's web site at intelidata.com .
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995:
This release contains forward looking statements that are subject to risks and uncertainties, including, but not limited to, our ability to continue funding operating losses, our ability to manage our expenses in line with anticipated business levels, risks associated with the acquisition of Home Account, the ability of the Company to complete product implementations in required time frames and the Company's ability to increase its recurring revenues and profits through its ASP business model, the impact of competitive products, pricing pressure, product demand and market acceptance risks, pace of consumer acceptance of home banking and reliance on the Company's bank clients to increase usage of Internet banking by their customers, the effect of general economic conditions on the financial services industry, mergers and acquisitions, risk of integration of the Company's technology by large software companies, the ability of financial institution customers to implement applications in the anticipated time frames or with the anticipated features, functionality or benefits, reliance on key strategic alliances and newly emerging technologies, the ability of the Company to leverage its Spectrum relationship into new business opportunities in the EBPP market, the on-going viability of the mainframe marketplace and demand for traditional mainframe products, the ability to attract and retain key employees, the availability of cash for long-term growth, product obsolescence, ability to reduce product costs, fluctuations in operating results, delays in development of highly complex products and other risks detailed from time to time in InteliData filings with the Securities and Exchange Commission. These risks could cause the Company's actual results for 2001 and beyond to differ materially from those expressed in any forward looking statements made by, or on behalf of, InteliData. InteliData is not under any obligation (and expressly disclaims an obligation to) update or alter its forward-looking statements, whether as a result of new information or otherwise.
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SOURCE InteliData Technologies Corp.
CO: InteliData Technologies Corp.
ST: Virginia
IN: CPR FIN
SU: ERP CCA
01/24/2002 07:01 EST prnewswire.com |
