PRGF now printing .50...the R&D is done for SIFT...as it moves into channels the numbers here should pick up:
nounces First Quarter Financial Results for FY 2004 and Annual Sha
GARDEN CITY, N.Y., Nov 25, 2003 (BUSINESS WIRE) -- Proginet Corporation
(OTCBB:PRGF), a global leader in the security software market, today announced
the financial results for the quarter ended October 31, 2003.
Total revenues for the three months ended October 31, 2003 increased by 10.6%
amounting to $1,342,695, compared to total revenues of $1,213,665 in fiscal
2003. Software sales and license revenues amounted to $359,773, an increase of
22% compared to $294,794 for the same period in fiscal 2003. Software
maintenance fees and other increased by 7% amounting to $982,922 compared to
software maintenance fees and other of $918,871 in the prior year period. The
Company reported a net loss of $202,695 compared to a net loss of $210,247 for
the three months ended October 31, 2003 and 2002, respectively.
"We view the first quarter as a transitional period as this is the first full
quarter that SIFT was generally available. Based on the current sales pipeline,
we are enthusiastic about the revenue opportunities SIFT brings to Proginet and
expect to return to profitability in the upcoming fiscal 2004 quarters." said
Kevin M. Kelly, President and CEO. |
