AFFI Message Board - Msg: 321911

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Technology Stocks : AFFI

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To: Aaron Kind who wrote (58)	10/2/1996 8:48:00 PM
From: Brenda L. Greer	of 330

To All: Affinity Technology Puts 3Q Revs Below 2Q's $2.45M COLUMBIA, S.C. (Dow Jones)--Affinity Technology Group Inc. (AFFI) said third quarter revenues will be significantly below the $2.45 million posted in the second quarter. In a press release, the company attributed the shortfall to longer-than-expected sales cycles and increased investment in new delivery channels. The company said its strategy of targeting larger financial institutions is working, but is at an early stage and is having an impact on its interim financial performance. Over the longer term, the company said it continues to believe its plan is solid. The company also said it reached agreement with a large U.S. consumer finance company to install 50 Affinity automated loan machines in retail outlets and other consumer venues. Affinity completed its initial public offering on April 26. It provides automation for the consumer finance industry.

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