Graham, although you pointed out something which might be viewed as negative when taken out of context, here is the complete news release from today's Globe and Mail
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JetForm to hire 100, boost R&D New jobs to help expand software
Tuesday, July 7, 1998
By Mark Evans
JetForm Corp. , buoyed by the growing popularity of its electronic documents and workflow software, plans to hire 100 people and increase its research and development budget by 50 per cent over the next 10 months.
President and chief executive officer John Kelly said the hiring plans in the fiscal year ending April 30, 1999, will expand the work force to 700. Most of the jobs will be in Canada and Ireland.
JetForm needs more people mostly because it's increasing its research budget to $18-million in fiscal 1999 from $12-million in the previous year. Half of the new positions will be research-related to support JetForm's focus on expanding the capabilities of its Intempo software, which is used to send electronic documents over computer networks, including the Internet, Mr. Kelly said.
With the Ottawa-based company's revenue topping $100-million for the first time in fiscal 1998 and the strong performance of its stock recently, he said, the company doesn't anticipate much difficulty attracting the people it needs.
JetForm is expected to post earnings of $1.12 a share in fiscal 1999 based on a survey of six analysts by First Call Corp. That compares with 62 cents in 1998. Revenue is forecast to climb 30 per cent to between $145-million and $150-million from $111.2-million last year. JetForm says its software helps companies save money by reducing paperwork and the number of people needed to administer it.
JetForm also said yesterday that Ken Killin, vice-president of finance and administration and chief financial officer, had resigned. It said Mr. Killin, 40, is moving back to Toronto to be closer to his family. Jeffrey McMullen, JetForm's vice-president and controller, was named Mr. Killin's successor.
JetForm's stock rose 75 cents to close at $30 on the Toronto Stock Exchange. On the Nasdaq Stock Market, the shares climbed 19 cents (U.S.) to $20.19. |
