Net Shepherd Inc., (ASE:WEB), a leading provider
of Net-based business solutions, today announced that revenues for the second
quarter ended June 30, 1998 increased nearly 200% to $979,000 from revenues of
$495,000 in the first quarter of 1998. Net consolidated loss for the period
is $129,000 or $0.01 per share, a major reduction in net losses of $824,000 or
$0.04 per share, in the same period of 1997. The Company has shown increasing
revenues for the second straight quarter but is not yet generating positive
cash flow from operations. Expenses for the quarter were reduced by $149,000
from a Scientific Research Tax Credit (SRTC) the Company received in the
quarter, which resulted from 1996 development activities. Revenues were
generated through a combination of the Company's Internet community rating
service (core to its Knowledge Management Tools) and the systems integration
component of the business. |
