Giga Announces Second Quarter Results
Revenues increase 110%; Annualized Value up 128%
CAMBRIDGE, Mass.--(BUSINESS WIRE)--August 13, 1998-- Giga Information
Group, Inc. (NASDAQ:GIGX - news) announced today that revenues for the
second quarter ended June 30, 1998 increased 110% to $9.1 million from
$4.3 million in the same period of 1997. The net loss for the second
quarter of 1998 decreased to $5.6 million from $6.8 million in the
second quarter of 1997. The pro forma diluted loss per share decreased
to $0.82 per share from $1.01 per share in the second quarter of 1997.
Revenues for the six months ended June 30, 1998 increased 111% to $17.7
million from $8.4 million in the same six-month period of 1997. The net
loss for the six months ended June 30, 1998 decreased to $9.5 million
from $12.5 million in the same period last year. The pro forma diluted
loss per share decreased to $1.38 for the six months ended June 30, 1998
from $1.85 in the same six-month period of 1997.
Annualized Value at June 30, 1998, was $33.3 million, representing a
128% increase from $14.6 million at June 30, 1997. The Company defines
Annualized Value as the cumulative annualized subscription value of the
Company's Continuous Information Services agreements in effect at any
given point in time without regard to commencement date, duration, or
risk of cancellation. |
