Annual higlights
The Bridges Initiatives Inc BIT
Shares issued 8,496,250 Dec 1 close $0.65
Wed 2 Dec 98 News Release
Mr. Doug Manning reports
Bridges' fiscal year ended Nov. 30, 1998. Revenues in fiscal 1998 will be
double 1997 revenues of $1,308,000. Earnings before amortization will
increase more than 300 per cent over 1997 preamortization profits of
$238,000.
In 1998 1,600 new sites subscribed to CX. More than 1,000,000 North
American youth in over 2,300 schools now subscribe to Bridges' national and
regional career development services.
Usage of the CX resource exploded. Over 11,000,000 page impressions were
recorded in 1998. This is four times the 2,780,000 recorded in 1997.
The province of Manitoba purchased CX for all schools with grade 9 to 12
enrolments. This is the first province or state to obtain CX for all its
senior students.
About 90 per cent of CX users resubscribed to the service, indicating
strong customer commitment to Bridges' resources.
Bridges will focus on the achievement of these three key results for 1999:
Increase market share - secure over 12.5 per cent (4,500) of the North
American middle and secondary school market as subscribers to Bridges'
online career development services;
Diversify revenue streams - generate revenues of over $500,000 from CX
regionalization, an adult version of CX, an online portfolio, and
other diversification of Bridges' technology.
Double earnings - increase earnings before taxation and amortization
100 per cent over 1998.
Bridges' CX resource is used in approximately six per cent of North
American middle and secondary schools. The opportunity for improved market
share is increasing as the vast majority of schools are now connected to
the Internet.
Bridges also anticipates additional revenue from the regionalization,
customization and continued development of the CX resource. The company
projects that its growth should create corporate efficiencies that will
allow it to increase the percentage of revenue that results in pretax
profit. |
