Bell Emergis/MPACT Immedia 3mo&4mo Results
BCE now starts on calander year end
Wire: ISDN DateStamp: 990121 08:37:59 Corporation: MPACT IMMEDIA
Stock Symbol: IFM Dateline: MONTREAL, QB Headline: BELL EMERGIS/MPACT IMMEDIA RELEASES PRELIMINARY ESTIMATES - STREAMLINES COST STRUCTURE AND POSITIONS ITSELF FOR 1999 Text:
In advance of its Annual Shareholder Meeting today, Bell
Emergis/MPACT Immedia, one of the leading electronic commerce
service providers in North America, indicated that it will
announce both its results for the three-month period ended
November 30, 1998 as well as the audited four-month fiscal year
ended December 31, 1998 by January 29. In the interim, it has
released preliminary figures for these periods. As previously
indicated, Bell Emergis/MPACT Immedia changed its year-end to
December 31st, to be aligned with BCE and Bell Canada. These
figures represent the combined figures of the former Electronic
Business Solutions (EBS) division of Bell Emergis and MPACT
Immedia.
Bell Emergis/MPACT Immedia expects to announce revenues in the
area of $25 million for the three-month period ended November 30,
and $36 million for the four-month period ended December 31,
1998.
The Company anticipates an operating loss for the three-month
period of ($2.5) million and a comparable number for the
four-month period of ($2.7) million. These figures exclude a
one-time merger rationalization charge of an anticipated $12
million and are before interest, taxes, depreciation and
amortization.
"This has been an exciting period for the Company. We have
restructured the business, focused on network-centric electronic
commerce solutions, spent considerable time and effort in
rationalizing product lines and vertical channels, combined the
two workforces, and integrated facilities. In particular, we
have streamlined our cost structure and this will benefit us
significantly as we go forward in 1999," said Brian Edwards,
President and CEO of MPACT Immedia.
Edwards continued, "While our primary focus was to reorganize,
streamline and position us for the future, we were still able to
achieve strong revenue growth, in particular when comparing the
anticipated December revenue level over the quarterly figure.
This trend is further amplified when viewing the EBITDA
forecasted loss for the quarter as compared to that for December.
We are extremely pleased with these trends."
The Company recorded several notable achievements during this
quarter, in particular the acquisition of Newstar Technologies''
e-Finance division. This transaction positions Bell Emergis/MPACT
Immedia as the top electronic commerce service provider to
Canadian banks.
The Company also concluded significant marketing transactions. On
September 1st, Bell Emergis/MPACT Immedia became the first
service provider in Canada to be certified for the Automotive
Network Exchange (ANX), a breakthrough in extranet technology.
The Company also signed an agreement with Speedy Title and
Appraisal Review Services, a subsidiary of Cendant Corporation,
to provide e-commerce services to one of the largest providers of
mortgage funds in the United States, Cendant Mortgage.
In addition, Bell Emergis/MPACT Immedia signed a key partnership
with Entrust, to provide Entrust-based Certification Authority
(CA) services worldwide through Emergis'' OnWatch(tm) Service, and
a strategic alliance with Tele-Direct, who will utilize the
Emergis @Commerce Solution for Yellow Pages(tm) e-commerce
initiatives.
MPACT Immedia Corporation delivers network-centric electronic
commerce solutions that improve customer processes. Its complete
e-commerce business solutions enable organizations to better
compete in the global marketplace. Following its recently
concluded merger with the Electronic Business Solutions (EBS)
unit of Bell Emergis, the combined entity is one of the top tier
electronic commerce providers in the world. Bell Emergis/MPACT
Immedia is a subsidiary of Bell Canada, the largest Canadian
telecommunications operating company. For more information,
please refer to www.mpactimmedia.com or www.bell.ca/netcommerce.
- end -
For more information:
Anne Belliveau
General Manager
Corporate Communications
Bell Emergis/MPACT Immedia
(514) 397-8535
abelliveau@emergis.com
MPACT Immedia
Stock Symbol: IFM
Exchange Codes: TSE, ME
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