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See you guys at $5 SCNG soon.
Friday January 22, 6:30 am Eastern Time
Company Press Release
Scangraphics Announces Record Revenues for 4th Quarter and Fiscal 1998
Expects revenues to continue to improve quarter to quarter thru 1999
LIMERICK, Pa.--(BUSINESS WIRE)--Jan. 22, 1999-- Scangraphics®, Inc. (NASDAQ: SCNG - news), today announced preliminary financial results for the fourth quarter and fiscal year ended December 31, 1998.
The Company expects revenues for the fourth quarter of 1998 will increase 73% to $2.087 million versus $1.208 million a year earlier. The Company also expects revenues for the fiscal year ended December 31, 1998 to increase 36% to $6.568 million versus $4.827 million the prior year. The Company indicated that its fourth quarter results are in line with expectations, and the Company is expecting to continue its quarter-to-quarter improvement trend through 1999.
Larry Osterwise, President and CEO of Scangraphics, Inc. stated that ''I continue to be impressed with the improving revenue performance of Tangent Imaging Systems, which I anticipate will accelerate in the new year. Tangent continues to expand into new and exciting markets for its leading edge color reprographic imaging software and systems.''
Mr. Osterwise commented further that, ''Since the formal launch of Sedona®'s SpatialVision(TM) over the last few months, first at Oracle Open World in November, and then at the Java Business Expo in December, it is increasingly clear that a significant opportunity exists for our Company to become an Internet/Network e-commerce data access and visualization software provider. As an element of this transition, Sedona would become a leading enabler of ''visually-enhanced data network services'' on intranets, extranets and the Internet, serving a well-rounded mix of industries and disciplines including data warehousing vendors, retail, financial, insurance, telecommunications, and service industries.''
About SpatialVision ...
Sedona's SpatialVision incorporates many major attributes of Oracle Corporation's (Nasdaq: ORCL - news) Network Computing Architecture with comprehensive support for its Spatial Cartridge. Using Sun Microsystems (Nasdaq: SUNW - news) Java(TM) development platform, SpatialVision unifies the desktop with application data and makes it available via the Internet. The easy to use GUI permits simple construction and execution of complex queries. Integrated mapping and imaging tools allow for customization of the geospatial data to meet display, analysis, and output requirements.
SpatialVision provides the businessman, the help desk operator or the sales support administrator with the necessary tools on their desktops or laptops for answering complicated questions from the field. Retrieving the data quickly is only one part of the equation. Interpreting the information returned so the correct answer can be given is key. SpatialVision's unique data visualization capability brings your data to life...a picture is worth a thousand words.
SpatialVision's ease of use, low cost of operation, and seamless integration into mainstream applications are critical features giving the Oracle8 Universal Server a bridge to the desktop. In this way, SpatialVision provides an easy to use interface for the non-GIS expert and brings a robust yet intuitive analytical capability to the knowledge worker. Go to www.sedonageo.com for a full presentation on SpatialVision.
About Scangraphics...
Scangraphics, Inc., headquartered in Limerick, PA, is comprised of three operating companies: Tangent Imaging Systems, Sedona GeoServices, and Technology Resource Centers. This group pioneered and remains a leader in scanning and image processing technology, large document scanners, backfile conversion services, internet enabled business geographics and data visualization software and solutions and imaging software and systems. Scangraphics has Business Partnerships and Alliances with such companies as Oracle Corporation (Nasdaq: ORCL - news) and Sun Microsystems, Inc. (Nasdaq: SUNW - news), and its products are marketed internationally through systems integrators and distributors. Scangraphics is a publicly held corporation, with shares traded on Nasdaq (SCNG). Scangraphics and its operating companies can be found on the Web at: www.scangraphics.com.
Forward Looking Statements...
Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statement containing words such as ''believes'' ''anticipates'' ''plans'' or ''expects'' and other statements which are not historical facts contained in this release are forward-looking, and these statements involve risks and uncertainties and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in these forward-looking statements.
CONTACT: Vicki Franchetti, 610-495-3003 x214
Scangraphics, Inc.
649 North Lewis Road, Suite 220
Limerick, PA 19468
Tel: 610-495-3003
Fax: 610-495-3092
Web: www.scangraphics.com
Email: vickif@scangraphics.com
Scangraphics is a registered trademark of Scangraphics, Inc. Tangent, Tangent Imaging Systems, SpatialVision and Sedona are trademarks of Scangraphics, Inc. All other product names are trademarks or registered trademarks of their respective companies.
Contact:
Scangraphics, Inc., Limerick
Vicki Franchetti, 610-495-3003 x214
Fax: 610-495-3092
Web: www.scangraphics.com
Email: vickif@scangraphics.com
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