It is a loss when it is in brackets. Compare to 3 and 6 months
results below. The loss is not only from the purchase of PPL,
but must be something else also, on increased revenue
nonetheless. Also in reviewing the recent press releases in
regard to contracts, none specifically state the value of the new
contracts so I could only guess that revenues will increase,
and add the sale for $2.8 million.
Regards, Wisam
Microforum Inc -
Second quarter revenue up 576 per cent
Microforum Inc
MCF
Shares issued 17,237,000
1998-10-27 close $0.43
Wednesday Oct 28 1998
Mr. Eric Winston reports
The company had a record revenue increase of $6,065,94, for its second quarter
ending Aug. 31, 1998 compared to revenues of $1,052,295 for the same period
of the previous year. The 576 per cent increase in revenue reflects the successful
efforts of management to cross-market the products and services of the operating
companies. In addition to the revenue increase experienced by the company,
operating losses from consolidated operations were reduced by 85 per cent from
$2,849,784 during the second quarter of 1997 to a loss of $414,875 for the
second quarter of the current fiscal year.
FINANCIAL HIGHLIGHTS
Three months ended Aug. 31
1998 1997
Revenue,
from continuing
operations $7,117,389 $1,052,295
Net earnings
(loss) (414,875) (2,849,784)
Basic earnings
(loss) per
share (3 cents) (50 cents)
Six months ended Aug. 31
Revenue,
from continuing
operations $13,315,237 $2,664,417
operations $7,117,389 $1,052,295
Net earnings
(loss) (307,689) (3,590,387)
Basic earnings
(loss)
per share (2 cents) (63 cents)
The company is securing tremendous opportunities to present the new
Microforum to major companies across North America with its broadened line of
creative and marketing services that enhance its E-Commerce initiative.
Microforum's second quarter results also reflect an increase of 341 per cent in
gross profit.
During the quarter, Microforum entered into an E-Commerce development and
hosting alliance with StorageTek of Canada, a subsidiary of Storage Technology
to support REX, an online data backup service.
Additional business opportunities closed by Microforum's group of companies in
the second quarter included a multimillion dollar media and creative services
contract by Marshall Fenn Communications for new client, Player's Island Casino
in Louisiana, a turnkey contest and incentive program by PPL Marketing Services
including the design, implementation and administration for a major Canadian trust
company and the successful execution of five educational roadshows across
Canada for Merisel, Inc.
In September of 1998, Microforum successfully hosted an E-Commerce seminar
tailored specifically to retail and distribution channel executives. In line with the
company's E-Commerce efforts to move into the United States, the company
conducted its initial technical briefing session with Microsoft in Chicago during the
second quarter.
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