Totally Hip releases results for first quarter 1999
VANCOUVER, Mar. 2 /CNW/ - Totally Hip Software Inc.
Trading Symbol: THW: ASE
Totally Hip Software Inc. (ASE:THW) of Vancouver, British Columbia,
award-winning developer of software solutions for creating Internet Multimedia and Rich Media, today reported a 51 percent increase in revenues for the three months ended December 31, 1998.
Revenue for the first quarter of 1999 increased to $126,789 from $83,951 in the corresponding period in fiscal 1998. The net loss for the quarter amounted to $476,730, or $0.03 per share, compared with a net loss in the corresponding period last year of $340,461, or $0.03 per share. Product revenues for the quarter were restricted to the sale of WebPainter 3 for the Macintosh, as the WebPainter for Windows 95/98/NT was released at the end of the fiscal quarter.
''1998 was a transition year for Internet Multimedia. The continued
growth in bandwidth and usage rates has created an increasing demand for Internet multimedia,'' stated Brian Leeners, President and CEO, Totally Hip Software Inc. ''The Web Development and Academic markets have been early adopters of new technologies for creating animation, rich media and streaming media and this trend will continue to expand into the mainstream consumer and business markets. Our product offerings provide a full solution for Web multimedia with the pricing model and ease of use that end users are asking for.''
During the recent quarter, Totally Hip Software continued to expand its
customer base through licensing agreements, direct and online sales. Among the noteworthy deals completed during the quarter were a new licensing/bundling agreement with Macmillan Publishing and the renewal of a licensing/bundle agreement with Apple Computer (NASDAQ: AAPL). In the Academic market the Company signed several multi-district licensing deals including agreements in the States of Iowa and Washington. International distribution agreements have now been concluded in Australia, Belgium, Italy, the Netherlands, and the
United Kingdom.
The December 31, 1999 Quarterly Report can be viewed or downloaded from Totally Hip Software's Web site: totallyhip.com
Totally Hip Software Inc., founded in 1995, designs, develops and markets a full suite of award-winning Macintosh and Windows software for creating Internet multimedia including WebPainter(TM), Amazing Image Tools(TM) and LiveStage(TM) software. The Company is traded on the Alberta Stock Exchange (ASE:THW). (C) 1999 Totally Hip Software Inc. All rights reserved.
THE ALBERTA STOCK EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED OF THE
CONTENTS OF THIS PRESS RELEASE.
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For further information: Corporate Communications (604) 685-6525
ext.224, info@totallyhip.com, http:/www.totallyhip.com |
