Conace improves second quarter revenues
Conac Software Corp COT
Shares issued 8,205,234 Mar 11 close $0.74
Fri 12 Mar 99 News Release
Ms. Jacqueline Michael reports
The company has posted product and service revenue of $584,019 for the
second quarter ended Jan. 31, 1999, an increase of 72 per cent over the
first quarter ending Oct. 31, 1998.
Total revenues for the six month period ended Jan. 31, 1999 were $923,275,
an increase of 45 per cent over the six month period ended Jan 31, 1998.
The increase in revenues was primarily due to the marketing campaign
launched in October 1998. The United States subsidiary made a significant
contribution to revenues in the second quarter and the company anticipates
that U.S. revenues will continue to strengthen for the remainder of the
year.
Expenses for the second quarter ended Jan. 31, 1999 were $1,197,306, an
increase of 3 per cent as compared with the first quarter ended Oct. 31,
1998. Expenses for the six month period ended Jan. 31, 1999 were $2,361,373
as compared with $846,248 for the same period in the prior year.
Loss for the quarter ended Jan. 31, 1999 was $613,287 a decrease of 26 per
cent as compared with the quarter ended Oct. 31, 1998. Loss for the six
months ended Jan. 31, 1999 were $1,438,098 compared with a loss of $229,848
for the same period in the prior year.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
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