NEWS OUT!! (COMTEX) B: Heartsoft Reports 60% Increase in Revenues for 4th Fiscal
B: Heartsoft Reports 60% Increase in Revenues for 4th Fiscal Quarter; March
1999, Marks Fourth Consecutive Month of Increased Revenues
TULSA, OKLA. (April 6) BUSINESS WIRE - April 6, 1999--Heartsoft, Inc.
(OTC BB:HTSF), publisher of educational software products for children,
announced today that net revenues for the 3 months ending March 31,
1999, were $161,000 compared to $101,000 for the same period one year
ago, representing a 60% increase.
According to Heartsoft Chairman and Chief Executive Officer, Benjamin
Shell, "Traditionally, the first calender quarter represents a gauge by
which we can forecast revenues through the rest of the calendar year,
assuming all things being equal. However, 1999 represents an
unprecedented period in the company's growth where many factors, most
of which have yet to become public, are coming together to
significantly impact Heartsoft's growth.
"We are only now beginning to see the results of the numerous
expansions in our national and international distribution efforts.
Unlike many highly competitive business environments, the education
market moves considerably slower in contrast. As a result, investments
made in sales and marketing infrastructures take a little longer to
germinate.
"Once the sales pipeline is full, results can be long-lasting and
significant. We are really looking forward to making further
announcements on the major events unfolding behind the scenes. We
expect that the Heartsoft you see now will only be a shadow of what we
will look like a quarter or two down the road," said Shell.
Recently, the company has announced distribution agreements with
nearly a dozen national and international software distributors. The
most recent sales agreement is with Target IT of Singapore for
distribution of the company's newest software lines to all of
Singapore's state-run primary schools, worth approximately $200,000 in
revenues to Heartsoft during the 1999-2000 school year.
"While distribution agreements vary in size and commitment from one
distributor to another, we anticipate that each distributor we sign
will have a measurable impact on revenues and profits this year," said
Shell.
"Between the addition of these resellers and the recent expansion of
our internal sales team, which pursues sales on a school district-wide
level, we expect that 1999 will be an outstanding year for our
shareholders."
The company also said that it anticipates the announcement of several
school district-wide adoptions of its new critical thinking product,
Thinkology(R), in the very near future.
In other news, Heartsoft's marketing efforts have been significantly
augmented by the company's announcement that it had released new
versions of its educational software titles compatible with Microsoft
Windows 98(R) (Nasdaq:MSFT) and Apple iMac(R) (Nasdaq:AAPL).
Heartsoft's support of Windows 98 and the iMac significantly expands
the company's ability to support hardware manufacturers such as Apple
Computer, Dell Computer Corp. (Nasdaq:DELL), Compaq Computer Corp.
(NYSE:CPQ), and Gateway, Inc. (NYSE:GTW), which represent the most
widely used platforms in schools and by parents. Heartsoft is a pioneer
in educational software publishing along with noted companies like The
Learning Company (NYSE:TLC) and Scholastic (Nasdaq:SCHL).
About Heartsoft
Heartsoft, Inc. publishes and distributes a line of multimedia
educational software products for schools and homes nationwide.
Headquartered in Tulsa, Heartsoft is acknowledged among educators as
the price-vs.-performance leader, delivering such product classics as
the Heartsoft Bestsellers and its latest release, Thinkology, with
unsurpassed customer satisfaction and loyalty. Heartsoft's web pages
may be viewed at heartsoft.com and
thinkology.com.
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. These
statements involve risks and uncertainties that could cause actual
results to differ materially from those anticipated. Such risks and
uncertainties include, but are not limited to, the impact of
competition; uncertainties in demand for and market acceptance of the
company's products; changes in trade practices and the risk of trade
practice litigation; and the risks of developing products. These and
other risks are described in the company's periodic SEC reports and
filings.
-0- djm/dx*
CONTACT: Heartsoft, Inc., Tulsa
Patsy Sims, 918/251-1066
patsysims@heartsoft.com
KEYWORD: OKLAHOMA INTERNATIONAL ASIA PACIFIC
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS COMED
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