:( never liked fri nite announcements
SEDONA Corporation Disappointed With 1st Quarter Results
LIMERICK, Pa.--(BUSINESS WIRE)--April 9, 1999--SEDONA Corporation (Nasdaq: SDNA - news), formerly Scangraphics, Inc., announced today that its preliminary operating results for the first quarter of 1999 will not continue the trend of quarter to quarter improvement, due, in part, to an overall industry slowdown in sales of large format scanners which had been the primary source of the Company's revenue in the past.
Larry Osterwise, President and CEO of SEDONA, stated that, ''While I am very disappointed with these results, in many respects this serves to supports our strategy and efforts aimed at making the transition from a seller of large format scanners and other hardware products to a provider of spatial and imaging software products and services. This strategy was highlighted by the recent renaming of the Company.''
Mr. Osterwise went on to say that, ''Our progress in selected application areas and with several strategic partners, including Oracle Corporation, Acxiom Corporation, Information Advantage, and Sun Microsystems, has moved us further and faster than earlier anticipated. We are very pleased to have our first major customer of Sedona SpatialVision in Acxiom's Solvitur CIMS implementation.
''From the beginning of our development activities in the first half of 1998, to our announcement of Version 1.0 of Sedona SpatialVision last August as an inexpensive, intuitive application for accessing, analyzing, and visualizing enterprise geo-spatial data stored in legacy Oracle databases, and finally to our formal launching of SpatialVision, running on Oracle 8i at Oracle Open World in San Francisco last November, we have made great strides with SpatialVision and we look forward to its continued commercial rollout.''
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