MySoftware Company Announces Record Quarterly Results
Gross Revenue Up 38% Over Q1 1998
Revenues and Net Income at Record Levels
April 21, 1999 04:13 PM
PALO ALTO, Calif., April 21 /PRNewswire/ -- MySoftware Company MYSW , a leader in Internet direct marketing services and software for small businesses, today announced results for the three-month period ended March 31, 1999. The announcement marks another record-setting quarter for the Company.
For the three months ended March 31, 1999, MySoftware's revenues increased 38 percent to $4.3 million from $3.1 million in the same quarter last year. For the first quarter, MySoftware reported a net income of $299,000, or $.06 per share, compared to a net loss of $190,000, or $.04 per share a year ago.
The increase in revenues was due primarily to continued success in the core annuity, Original Equipment Manufacturers (OEM), and retail channels. The Company was also very pleased with the revenues to date generated by the Internet Marketing Services Group, for which MyProspects.com is the primary product offering.
The Company had $4.7 million in cash and cash equivalents and working capital of $5.1 million as of March 31, 1999. MySoftware has no debt.
"I am glad to start 1999 with another record quarter in terms of revenues and net income. Revenues are up across the board, as are profits," said Gregory Slayton, president and CEO. "We are working full speed to develop and expand our position in the Internet direct marketing space, especially in the small business sector. The higher first quarter expenses in product development and Web marketing reflect our dedication in this area. However, the entire MySoftware team is committed to continuing to be one of the few profitable and growing Internet companies."
Slayton added: "We are strategically positioning our Internet services to provide future revenue growth for the Company. We believe that we are the only company in the world with a complete direct marketing solution for small and medium sized businesses, and we intend to build on that position. We are now partnering with some of the strongest small business-focused brands on the Internet, such as Intuit, Netscape, and ZDNet. We have also reached an agreement with Apple and successfully ported MyProspects to the Macintosh platform in Q1. Furthermore, small business leaders Ameritech and Pitney Bowes have chosen to private label MyProspects.com and market it directly to their millions of small business customers. With a proven business model, best of breed Internet services and software, and a growing line-up of world class partners, we hope to become a leader in the rapidly growing Internet direct marketing services space."
About MySoftware Company
MySoftware Company combines powerful software with effective, affordable Internet and annuities solutions to easily turn any PC into a direct marketing powerhouse. MySoftware's complementary Internet services are dedicated to helping businesses find new customers (www.MyProspects.com) to grow their businesses. MySoftware actively works with some of the world's best-known companies to provide productivity solutions for their small business customers. More information on MySoftware and its alliances and products is available at www.MySoftware.com.
Forward-Looking Statements
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