Intasys Reports 1998 Results
Business Wire - April 21, 1999 14:30
TORONTO--(BUSINESS WIRE)--April 21, 1999--Intasys Corporation (Nasdaq:INTA) Intasys Corporation (the "Company")
(Nasdaq:INTA) today reported its financial results for 1998.
Sales increased to $4,197,799 in 1998, almost 2.8 times sales of $1,527,221 in 1997. The Company reported a net loss of
$2,668,950 ($0.33 per share) for the year as compared with the $2,113,920 loss ($0.39 per share) in 1997. All figures are reported
in US dollars. As at December 31, 1998 there were 12,093,523 shares outstanding, although the weighted average number of
common shares was 8,181,192.
Sales of $1,175,050 for the fourth quarter ended December 31, 1998 resulted in a loss of $1,300,468 ($0.15 per share), compared
to sales of $244,927 and a loss of $1,051,809 ($0.19 per share) for the comparable 1997 period.
The Company made significant investments in its expansion into the United States and Canada in 1998 and these investment
are continuing. This expansion included the acquisition of the Company's operations in Ottawa, Canada, the implementation of
service bureaus in Atlanta and Ottawa as well as sales and market development. The expansion into these North American
markets, in concert with the completion of the Company's latest generation Java front end software systems, form the
foundation for continued exponential growth in the years ahead.
Stephen J. Roth, Chairman, commented: "We are particularly excited with the profitable operating results from our European
and Asia/Pacific operations. These are well developed markets for us and are solid indications of the reception our billing and
customer care products are beginning to enjoy in the U.S and Canada."
Philip Davis, President, added: "In North America we concluded 1998 with several contracts in place and under negotiation.
This provided the launching pad necessary to begin a successful 1999 which is ahead of budget. In recent months we have
negotiated various strategic industry partnerships which are expected to provide the technical resources and market presence
required to sustain this growth." |
