Net Shepherd News Release
Net Shepherd Reports First Quarter Results
CALGARY, May 14 /CNW/ - Net Shepherd Inc., (ASE: WEB) today announced that revenues for the quarter ended March 31, were $1,429,422, a 300% increase compared to revenue of $494,991 for the same quarter last year. For the three months ended March 31, 1999 the Company reported a loss of $135,650 compared with a loss of $232,098 for the three-month period ended March 31, 1998.
During the quarter, the company focused on strengthening its management team and successfully recruited a marketing, business development and sales team, which will focus on negotiating commercial agreements for the Internet Community Management Tools Version 2.0 which were launched on April 23, 1999. The new commercial team includes Ray Marchand, who joined the company as VP Business Development from Shaw Communications where he was responsible for the @Home Internet service. Brad Fogal, joined NSI as Director of Sales from Cadvision, and Corey Don joined as Director, Marketing from McLean Marketing where he consulted to several high technology companies on marketing strategy. Thomas McGovern joined NSI to head the Sales Force Automation Business from Pitney Bowes.
"Several customers and new prospects are eager to use our next generation Internet Community Management System and advance its application to business intelligence and e-business opportunities." stated Don Sandford, President and Chief Executive Officer of Net Shepherd Inc. "We are forging ahead with the completion of the tools and database under an existing development agreement with ClickChoice.com. The completion of the tools will trigger the start of a maintenance agreement which will positively impact future revenues."
Net Shepherd Inc. is a leading provider of business solutions to corporations that want to transform the way we do business using the power of the Internet. The Corporation offers a full line of Internet community software and system integration solutions. Additional information on Net Shepherd Inc. is available at netshepherd.com. Net Shepherd Inc. is traded on The Alberta Stock Exchange under the symbol WEB.
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