Net Perceptions, Inc. Reports First Quarter Revenue Up 183%
MINNEAPOLIS, May 24 /PRNewswire/ -- Net Perceptions, Inc. (Nasdaq: NETP -
news) today announced its financial results
for the first fiscal quarter ended March 31, 1999. Total revenues for the first quarter of
1999 increased 183 percent to approximately $1.9 million from revenues of
approximately $670,000 for the same period in 1998. The net loss for the quarter ended
March 31, 1999 was approximately $2.9 million compared to
approximately $876,000 for the same period in 1998, including amortization of deferred
stock compensation of $503,000 and $7,000 in the first quarters of 1999
and 1998, respectively. Pro forma basic and diluted net loss per share was $0.19 for the
quarter ended March 31, 1999, compared to a net loss of $0.07 per share
in the first quarter of 1998.
''We are very pleased with our overall performance in the first quarter,'' said Steven
Snyder, president and chief executive officer. ''The results represent strong
execution across all functions of the company as we continue to build our leadership
position and momentum in the e-commerce personalization marketplace.''
During the first quarter, Net Perceptions continued to expand its client list, adding 17 new
license customers, including Dean and Deluca, Micron Electronics and
Virgin Megastore Online. This brings the total Net Perceptions customer base to more
than 85 accounts worldwide. In addition, Net Perceptions entered into
product distribution agreements with Futurelink Distribution Corporation, Media Serve,
Inc. and Net Force, Inc. |
