canoe.com
Tuesday, June 01, 1999
Money News
Microforum reports macro growth
TORONTO (CP) -- Microforum Inc., a supplier of electronic
commerce solutions whose stock has soared this spring, reported
Tuesday that revenue more than quadrupled and it posted a solid
profit in its most recent quarter.
Revenue in the fourth quarter ended Feb. 28 was $6.8 million, up
from $1.5 million a year earlier, with a net profit of just under
$540,000 or three cents a share, compared with a year-earlier loss of
$4.2 million.
For the full year, revenue increased more than 450 per cent, to $29.1
million from $5.2 million, and the loss was reduced to $2.9 million or
17 cents a share, from $8 million.
"Having worked hard to reposition Microforum throughout the
year we are now emerging as one of the leaders in providing
e-commerce and Internet solutions to Fortune 1000 companies,"
Microforum president Howard Pearl said in a statement.
Microforum shares, which surged in April from under $1.50 to
touch $12, traded up 90 cents at $7.55 after the release of its financial
report Tuesday.
The company aims to provide one-stop shopping -- from
technology and Web page design to advertising, public relations
and direct mailing -- for companies seeking to do business
electronically.
Since the end of the quarter, Microforum has acquired Software
Guaranty Inc. for $3.1 million. In its most recent quarter Software
Guaranty reported
revenue of $1 million with a profit of $80,456.
Microforum's wholly owned subsidiaries include Internet Frontier
Inc., Software Guaranty, PPL Marketing Services, Marshall Fenn
Communications and Poste Haste Systems. |
