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Technology Stocks : Proginet Corp -- Ignore unavailable to you. Want to Upgrade?

To: David Michaud who wrote (194)	6/7/1999 10:35:00 PM
From: David Michaud	Respond to of 229

Proginet Corporation - Proginet's second-quarter results Proginet Corporation PRF.U Shares issued 13,623,951 1999-02-04 close $0.7 Friday Feb 5 1999 Mr. Kevin Kelly reports Revenues were $1,227,864 for the second quarter, up 10 per cent from the same period last year when revenues were $1,116,236. New licence revenues for the quarter were up over 30 per cent compared to last year. The company reported a profit of $203,693 or 1.5 cents per share, compared to a loss of $556,000 or four cents per share in the comparable quarter last year. Results for the quarter were better than expected, reflecting improvement in both revenue growth and expense control. On a six-month basis, Proginet reported a profit of $339,366 compared to a loss of $1,347,826 for the same period last year. For the first time, more than 50 per cent of Proginet's new licence revenue was attributed to SecurPass, the company's flagship security software product. The Vancouver Stock Exchange has accepted the company's filing of a notice of intention to make a normal course issuer bid in respect to 300,000 shares of common stock. Proginet will use the brokerage firm of CIBC Wood Gundy Securities Inc. of West Vancouver to be its broker for the execution of the bid. The bid will commence Feb. 12, 1999 and will continue until the earlier of the date on which 300,000 shares have been acquired and Feb. 12, 2000.