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

To: David Michaud who wrote (195)	6/7/1999 10:36:00 PM
From: David Michaud	Respond to of 229

Proginet Corporation - Year end results Proginet Corporation PRF.U Shares issued 13,076,680 1998-11-19 close $0.49 Friday Nov 20 1998 Mr. James Kelly reports Total revenues for the fiscal year 1998 were $3,644,926 versus $3,860,364 for the fiscal year 1997. The company reported a net loss of $1,930,112 or 15 cents per share for the period versus $2,246,112 or 17 cents for the same period last year, which included a onetime tax adjustment of $841,664. As previously announced, Proginet has settled a contract dispute with a customer in Europe resulting in a onetime payment to Proginet of $525,000. This payment net of fees resulted in an additional net income of $380,328 which was not included in the revenue number reported above. Revenues for the fourth quarter were $755,866 plus the onetime event of $525,000 compared to revenues of $120,806 for the same period last year. For the quarter, the company reported a net profit of $ 44,133, or zero cents per share versus a net loss of $1,998,833 or 14 cents per share for the same period last year (excluding a onetime adjustment for taxes).