I love it!!!
From my perspective, here are the highlights of this release. Damn, this is nice to see!
Increased revenues, a third consecutive quarterly operating profit and a strengthened balance sheet.
- Q Revenues up 39 % to $790,264
- Gross Margin 95.7 (this is staggering!)
- Operating at a Profit this Q on top of the past 2 profitable quarters
- Six Month comparable Revenues up 10 percent
- Gross Margin increased by 6%
- Operating Expenses decreased 4 %
- Operating Profit is positive and improved by $245,834
- Net Loss was reduced by $432,316
- Loss per Share is $0.00
Important highlights from the discussion . . .
Growth in KnowledgeSTUDIO sales and growth in license renewal and upgrade revenues in both North America and the European Community.
Now shipping beta versions of KnowledgeExcelerator and KnowledgeAccess, data mining add-ins for Microsoft(r) Excel and Access
Beta products are expected to be commercially released (possibly in the 3rd Quarter of this year).
Cash and receivables increased 171 percent from $516,475 in 1998
to $1,397,232.
The balance sheet was strengthened as a result of the conversion of $242,500 of debt into 1,274,976 common shares (a conversion rate of $0.1902 per share)
The start of a pilot project with a major US based technology company involving the use of ANGOSS data mining technology for an Internet Website data analysis application.
Agreement enabling Internet access to the Acxiom Data Network from KnowledgeExcelerator and KnowledgeAccess, the data mining add-ins developed by ANGOSS for Microsoft(r) Excel and Access.
These add-ins are scheduled for commercial release in the third quarter of 1999.
ANGOSS will receive fees for use by customers of the Acxiom Data Network. These will be in addition to licensing revenues from product sales
Customer Analytics Inc. signed on to license the KnowledgeSTUDIO.
Other transactions during the period involved . . .
Firemen's Fund Insurance, MBNA, Bank of America, Bell Actimedia, Providian, GE Capital, Wachovia, Bata, Nestlé USA, General Electric, First Mahattan Consulting, Citibank, Advanta, McKinsey & Co., Glaxo Wellcome, Chase Manhattan Bank, Kimberley-Clark, Avon Products, Wells Fargo Bank, People's Bank, The Associates, Harris Bank, AIG, Equifax, Time Life, Pacific Internet and UNUM.
Commentary by Angoss Executives . . .
ANGOSS President Eric Apps
"We have seen continuing positive trends this quarter - both for the company and for the industry". "By focussing on the data mining space ANGOSS has developed a broad range of flexible, powerful, understandable and affordable data mining solutions that deliver value to our customers". "We have a strong position in this market. We have also created a development environment where ANGOSS and our partners can embed our data mining technology into a range of enterprise applications to deliver more intelligent, more automated and more useful business solutions to their customers".
Ken Ono, Vice-President, Technology
"The industry outlook is improving as a result of recently announced initiatives by Microsoft, Oracle and NCR to optimize their database platforms for data mining applications and solutions. "These announcements signal the growing recognition by major industry vendors that data mining solutions are an important piece of the business intelligence solutions marketplace. These and other vendors' database systems all require robust, accessible data mining interfaces - both for customers and for enterprise application developers who want to integrate their solutions with these vendors' database platforms. ANGOSS offers, by far, the most open and most well designed user and developer interfaces in the industry for data mining components. We also intend to take maximum advantage of these important database vendor initiatives over the next development cycle."
Lon Vining - Chief Financial Officer
"These results confirm the continuing improvement in our operations. We plan to continue investing primarily in sales and research and development areas as we position the company for accelerated industry demand for data mining solutions. If we can continue to report revenue growth, profit growth and prudent financial management, the company will be in a position to take the next steps that we believe are necessary in terms of financings, acquisitions, and migrating to US equity markets in order to cement our established position as an industry leader in the data mining space."
ANGOSS has offices or representatives worldwide, including the
United States, France, Germany, Japan, Mexico, Central and South
America, Scandinavia, and the United Kingdom.
Well folks, I will say again that I am very comfortable with what I have just seen. This company is showing sustained profitability with staggering Gross Margin levels. It has some dynamite Internet based products in beta test right now, and the market for these products, and the companies that make them are heating up!
Yup, I believe that we will have a very interesting and rewarding second half of the year!
Crazy Canuk |
