InterFace is in with their Third Quarter...and all I got to say is I believed in them.
Wednesday August 4, 1:08 pm Eastern Time
Company Press Release
SOURCE: Interface Systems, Inc.
Interface Systems Reports Improved Third Quarter Results
Surging Sales of Internet Software Products Drive Revenue and Margin Growth
ANN ARBOR, Mich., Aug. 4 /PRNewswire/ -- Interface Systems, Inc. (Nasdaq: INTF - news) today announced that an almost 200% increase in sales of its Document Server and Internet Application software products contributed to increased revenue and improved profitability for its third quarter ended June 30, 1999.
Third quarter net income increased to $229,000, or $.05 per share, on revenue that increased 8% to $5.2 million versus a net loss of $67,000, or $.02 per share, on revenue of $4.8 million in the same quarter a year ago.
For the nine-month period, the Company reported a net loss of $83,000, or $.02 per share, on revenue of $15.3 million versus a net loss of $2.4 million, or $.55 per share (including a loss from discontinued operations of $.57), on revenue of $15.5 million in the same period a year ago.
Robert A. Nero, president and CEO, said increased software sales more than compensated for declining in printer revenue resulting from the company's de- emphasis of these products and from the divestiture in June of the Company's printer service business. He added that the Company is increasingly focused on higher margin Internet software sales that have the potential for exponential growth.
''Our revenue mix will continue to change dramatically in coming quarters due to strong market interest in our newer software products and services. Overall sales of software tools and applications increased by 28% from the comparative third quarter,'' Nero said. He noted in particular growing customer interest in eBill Manager(TM) and MyCopy(TM), which are software tools that enable delivery of bills and statements over the Internet.
''In divesting non-strategic, lower-margin elements of our business, we are better able to pursue the unprecedented growth opportunities presented by the Internet,'' Nero added. ''We have a ideal mix of cutting-edge technology, talent, and market opportunity, an impressive base of customers from our traditional businesses, and we are optimistic about our long term prospects to achieve our growth and profitability objectives.''
About Interface
Interface System Inc.'s Legacy-to-Internet (L2i(TM)) technology allows any Internet application to access and make full use of data stored on legacy systems. Document Server, along with Interface's eBill Manager(TM) and MyCopy(TM) applications, converts mainframe content and output into formats that can be viewed, printed, archived, faxed or sent via e-mail. The company specializes in Internet bill presentment and payment, as well as electronic delivery of statements and other legacy content. Interface helps its customers extend the life, the reach, and the value of their existing information systems. Interface is headquartered in Ann Arbor, Mich., and markets its products worldwide. More information on Interface and its products can be found at: www.intface.com
Uncertainties Relating to Forward-Looking Statements
This press release contains ''forward-looking statements'' within the meaning of the Securities Exchange Act of 1934, as amended, based on current management expectations. Actual results could differ materially from those in the forward-looking statements due to a number of uncertainties, including, but not limited to: lower demand for our Cleo EN products, general economic conditions particularly related to demand for the Company's products and services, changes in Company strategy, product life cycles, competitive factors (including the introduction or enhancement of competitive products), pricing pressures, component price increases, delays in introduction of planned hardware and software products, software defects and latent technological deficiencies in new products, changes in operating expenses, inability to attract or retain sales and/or engineering talent, changes in customer requirements and evolving industry standards.
biz.yahoo.com
I always thought they should have been a $5 stock now I'm leaning towards $10.
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