Numbers aren't exciting at all! I hope they deliver in the next few quarters.
August 17, 5:58 am Eastern Time
Company Press Release
SEDONA Corporation Reports Second Quarter 1999 Results
LIMERICK, Pa.--(BUSINESS WIRE)--Aug. 17, 1999--SEDONA Corporation (NASDAQ: SDNA - news), reported revenues of $1,082,000 for the three months ended June 30, 1999, as compared to $1,542,000 a year ago.
The loss for the three months ended June 30, 1999 was $1,268,000 or $.06 per share, as compared to a loss of $1,219,000 or $.06 per share a year ago. The Company indicated further that its second quarter results are in line with expectations, when giving consideration to the Company's growth strategy, and its transition from a hardware-based company to an internet/network-based business intelligence software provider.
Additionally, the Company reported revenues of $1,675,000 for the six months ended June 30, 1999, as compared to $2,753,000 a year ago. The loss for the six months ended June 30, 1999 was $2,997,000 or $.14 per share as compared to a loss of $4,152,000 or $.22 per share for the six months ended June 30, 1998.
Larry Osterwise, President and CEO of SEDONA, indicated that, ''While our second quarter in not impressive, the progress we are making on our growth strategy -- to rapidly make the transition from a seller of large format scanners to a provider of business geo-intelligence solutions -- is quite impressive! We are making real progress with several strategic partners, including Oracle and Acxiom, and we are particularly pleased with the response to Acxiom's Solvitur CIMS product offering which includes our Sedona SpatialVision as a key part of its implementation.''
Mr. Osterwise added that, ''In follow-up to comments that I made in an earlier release, I continue to be very excited by the reception that SEDONA's software products are receiving in this rapidly growing market. I am also pleased to comment that we are very close to completion of the redemption of the Series E Convertible Preferred that was initially announced in May. I expect this transaction to be behind us very soon, thanks to the confidence of the investment community.''
About SEDONA Corporation...
SEDONA Corporation, headquartered in Limerick, Pennsylvania, develops and markets enterprise scale business geo-intelligence solutions that focus on ease of use, interoperability, Internet accessibility and intuitive visualization of geographic components of enterprise data.
Through strategic industry alliances, SEDONA is uniquely positioned to address the needs of Oracle database customers. The vision of the company is to enable business clients to turn real-time and warehoused data into relevant visual information from which informed decisions are made to swiftly improve bottom-line results. SEDONA and its operating companies can be found on the Web at www.sedonacorp.com.
Forward Looking Statements...
Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statement containing words such as ''believes'' ''anticipates'' ''plans'' or ''expects'' and other statements which are not historical facts contained in this release are forward-looking, and these statements involve risks and uncertainties and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in these forward-looking statements.
Contact:
SEDONA Corporation
Vicki Franchetti, 610/495-3003 x214
Fax: 610-495-3092
www.sedonacorp.com
vickif@sedonacorp.com
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