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Gold/Mining/Energy : BPI, Big Picture Technologies -- Ignore unavailable to you. Want to Upgrade?

To: blue_chip who wrote (24)	10/21/1999 1:20:00 PM
From: blue_chip	Read Replies (1) \| Respond to of 249

Big Picture third quarter results Big Picture Technologies Inc BPI Shares issued 16,294,250 Oct 20 close $0.95 Thu 21 Oct 99 News Release Mr. Michael Anthony reports Third quarter revenue for the period ending Sept. 30, 1999, of $460,421, increased by nearly 50 per cent over the previous quarter and is more than twice that recorded for the same period last year. "Traditionally, the third quarter is the slowest period of the year for the software industry. We are gratified to have achieved, in this single quarter, revenue that exceeds the total generated in all of 1998," said Michael Anthony, Big Picture president and chief executive officer. "Even more encouraging is the fact that third quarter results do not include prerelease orders for eMERCHANT pro or Smart Site 3.0, which will be shipped soon. With a banner year well in hand, the company can now turn its attention to fourth quarter sell-through for these new products, and lay the groundwork for a solid first quarter next year," Mr. Anthony added. For the nine months ending Sept. 30, year-to-date revenue of $964,920 compares with $371,952 for the same period last year. Year-to-date gross margin of $836,857 has increased from $244,591 for 1998. Expenses for the third quarter of $615,683 are 14 per cent below budget and include an investment in sales and marketing initiatives of $280,031, primarily centred around the launch of two new products. Net loss for the quarter is $195,390. Year-to-date net loss of $348,185 compares with a loss of $383,976 for the same period last year. "Big Picture has generated and sustained momentum on all key fronts," Mr. Anthony said. "Our e-commerce products continue to enjoy expanding market acceptance, and strategic business partners and resellers have reacted with enthusiasm to our new products such as eMERCHANT pro. During the quarter, we have more than doubled our investment in product development and marketing, positioning the company for sustained and accelerated growth." (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com