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Gold/Mining/Energy : Microforum (MCF:TSE) -- Ignore unavailable to you. Want to Upgrade?

To: Gemini who wrote (3886)	1/18/2001 10:10:09 AM
From: Lino...	Respond to of 3896

Microforum Inc. (TSE:MCF) a leading software products and internet solutions company today commented on its outlook for the third quarter of fiscal 2001, ended November 30, 2000. On December 1, 2000, the company announced plans to focus on its core e-business operations and to discontinue certain non-core operations. The revenues from the discontinued operations will therefore be excluded from reported revenues. As a result, reported revenues will be below analyst expectations. The company expects to report a loss from continuing operations before interest, tax, depreciation and amortization in the range of $5.5 to $6.5 million. The loss is expected to include charges aggregating $4.3 to $5.3 million in respect of a higher than usual provision for doubtful accounts related to the downturn in the economy as well as costs related to the refocusing of the business. The company also advises its net loss will include significant charges for the impairment of goodwill and an accrual for estimated losses of discontinued operations from November 30, 2000 to the expected disposal dates. Results for the third quarter will be released on or before January 29, 2001. About Microforum Inc. Microforum creates, sells and services exceptional software products and internet solutions. Toronto-based Microforum has offices in Halifax, New York and Seattle. Microforum is listed on The Toronto Stock Exchange (TSE: MCF). For more information, please visit www.microforum.com. Forward-Looking Statements Investors should take note that certain statements in this press release are forward-looking and may not give full weight to all of the potential risks and uncertainties. These forward-looking statements include statements that are subject to risks and uncertainties. Forward-Looking statements are subject by their nature to risks and uncertainties, and actual results, actions or events could differ materially from those set forth in the forward-looking statements. Any forward-looking statements speak only as of the date made. The company is not undertaking to update any information in the foregoing reports until the effective date of its future reports required by the securities laws. Martha Cass, Senior Director, Corporate Communications, Microforum Inc., (416) 467-4015, 1-866-467-4055, marthac(at)microforum.com; Or Meg Sintzel, Genoa Communications Inc., (416) 962-3300, msintzel(at)genoainc.com ____________________________________________________________ (c)2001 Market News Publishing Inc. All rights reserved.