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AccelGraphics, Inc. to Present at the BancAmerica Robertson Stephens Technology ' 98 Conference
02/26/98
PR Newswire
(Copyright (c) 1998, PR Newswire)
BANCAMERICA ROBERTSON STEPHENS TECHNOLOGY ' 98 CONFERENCE , SAN FRANCISCO, Feb. 26 /PRNewswire/ -- AccelGraphics, Inc. (Nasdaq: ACCL) is emerging as a leading provider of high-end 3D/2D graphics subsystems for the rapidly growing professional Windows NT workstation market. The company's products are designed to provide cost-effective graphics acceleration transforming NT workstations into high-performance 3D/2D computing tools -- with the performance and quality only previously experienced on significantly more expensive UNIX workstations. By providing this less expensive solution, AccelGraphics customers benefit from greater productivity and competitive advantages as they can afford to install more units than in the past.
AccelGraphics is uniquely positioned as it targets the niche professional graphics market while most of its competitors focus primarily on the lower-end consumer market. The company has received numerous product awards that highlighted the superb performance and quality of its products. Professional graphics users cross a number of industries, including mechanical design, electronic design, animation, scientific, financial services, and oil and gas. The first-to-market with 3D graphic subsystems for these lower-cost professional workstations, AccelGraphics now has one of the industry's largest professional NT installed bases (approximately 150,000 units). In 1997, revenues increased to $33.5 million, a 79% gain over the $18.7 million reported in the prior year.
The company also moved closer to profitability in 1997 as the net loss was reduced to $100,000 versus a net loss of $900,000 in 1996. Sales growth is expected as AccelGraphics expands and moves its products through an extensive worldwide distribution channel supported by strategic alliances with PC manufacturers, value-added resellers and distributors. Following the company's IPO in April 1997, AccelGraphics maintains a healthy balance sheet with $22 million in working capital, long-term obligations of $700,000 and stockholders' equity of $24.3 million.
During 1997, AccelGraphics achieved a number of important milestones, including adding new or expanding relationships with existing OEMs, such as Acer America, Gateway 2000, Hewlett-Packard and Hitachi. The company also expanded its worldwide distribution efforts, highlighted by the early 1998 announcement of a new relationship with Ingram Micro, Inc. the leading worldwide wholesale distributor of technology products and services.
Looking to the future, AccelGraphics' strategic plan should enable the company to further penetrate the market for 3D/2D graphics subsystems for NT workstations. Management remains committed to executing on this strategic plan, and in 1998 anticipates expanding its OEM relationships, increasing product availability through its distribution channel and introducing new and upgrade versions of its products.
For more information, visit AccelGraphics' website at accelgraphics.com.
This document contains forward-looking statements that may involve risks and uncertainties and actual results and outcomes may differ materially from those discussed. Factors that might cause such differences include, but are not limited to, inability to expand OEM and distributor relationships, unforeseen delays in the introduction, manufacture and distribution of new products, as well as those not announced, risks associated with dependence on OEM, Ingram Micro and other third-party relationships, new product development, higher than expected operating expenses, product maturity, new technology, sales in Asia, international operations, unforeseen operational problems, and other risk factors described in the Company's registration statement on Form SB-2 and periodic reports on Form 10-Q as filed with the SEC during 1997.
/CONTACT: Jeffrey Dunn, Chairman & CEO, or Nancy Bush, Chief Financial Officer of AccelGraphics, Inc., 408-546-2100; or General, Lisa Horn Chainey, or Investors, Nancy Hansen of Financial Relations Board, 415-986-1591, for AccelGraphics/ 10:00 EST |
