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Non-Tech : Starnet (SNMM)Online gaming, sexsites, lottery, Sportsbook -- Ignore unavailable to you. Want to Upgrade?

To: Peder E. Angvall who wrote (655)	9/16/1998 5:40:00 PM
From: M_Power	Respond to of 8858

Looks like they followed it up as an afterthought... ;0) Starnet International Files First-Quarter Results WILMINGTON, Del.--(BUSINESS WIRE)--Sept. 16, 1998--Starnet Comm. (OTC Bulletin Board:SNMM - news) Starnet Communications International Inc. (NASD OTC-BB: ''SNMM'') (''Starnet'') is pleased to announce the filing of its financial results under Form 10-QSB for the quarter ended July 31, 1998 (the ''Period''). ''Record-breaking revenues and profitable operations are strong indications of our company's momentum,'' commented Starnet's Chairman and CFO, John Carley. Revenues for the Period totaled $1,537,259, an increase of 116.7 percent from $709,337 in the previous fiscal year's first quarter, and an increase of 36.3 percent from the preceding quarter. The increase was attributed to revenues generated from Starnet's growing licensing and gaming operations. Revenues from wholly owned software licensing subsidiary Softec Systems Caribbean Inc., which is expected to become a major income source, accounted for over 30 percent of total revenue for the Period. Operating expenses - mainly further enhancement and development of Starnet's Internet gaming technologies - totaled $839,450. Although a 79.8 percent increase from $466,808 in the same period last year, these costs are a comparatively reduced percentage of sales - a decrease from 65.8 percent to 54.6 percent due to efficiencies gained from increased activity. Starnet reported net earnings for the Period of $102,516. It is anticipated by management that a majority of Starnet's operating expenses may become fixed in nature in the short to medium term, and may therefore become a diminishing percentage of future revenues. Starnet is a fully reporting, publicly held company, which identifies and commercializes Internet technologies for established entertainment markets. The statements in this press release may contain certain forward- looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Exchange Act of 1934, and is subject to the safe harbor created by these sections. Actual results may differ materially from Starnet's expectations.