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Microcap & Penny Stocks : SEDONA Corporation (SDNA) -- Ignore unavailable to you. Want to Upgrade?

To: Ted Zeilstra who wrote (530)	11/17/1998 2:08:00 AM
From: Ted Zeilstra	Respond to of 731

Scangraphics® Announces Record Revenues for 3rd Quarter 1998 Expects revenues and earnings to continue to improve quarter to quarter Limerick, PA - November 17, 1998 - ScangraphicsÒ, Inc. (NASDAQ: SCNG), reported revenues of $1,728,000 for the three months ended September 30, 1998, an increase of 29%, as compared to $1,337,000 a year earlier. The loss for the three months ended September 30, 1998 was $945,000 or $.05 per share, as compared to a loss of $2,341,000 or $.15 per share for the three months ended September 30, 1997. The Company indicated further that its third quarter results are in line with expectations, with revenue increasing 12% over the second quarter, and the Company is expecting to show quarter-to-quarter sequential improvements in revenues and earnings for the remainder of 1998 and into 1999. Additionally, the Company reported nine month revenues of $4,481,000, an increase of 24%, as compared to $3,620,000 a year earlier. The loss for the nine months ended September 30, 1998 was $5,095,000 or $.27 per share, as compared to a loss of $5,104,000 or $.32 per share for the nine months ended September 30, 1997. The Company reported that its net loss before preferred dividends decreased by 65% to $804,000 for the third quarter of 1998, as compared to $2,285,000 for the same quarter a year earlier. Larry Osterwise, President and CEO of Scangraphics, Inc. stated that "I am pleased to report that the Company, again led by Tangent Imaging Systems, has achieved record revenues in the 3rd quarter. Tangent Imaging Systems revenues are rapidly growing and enabling profitability. I am also pleased to report that Technology Resource Centers has received key contracts and achieved record backlogs." Mr. Osterwise went on the say that "I am particularly pleased to report of the very positive acceptance of Sedona's SpatialVisionÔ at Oracle OpenWorld '98, in San Francisco last week. The launch of SpatialVision has opened exciting, almost limitless opportunities for our Company. Our Company is experiencing dynamic growth in all aspects, and we must continue to focus our energies and assets to ensure that we achieve our goals at a pace commensurate with the many opportunities available to us."