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Technology Stocks : Y2K (Year 2000) Stocks: An Investment Discussion -- Ignore unavailable to you. Want to Upgrade?

To: bob who wrote (13365)	12/8/1998 8:30:00 AM
From: bob	Respond to of 13949

Click here to Buy and Sell Products NOW! [ Business \| US Market \| By Industry \| IPO \| AP \| S&P \| International \| PRNews \| BizWire ] Tuesday December 8, 6:01 am Eastern Time Company Press Release SOURCE: Accelr8 Technology Corporation Accelr8 Technology Earns $.01 Per Share for Quarter Ending October 31, 1998 DENVER, Dec. 8 /PRNewswire/ -- Accelr8 Technology Corporation (Nasdaq: ACLY - news), the leading provider of Year 2000 conversion tools and legacy systems modernization solutions for the Digital Equipment Corp. (DEC-Compaq) market, announced earnings for the quarter ending October 31, 1998: Total revenues: $728,508 as of 10/31/98 vs $1,629,889 as of 10/31/97 Net income after tax: $79,456 as of 10/31/98 vs $868,196 as of 10/31/97 Earnings per share (diluted): $.01 as of 10/31/98 vs $.11 as of 10/31/97 The company's chairman, Thomas Geimer, acknowledged the difficult market environment for year 2000 tools, but said, ''As 1999 progresses, CEOs and investors will become more concerned about the potential for business interruptions caused by year 2000 non-compliance.'' Geimer noted that while quarter-to-quarter revenues are difficult to forecast, the company anticipated a ''panic'' buy of tools by corporations, government and services providers as shortages of qualified, affordable programmers push organizations towards higher productivity from existing resources. ''The need to assess, fix and test large quantities of mission critical applications code will force the need for user friendly, efficient Y2K tools,'' Geimer said. While the company experienced decreases in product license revenue and consulting fees compared to a year ago, the quarterly results of $.01 per share as of October 31, 1998 were significantly better than a loss of $.04 per share for the quarter ending July 31, 1998. During the most recent quarter, Accelr8 showed a 33% increase in its ''migration'' tools revenue over first quarter 1997 results. Two major sales accounted for a third of the quarter's revenue; a UNIX version of MIGR8 to Northrup Grumman for JSTARS, and the first release of MIGR8 on NT to debis Systemhaus (the software development division of Daimler-Benz Germany). Another significant milestone this quarter was the commencement of royalty revenue from the Digital Y2K factories. This income represents the increased demand that Digital predicted as its customer base starts to address year 2000 compliance in their mid-tier systems. Accelr8 is currently beta-testing its newest release of Navig8 2000 toolset -- Navig8 2000 for the Enterprise -- which is based on client/server architecture featuring a JAVA GUI (graphical user interface) that will be downloadable from the Accelr8 website and be capable of analyzing any source code on any platform for year 2000 compliance. The new release will be sold under the company's ''seat based'' price model with the entry level price of $9,999. The company believes that its new version of Navig8 will not only appeal to those organizations who are just beginning their Y2K projects, but more importantly, can be used by those organizations who have finished their Y2K assessments and remediations and need a quick and effective tool for independent verification and validation (IV&V) before commencing the test phase. Accelr8 recently provided one of the world's largest defense contractors with specifications for verifying 7,000,000 lines of mission critical code and was named to a select team of subcontractors to support this effort. Thomas Geimer, CEO Email: info@accelr8.com URL: www.accelr8.com SOURCE: Accelr8 Technology Corporation