Finally, some encouraging news. A 1 cent profit should be good for a 20 - 30 cent share price once stability is seen by investors to be more certain and further growth is projected.
Attention Business/Financial Editors:
ANGOSS Software Corporation - preliminary results show profitable fourth quarter and fiscal year
TORONTO, Jan. 27 /CNW/ - (ASE: ANC) - ANGOSS Software Corporation,
developer of the industry leading KnowledgeSEEKER and KnowledgeSTUDIO data
mining solutions, today released preliminary unaudited results for the
November 30, 1998 fiscal year, reporting a fourth quarter and annual profit
with increased revenues, reduced operating expenses, and positive cash flow
from operations compared with 1997 results.
Selected unaudited financial information is as follows:
Unaudited. All amounts in Canadian Dollars (000's)
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For the 3 months For the fiscal
ended % year ended %
November 30 Change November 30 Change
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1998 1997 1998 1997
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Revenues $2,354 $776 203 $4,183 $3,478 20
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Gross Margin 2,273 703 -- 3,891 3,063 --
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Operating Expenses 851 992 (14) 2,856 4,780 (40)
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Net income (loss) 1,333 (444) -- 363 (2,389) --
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Earnings (loss) per
share - basic and
fully diluted $0.04 ($0.01) $0.01 ($0.07)
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Results for both the fourth quarter and the fiscal year were positively
impacted by the previously announced KnowledgeSTUDIO source code licensing
agreement with Hummingbird Communications concluded in September, 1998.
Additional transactions were concluded during the fourth quarter with several
industry leading enterprises, including Citigroup, Allstate Insurance, Deluxe
Financial Services, Discover Card, Chase Manhattan Bank, CIGNA, GMAC,
Household International, RV Insurance, Harte-Hanks, and Sears Roebuck.
''ANGOSS is continuing to strengthen its position as the leading data
mining 'pure play' in the business intelligence arena', commented Eric Apps,
ANGOSS President. ''Its product platform, customer base, and industry
partnerships are exceptional. From this base ANGOSS is well positioned to
deliver the advanced data mining and visualization solutions the most
sophisticated business enterprises in the financial services, telecom, retail
and health care sectors are seeking to unlock the value of their data.''
Data mining requirements form a key component of business intelligence
and decision support systems for advanced business enterprises in such areas
as customer relationship management (CRM), supply chain management (SCM) and
enterprise resource planning (ERP). Data mining solutions are also becoming
increasingly important components for Web based data analysis and
transactional systems, including e-commerce and EDI solutions. ''ANGOSS is
working hard to broaden its relationships with its existing customers, target
and close business with new customer prospects, build out its sales force, and
accelerate its investments in product development'', Apps commented. ''In
addition to our continuing improvement of our core products, we have some
exciting additional product offerings which we expect to be commercially
available during the first half 1999 fiscal year''.
Audited results for ANGOSS are expected to be distributed to shareholders
in connection with its annual meeting to be held in April, 1999.
Lon Vining, Chief Financial Officer, commented that improvements in the
financial position of ANGOSS have enabled the company to proceed with new
initiatives in the sales, marketing and development areas. ''Fourth quarter
results were clearly exceptional and it is important for us and for investors
to understand that. Although we will continue to focus on revenue growth, we
expect continuing fluctuations in quarterly performance as we build out the
business. Our outlook for 1999 is one of cautious optimism'', he noted.
''General economic factors, fluctuations in equity markets, and the continuing
preoccupation among businesses with Y2K will all be significant factors.
However, if we continue to meet our baseline revenue expectations, we expect
to show improved revenue growth and increased profitability during the 1999
fiscal year.''
This press release may contain forward-looking statements relating to the
future performance of ANGOSS Software Corporation. Forward-looking statements,
specifically those concerning future performance and the achievement of
operating profitability are subject to certain risks and uncertainties, and
actual results may differ materially. These risks and uncertainties include
the risk of possible customer disappointment or dissatisfaction with ANGOSS
products, and any resulting failure to expand the user base as anticipated by
the Company; the Company's limited operating history and losses; increases in
expenses; unproved market acceptance of the Company's products and services;
technical uncertainties related to releases of new or modified products and
adapting products to specific customer requirements; risks involving
management of growth; competition and the introduction of new entrants and/or
new products in the Company's markets; product development risks and risks of
technological change; the risk of unanticipated expenses or asset
reevaluations; and other risks and uncertainties described in filings with the
Alberta Securities Commission.
ANGOSS Software Corporation, headquartered in Toronto, Canada, is a
leading developer and vendor of data mining solutions for use by business
enterprises and the developer, consulting, enterprise application and research
communities that service them, focussing on Global 2000 enterprises in the
financial services, telecommunications, health care, retail and manufacturing
sectors. ANGOSS has offices or representatives worldwide, including the United
States, the United Kingdom, Germany, Japan, and South America.
KnowledgeSEEKER, KnowledgeSTUDIO and KnowledgeConsultants are trade marks of
ANGOSS Software Corporation.
For information on becoming a distributor or reseller of KnowledgeSEEKER
and KnowledgeSTUDIO contact info(at)angoss.com.
Note: The Alberta Stock Exchange has neither approved nor disapproved
the above information.
-0- 01/27/1999
For further information: Lon L.E. Vining, Chief Financial Officer, (416) 593-2420, lvining@angoss.com
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Release sent courtesy of Canada NewsWire Portfolio Email.
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