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Microcap & Penny Stocks : Veronex Technologies Inc. (VXTK) -- Ignore unavailable to you. Want to Upgrade?

To: Ralph Timothy McCabe who wrote (505)	2/1/1999 10:26:00 AM
From: TEDennis	Read Replies (1) \| Respond to of 684

Earnings: Monday February 1, 8:45 am Eastern Time Company Press Release SOURCE: Veronex Technologies, Inc. Veronex Announces Third Quarter Earnings IRVINE, Calif., Feb. 1 /PRNewswire/ -- The Board of Directors of Veronex Technologies, Inc. (''Veronex'') (OTC Bulletin Board: VXTK - news) today announced the results of operations for the third quarter of fiscal 1999. Veronex reported earnings of $7,266,000 or $1.04 per share for the three months ended November 30, 1998, as compared to a net loss of $8,000 or $0.001 per share for the three months ended November 30, 1997, on revenues of $15,317,000 and $210,000 respectively. For the nine months ended November 30, 1998 Veronex reported earnings of $7,449,000 or $1.07 per share, as compared to a net loss of $137,000 or $0.02 per share for the nine months ended November 30, 1997, on revenues of $17,400,000 and $250,000 respectively. For the third quarter of fiscal 1999 Veronex had substantial revenues from the sale of licensing and distribution agreements of its I\|Nova System. Veronex structures its strategic alliance licensing agreements with an initial licensing fee plus a revenue sharing feature. Additionally, Veronex has completed several new Teaming Agreements with established systems integrators which are expected to generate revenues and cash flow in fiscal 1999. The I\|Nova System offers unique features which distinguish it as the best of breed solution for business application software problems created by outdated legacy source code in business applications systems, including an automated Year 2000 solution. ''As a Y2k solution and testing tool, the I\|Nova System is unsurpassed. As Y2k compliance efforts enter the final phase of testing and verification, Veronex anticipates massive systems failures because the 'complete system' was not made Y2k compliant,'' stated David A. Hite, Chairman and CEO. ''The I\|Nova System's automated re-engineering capabilities offer businesses experiencing Y2k related systems failures the best opportunity to solve their systems problems. Veronex anticipates the Y2k related systems failures to generate substantial new business in the months ahead.'' Veronex Technologies, Inc. (OTC Bulletin Board: VXTK - news) designs, develops, licenses and supports computer software products for complete enterprise wide management application development and implementation for competitive, innovative and flexible business solutions. The Company's I\|Nova System is a fully integrated business application development, modernization and migration tool-set which has been ITAA *2000 Certified. The I\|Nova System includes the proprietary DataCentric Analyzer, an automated application migration tool and Y2k solution tool. Veronex is awaiting patent approval for the DataCentric Analyzer. This statement includes forward-looking information as that term is defined in the Private Security Litigation Reform Act of 1995, and therefore, is subject to certain risks and uncertainties. There can be no assurance that actual results, business conditions, business developments, losses and contingencies and local and foreign factors will not differ materially from those suggested in the forward looking statements as a result of various factors, including market conditions, competition, advances in technology, and other factors. For more information please contact: Veronex Technologies, Inc. at its WEB Site at veronex.com or call David A. Wooldridge at (949) 253-9600 or fax (949) 253-9677. SOURCE: Veronex Technologies, Inc. Above text copied from: biz.yahoo.com