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Strategies & Market Trends : e-Commerce the Next 100 Months...... -- Ignore unavailable to you. Want to Upgrade?

To: AugustWest who wrote (2468)	4/6/1999 9:01:00 PM
From: TLindt	Respond to of 2882

>>>Why they beating them? I think IMO it had to do with EBS 3, both NetB@nk & Chase seemed delayed in their launch...and are both edify customers...can you say bugs?(ie how do you get a lot of non-billable serivce work? Fix something that ain't working correctly comes to mind, dealing with software like I have)...I'm guessing. If so seems to be fixed and working properly now....I'm satisfied anyway, after being dis-satisfied with NTBK service for months prior...ie..I can get on NetB@ank about 99.99% of the time first try under the new EDFY platform. Press don't say much..so I'm really reading a lot into it...all IMO. Monday April 5, 8:37 am Eastern Time Company Press Release SOURCE: Edify Corporation Edify Corporation Announces Preliminary First Quarter Results SANTA CLARA, Calif., April 5 /PRNewswire/ -- Edify Corporation (Nasdaq: EDFY - news) today announced that, based on a preliminary analysis of its results of operations, it expects to report revenues for the first quarter ended March 31, 1999 of approximately $16 million, an increase of approximately 16 percent over the first quarter of 1998. The company expects to report a net loss for the first quarter of 1999 in the range of $6.0 to $6.5 million, or approximately $0.35 loss per share for the first quarter. According to Jeffrey M. Crowe, President and CEO of Edify, ''Revenues for the first quarter were well below expectations in both the license and service areas. On the license side, a significant percentage of our potential license revenue remained unclosed at the end of the first quarter. Additionally, although the competitive environment does not appear to have worsened during the first quarter, we have seen some moderation of demand for call center and employee services applications as widely reported by other vendors serving these markets.'' ''Although service revenues were up approximately 20 percent from a year ago,'' Mr. Crowe continued, ''our service revenues fell short of plan largely due to a mismatch between the specific service resources available and the particular customer service demands we encountered during the quarter. In addition, we incurred a significant amount of non-billable service work during the quarter in order to complete several key projects, which resulted in a diversion of resources from our more profitable service and consulting deployments. Although these actions were in the best long-term interest of the company, it did impact our profitability substantially.'' ''Meanwhile, customers continue to embrace the Edify solution to personalize their self service interactions with customers and employees,'' Mr. Crowe said. ''Our customers remain enthusiastic about our technology with our first quarter showing a good mix of new and follow-on business. We recorded a number of large transactions in the first quarter, and we believe our competitive offering is robust. In particular, financial services continued to show strength, posting a sequential increase in license revenues over the fourth quarter. We will increase our focus on those areas where we can maximize value for our shareholders. We remain convinced of our opportunities for growth.'' The company will announce its first quarter results on April 21, 1999. About Edify Corporation Edify Corporation is a leading provider of enterprise self service solutions used by Global 2000 organizations. The company's software enables enterprises to automate, integrate, and personalize interactions with customers and employees through multiple channels, yielding stronger, more profitable relationships. The company's software has been licensed to more than 1,200 organizations worldwide. Edify software is distributed directly and through leading solutions providers, application partners, and distributors worldwide. With more than 440 employees, Edify Corporation is headquartered in Santa Clara, California, with international headquarters in London, England. Additional information about Edify may be obtained by calling 408-982-2000 (USA) or +44 181 263 2710 (Europe, Middle East, Africa) or via the World Wide Web at edify.com. Forward-Looking Statements This press release contains forward-looking statements concerning the company's expectations and beliefs which are subject to a number of risks and uncertainties. Actual results may differ materially. In particular, the preliminary results reported in this press release are subject to change and may differ significantly from actual results reported at a future date. The company's efforts to increase its focus on areas where it can maximize value for its shareholders may not prove fruitful and investors should not rely on the likelihood of any such changes, should they occur, to significantly change the company's operating characteristics. In addition, there can be no assurances that the company's intention to improve its performance in the foreseeable future will be realized. Widely publicized Y2K issues in the industry at large may have an impact on the company's ability to gain business for the balance of 1999 and into early 2000. The company operates with little if any backlog and continues to recognize a substantial portion of its quarterly revenues in the final weeks of each quarter. See also the additional risks set forth in the company's Form 10-K for the year ended December 31, 1998 and those described from time to time in the company's other filings with the Securities and Exchange Commission, press releases and other communications. SOURCE: Edify Corporation --------------------------------------------------------------------------------