I hope it will run
eule
ALIF ---->
Artificial Life Announces Positive Second Quarter 1999 Results
PR Newswire - August 10, 1999 07:45
BOSTON, Aug. 10 /PRNewswire/ -- Artificial Life, Inc. (Nasdaq: ALIF), a leading provider of intelligent software bots for the Internet, today
announced financial results for the quarter ended June 30, 1999. Revenues for the quarter were $1,136,977, an increase over 870% compared to
revenues of $116,362 for the second quarter of 1998, and an increase of 159% over revenues of $439,423 in the first quarter of 1999. The net loss
for the quarter was $1,209,129, a 71% increase over $707,309 for the first quarter of 1999. Cumulative revenues through the second quarter
exceeded revenues for the entire fiscal year 1998 by $1,125,632.
Eberhard Schoneburg, president and CEO of Artificial Life said, "The second quarter was even better than the first and better than expected. Our
second quarter revenues exceeded the budget by over 13%. In fact, cumulative revenues through June exceeded cumulative revenues reported for the
whole fiscal year 1998 by 250%. We are pleased with the progress Artificial Life has made this year. Our staff has nearly doubled since the last
quarter, reaching close to 200, a significant increase compared to our staff of 13 in the second quarter of 1998. Additionally, we are pleased that the
net loss for the quarter was about 34.5% less than anticipated by the management."
The strong revenue growth during the second quarter was driven largely by licensing and consulting fees. During the quarter, Artificial Life entered into
a business understanding with PricewaterhouseCoopers (PwC) in Germany and is currently preparing a similar cooperation in the U.S. "The PwC
management was impressed with our production site in St. Petersburg and the progress of our product development to date. It looks like we are on
track and will have cooperation with the professionals of PwC worldwide," Schoneburg said. "We will first focus on the financial services industry and
Internet-based customer care and relationship solutions. The contract we won recently from Liechtenstein Global Trust to enhance the Web site of two
of their publicly traded investment companies with our WebGuide technology shows that the financial services industry is beginning to recognize our
technology as leading edge," Schoneburg added.
During the second quarter, Artificial Life installed the first Enterprise version of its natural language bot, ALife-WebGuide(TM). Beta testing is currently
in progress for its second product, ALife-Messenger(TM). ALife-Messenger can act as a natural language-based automated e-mail reply for customer
service and support by automatically reading and responding to incoming e-mails. A third product, Albert Einstein ALife, an interactive, bot-based
learning CD-ROM for the end-user market was also released, and is available in German.
"Looking ahead to the remainder of the year, we will continue to establish our brand and increase name recognition, particularly among Fortune 1000
companies. We will bolster our marketing and sales efforts by hiring additional experienced sales and marketing staff. Currently, we are known mainly
by word of mouth and individual recommendations from our clients. This will change as we implement our business plan to become a global provider
of intelligent software bots for the Internet," Schoneburg said.
About Artificial Life
Founded in 1994, Artificial Life, Inc. develops, markets and supports intelligent software bots. ALife's products bring personality to the Web through
the use of natural language. The smart bots automate e-mail messaging, call centers and sales responses, manage financial portfolios, search for
information, create and report on user profiles, manage knowledge, and help users navigate Web sites. Artificial Life is headquartered in Boston,
Massachusetts, U.S.A. and can be reached at 617-266-5542 or on the World Wide Web at artificial-life.com .
Forward-looking statements in this press announcement are based on management's current expectations. These and other risk factors are detailed in
the Company's filings with the Securities and Exchange Commission. Factors that could cause future results to differ materially from such expectations
include: the impact of the Year 2000 computer problem; the Company's change in primary business focus from software consulting to the
development, marketing and support of its Artificial Life, Inc. product suite of "intelligent" software robots; market acceptance of these products; the
still-evolving nature of the market for the Company's products; the Company's ability to respond to competitive developments; the Company's
dependence on third party contractors for development of its products; and the uncertainties related to the Company's planned international sales.
SOURCE Artificial Life, Inc.
/CONTACT: Ann Pascale Wiedenroth of Artificial Life, Inc., 617-266-5542,
or pascale.wiedenroth@artificial-life.com; or Christine Seketa of Hill and
Knowlton, 212-885-0350, or cseketa@hillandknowlton.com, for Artificial Life,
Inc./
/Web site: artificial-life.com |
