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Gold/Mining/Energy : Infowave Wireless Messaging IW:TSE -- Ignore unavailable to you. Want to Upgrade?

To: blue_chip who wrote (287)	4/29/1999 3:48:00 AM
From: blue_chip	Read Replies (3) \| Respond to of 1690

INFOWAVE REPORTS RECORD SALES FOR RETAIL PRINTING SOLUTIONS AND WIRELESS COMPUTING SOLUTIONS IN FIRST QUARTER OF 1999 First quarter OEM bookings eclipse total 1998 OEM shipments Burnaby, British Columbia, April 29, 1999 - Infowave Software, Inc. (VSE: IWM) today reported financial results for the first quarter ended March 31, 1999. The company posted record sales for its retail printing solutions and wireless computing solutions. "All of us at Infowave consider this first quarter performance to be the strongest in the history of the company," said Jim McIntosh, president and CEO. "By exceeding our first quarter objectives, we are now ahead of schedule on a long list of aggressive financial and business goals for 1999. The retail printing business is maintaining aggressive growth and first quarter OEM bookings with our growing roster of major printer manufacturers provide the foundation for a very profitable year. Infowave's pioneering work in wireless computing is now gaining traction with corporate America as we nearly doubled the number of wireless customers in the first quarter. Finally, we expect to announce watershed strategic agreements in the second quarter that will cement our leadership position in this business." HIGHLIGHTS Infowave jumped out of the gate fast in 1999 by racking up first quarter sales of $2.6 million, up 51% over the first quarter of 1998. Infowave continued to build momentum in both its businesses - Imaging and Wireless - by shipping more retail printing solutions and more wireless solutions than ever before in its 15-year history. High-margin retail printing sales and wireless computing sales contributed to consolidated gross profit margins of 70% … up sharply from 54% in 1998. Leveraging the success of its retail products, Infowave's Imaging business was profitable for the third quarter in a row, posting earnings of $0.02 per share. Infowave is positioned for strong quarterly growth through 1999. The OEM business that Infowave has already booked in 1999 eclipses total OEM shipments in 1998, both measured by gross profit contribution. Infowave further strengthened its leadership position among major printer manufacturers as the dominant developer of Apple printing solutions. OEM shipments continued in the first quarter with partners Ricoh and Lexmark, new business was booked with partner Hewlett-Packard and new strategic alliances were struck with Brother and Samsung. First quarter shipments of Infowave's best-selling PowerPrint package were up 62% over 1998. This compares to a 27% year-over-year increase in the shipments of Apple computers. PowerPrint momentum also defied the traditional first quarter seasonal drop with shipments up 13% over the previous quarter. PowerPrint continued to earn awards and top ratings. First quarter accolades included ITALIA Mac (4½ out of 5), MacToday (4¾ out of 5), MacUser UK (4½ out of 5), a "Reviewers Choice" award from MacNow magazine and an "Editor's Choice" from MacWorld UK for best iMac® hardware. Infowave launched its first wireless initiative outside of North America with Singapore's leading wireless data operator, ST Mobile Data Pte Ltd. (STMD), a member of technology-based multinational conglomerate Singapore Technologies Group. STMD will sell and distribute Infowave's wireless computing solutions to corporations in Singapore and Indonesia. Infowave's rapidly-growing profile in the wireless computing business was fuelled by an aggressive conference schedule. Infowave was a high-profile participant at CTIA Wireless '99 in New Orleans, EMA '99 in Dallas, Spring Internet World in Los Angeles and Spring COMDEX in Chicago. Infowave was also selected by BellSouth and Microsoft as one of only 15 companies invited to participate in BellSouth Microsoft Day at BellSouth headquarters in Atlanta. Infowave moved closer to eligibility for listing its stock on a U.S. stock exchange or market when its Form 20-F registration statement became effective in February. Infowave is now a reporting company in the United States and Infowave's stock can now be solicited and traded by licensed broker-dealers in the U.S. in compliance with Securities and Exchange Commission ("SEC") regulations. infowave.com