UVEW news:
Thursday May 13, 7:01 am Eastern Time
Company Press Release
uniView Technologies Reports Third Consecutive Quarter of Increased
Revenue Growth
DALLAS--(BUSINESS WIRE)--May 13, 1999--For the third consecutive quarter, uniView Technologies Corp. (Nasdaq:UVEW - news) reports significant growth in revenues. For the period ending March 31, 1999, the company recorded revenues of $2.51 million compared to $58,000 in
the same quarter last year, while operating expenses decreased to $2.44 million from $3.68 million the same quarter 1998. Improvements also occurred in earnings per share, which were (0.19) for uniView's third fiscal quarter 1999 vs. (0.70) same period 1998.
Additionally, for the nine-month period ending March 31, 1999, uniView's revenues rose to $9.3 million vs. last fiscal year's same period revenues of $189,000. During this nine-month period, the
company's net loss was lowered to $4.5 million compared to a $7.9 million operating loss in the nine-month period ending March 31, 1998.
''With our business model complete, long-term contracts in place and new partnerships solidified, we definitely are on a positive trend upward,'' said Patrick A. Custer, president and CEO of uniView
Technologies. ''In particular, we look forward to realizing continued revenue growth from recently announced agreements with PSINet, FreeLinQ, Domintel, Southwestern Bell, and Motorola.''
Three Months Ended Nine Months Ended
------------------------- -------------------------
March 31, March 31, March 31, March 31,
1999 1998 1999 1998
----------- ----------- ----------- -----------
Revenues $ 2,510,921 $ 58,019 $ 9,256,336 $ 189,393
Net loss 2,469,048 3,678,934 4,467,442 7,871,053
Loss per share (0.19) (0.70) (0.38) (1.70)
Weighted avg
common shares
outstanding 13,298,044 5,299,214 11,854,100 4,541,310
Dallas-based uniView Technologies is the nation's only IT consultant that offers the expertise and innovative tools necessary to create fully customized interactive and e-commerce solutions. Building
on a foundation rooted in convergence technology and a deep understanding of business operations and the end user, uniView merges proprietary and partner Internet access technologies with existing
applications to deliver the future of interactive networking products and services.
In 1997, uniView introduced its first revolutionary set top box and, today, its Advanced Systems Group (ASG) uses convergence devices and integration expertise to design custom networks for clients in multi-level marketing, hospitality, utilities, banking, and telecommunications. In addition to complete IT consulting, ASG also offers Web site development and hosting, and full Internet service,
while uniView's Product Group focuses on research, product development and customer service.
More information on uniView is available at uniview.net.
NOTICE: Some of this information may contain ''Forward Looking Statements'' which are company plans, projections and uncertainties. For a discussion of risk factors associated with some of these
plans and projections, please refer to the company's SEC filings, which contain additional discussion about those factors which could cause actual results to differ from management's expectations.
Contact:
uniView Technologies Corp.
Neal J. Katz, 214/503-8880 (Investor Contact)
nkatz@uniview.net
or
Edelman Public Relations Worldwide
Allison Ellis/Holly Vershum, 214/520-3555 (Media Contact)
aellis@edelman.com or holly_vershum@edelman.com
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