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I'll start with their latest news release as it just about tells everything. InfoNow Announces Record Year: 1998 Revenues More Than Double to $2.5 Million; Year End Backlog More Than Triples to $4.8 Million DENVER, Jan. 28 /PRNewswire/ -- InfoNow Corporation (OTC Bulletin Board: INOW - news) today announced record financial results for its fourth quarter and its fiscal year ended December 31, 1998. Revenues in the fourth quarter were $857,000, an increase of 26% over the previous quarter and an increase of 135% over fourth quarter 1997 revenues of $365,000. The company reported a fourth quarter net loss from continuing operations of $225,000 or 3 cents per share compared to a net loss of $297,000 or 6 cents per share for the fourth quarter of 1997. Revenues from continuing operations in 1998 grew 127% to $2.5 million compared to $1.1 million in 1997. The company also reduced its losses from continuing operations for the year by 31% to $1.1 million or 18 cents per share compared to a net loss of $1.6 million or 30 cents per share in 1997. ''We exceeded our revenue goal and ended the year with more than $4.8 million in contracted backlog, a greater than three-fold increase over year-end 1997,'' said Michael Johnson, the Company's Chief Executive. ''We were especially encouraged by sales in December and January, which included multi-year contracts for new and expanded services to companies such as Comerica, First Union, Hewlett Packard, IBM, Intel, Novell and UPS representing over $3.1 million in future revenues. The ongoing service fees from these new sales will begin to offset recent investments in our marketing and selling efforts targeted toward further accelerating our revenue growth. Based on our current projections, we have accelerated our targeted profitability to the second quarter of 1999.'' About InfoNow Corporation InfoNow helps leading international companies Turn Prospects Into Sales through a modular suite of web-based, one-to-one marketing technologies. InfoNow outsources these services via the Internet to clients in ten countries, including eight of the ten largest global computer and networking firms and six of the eight largest banks in North America, as well as other industry leaders like Allstate, American Airlines, FedEx, Maytag, Shell, Transamerica, United Healthcare, and Visa. For more information, please visit www.infonow.com. | ||||||||||||||
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