1MAGE Software reports first quarter results.ENGLEWOOD Englewood (ĕng`gəlw  d).1 City (1990 pop. 29,387), Arapahoe co., N central Colo., on the South Platte River, a residential and industrial suburb of Denver; inc. 1903. , Colo.--(BUSINESS WIRE)--May 16, 1997--1MAGE Software Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ISOL) posted results for its first quarter ended March 31, 1997. Revenue for the first quarter of 1997 advanced 38% to $531,518 compared to $384,736 in the first quarter of 1996. The company reported a first quarter loss from operations of ($105,533) vs. ($139,428) for the same quarter a year ago. Results for first quarter 1996 included a one-time one-time adj. 1. or one·time a. Occurring or undertaken only once: a one-time winner in 1995. b. gain of $110,838 due to the recovery of a prior bad debt. The net loss for the first quarter of 1997 was reported as ($108,516), or (5 cents) per share, compared to a net loss of ($27,998) or (1 cent) per share for the same period last year. 1MAGE Software President and Chief Executive Officer David DeYoung, said: "The 38 percent growth in revenue and the consistent 43 percent gross profit as a percentage of sales are positive signs that our increased investment in sales is beginning to show results. In addition, recently formed key alliances have enhanced our sales and distribution channels. As these new alliances start generating results and contribute to continued revenue growth, we believe the company will be in a strong position to post consistent revenue growth and profitability." 1MAGE Software's principal product, 1MAGE(R), is currently installed in more than 225 sites worldwide, with approximately 2,300 users. Some of the statements contained in this news release are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . The accuracy of these statements cannot be guaranteed as they are subject to a variety of risks including, but not limited to, future economic conditions, competitive products and pricing, new product developments, the delivery of products under existing contracts, and other factors. 1MAGE(R) is a comprehensive UNIX-based electronic document management and retrieval (imaging) system developed for MultiValue MultiValue is a type of multidimensional database, typically considered synonymous with PICK, a database originally developed as the Pick operating system. MultiValue databases include commercial products from IBM, Raining Data, jBASE, Revelation, Ladybridge, Intersystems, Relational See relational algebra, relational calculus, relational database, relational query and relational operator. Data Base Management Systems (RDBMS (Relational DataBase Management System) See relational database and DBMS. RDBMS - relational database ) users by 1MAGE Software Inc. of Englewood, Colo. 1MAGE(R) is marketed through a direct sales force and through an international network of resellers. For additional information, contact 1MAGE at 303/773-1424 or www.1mage.com . CONTACT: 1MAGE Software Inc., Englewood Demetrice Smith, 303/773-1424, ext. 124 dsmith@1mage.com |
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