1mage Software Reports Third Quarter Financial Results -- Revenue from New Customers Up 101% from Q3 2001.Business Editors ENGLEWOOD, Colo.--(BUSINESS WIRE)--Nov.7, 2002 1mage mage n. A magician or sorcerer. [From Middle English mages, magicians, variant of magi; see magus.] Software Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ISOL), a developer of enterprise document imaging and management software for business and industry, today reported its financial results for the third quarter, ended September 30, 2002. Revenue for the third quarter was $655,000, up from the $610,000 reported in the second quarter of 2002, but down from the $716,000 reported in the third quarter of 2001. Net income for the third quarter of 2002 was $43,000, or $.01 per share. This compares with net income for the third quarter in 2001 of $56,000, or net income of $.02 per basic share, and a net loss of $84,000, or $(.03) per share, for the second quarter of 2002. David R. DeYoung, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , stated, "We were pleased with our third quarter financial results, as revenue from new customers increased 101% over third quarter 2001. Most of our new business has come from customers that are replacing competing systems with our system running on the increasingly popular Linux platform. Our strategy of offering "a choice" to buyers is having a positive impact on our results."
EARNINGS RECAP
Three Months Three Months Nine Months Nine Months
ended ended ended ended
09/30/2002 09/30/2001 09/30/2002 09/30/2001
Revenue $ 654,795 $ 716,059 $1,782,024 $2,328,902
Income/(Loss)
from
Operations 45,451 55,020 (181,515) 340,156
Net Income/
(Loss) 43,257 55,688 (184,754) 334,456
Earnings/
(Loss)
Per Share $.01 $.02 $(.06) $.10
About 1mage: 1mage Software Inc. is a leading provider of document management and workflow automation See workflow. systems for Linux(R), UNIX UNIX Operating system for digital computers, developed by Ken Thompson of Bell Laboratories in 1969. It was initially designed for a single user (the name was a pun on the earlier operating system Multics). (R), and Microsoft Windows See Windows. (operating system) Microsoft Windows - Microsoft's proprietary window system and user interface software released in 1985 to run on top of MS-DOS. Widely criticised for being too slow (hence "Windoze", "Microsloth Windows") on the machines available then. environments. The company's flagship product A primary product of a company, which is typically why the company was founded and/or what made it well known. For example, MS-DOS, Windows and the Microsoft Office suite have been flagship products of Microsoft. CorelDRAW is a flagship product of Corel Corporation. , 1MAGE, converts business documents of any origin into electronic images, and manages them throughout their lifecycle. 1mage's entire product line is marketed through a direct sales force and a network of value-added resellers A value-added reseller (VAR) is a company that adds some feature(s) to an existing product(s), then resells it (usually to end-users) as an integrated product or complete "turn-key" solution. (VARs). The company also operates a Professional Services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. Group offering project management, consulting, installation, training and application image-enabling services. For more information, call 800/844-1468, or visit www.1mage.com. Statements expressing the beliefs and expectations of 1mage Software management regarding future performance are forward-looking and involve risks and uncertainties, including but not limited to: market demand for products, the overall demand for imaging software, maintenance of adequate cash flow to sustain operations, quarterly fluctuations in financial results, and other risk factors identified from time to time in 1mage Software's reports filed with the Securities and Exchange Commission, copies of which may be obtained at www.sec.gov or by written request submitted to 1mage Software. Brands and products referenced herein are trademarks or registered trademarks of their respective holders. |
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