Printer Friendly
The Free Library
19,573,952 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

A1 Announces Third Quarter 2000 Results.


Business Editors/High-Tech Writers

ROCKVILLE, Md.--(BUSINESS WIRE)--Nov. 16, 2000

Revenues, Based On Year-Over-Year, Increase 154% For The Quarter

and 441% For the Nine Months, Ended September 30, 2000.

A1 Internet.Com, Inc. (OTCBB OTCBB

See OTC Bulletin Board (OTCBB).
:AWON AWON American World War II Orphans Network ) a full-service Communication Solution Provider of Internet development, connectivity, systems integration, telecommunications, and e-commerce services, announced today that revenues from continuing operations continuing operations

Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the
 for the quarter ended September 30, 2000 increased 154% to $2,775,060 versus $1,093,947 for the comparable quarter last year. Gross profit increased to $1,156,315, in comparison with $569,849, for the 1999 period.

Losses from continuing operations before interest, taxes, depreciation and amortization, ("EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become ") for the third quarter of 2000 were $32,255 versus EBITDA losses from continuing operations of $824,561 in the equivalent 1999 period.

During the quarter, the Company reduced headcount in areas where it was able to outsource the technology, which should result in payroll and benefit savings of approximately $60,000 per quarter.

"We are very pleased with our revenue growth, and more importantly, our focus on expense containment has started to pay off. During the quarter we were able to create unique communications bundles and signed several significant distribution contracts that will enable us to achieve even better results going forward," said Bruce Bertman, Chairman and Chief Executive Officer. "Going forward, our main focus for the balance of the year is to position the Company to be cash flow positive from continuing operations. The entire company has focused everyone on improving operational efficiencies and increasing the utilization of our billable customer base. We have reduced our overlapping infrastructure to keep costs under control, and increased our utilization of our supplier's available resources."

Revenues from continuing operations for the nine-month period ended September 30, 2000 increased 341% to $8,238,388, versus revenues of $1,867,789 in the comparable 1999 period. EBITDA losses from continuing operations for the first nine months of 2000 were $711,866 versus EBITDA losses of $1,896,675 in the equivalent 1999 period.

The Company reported a loss from continuing operations for the third quarter of $842,282 or $0.08 per diluted di·lute  
tr.v. di·lut·ed, di·lut·ing, di·lutes
1. To make thinner or less concentrated by adding a liquid such as water.

2. To lessen the force, strength, purity, or brilliance of, especially by admixture.
 share, compared to a net loss of $1,068,181, or $0.11 per diluted share, last year. The loss from continuing operations attributable to common shareholders for the first nine months of 2000 was $2,915,707, or $0.30 per diluted share, versus a loss $2,363,622, or $0.30 per diluted share, for the comparable period in 1999.

About A1 Internet.com

A1 provides comprehensive, cost-effective Communications Solutions to businesses and organizations with a total turnkey approach. Services are designed to enable companies to operate more efficiently by outsourcing (1) Contracting with outside consultants, software houses or service bureaus to perform systems analysis, programming and datacenter operations. Contrast with insourcing. See netsourcing, ASP, SSP and facilities management.  their Internet work, communications, e-commerce, and database needs. A1 offers web development, design, connectivity, database applications, distance learning, and information integration programs. Services include web programming, e-commerce, web site hosting, dial-up, xDSL, Long Distance Service, and e-mail access. The company focuses on the affinity market that targets small businesses and the SOHO Soho (sōhō`, sə–), district of Westminster, London, England, known for its continental restaurants. Once a fashionable quarter, it became popular among writers and artists in the 19th cent.  market. The company's bundled services web site can be viewed at http://www.worldteq.com

Certain of the above statements contained in this press 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.
 that involve a number of risks and uncertainties. The words "believe", "estimate", "intend", "anticipate", and similar expressions and variations thereof identify certain of such forward-looking statements, which speak only as of the dates on which they were made. Such forward-looking statements are within the meanings of that term in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and  of 1995 provides a "safe harbor Safe Harbor

1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated.

2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive.
" for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by A1): contains statements that are forward-looking, such as statements relating to relating to relate prepconcernant

relating to relate prepbezüglich +gen, mit Bezug auf +acc 
 consummation CONSUMMATION. The completion of a thing; as the consummation of marriage; (q.v.) the consummation of a contract, and the like.
     2. A contract is said to be consummated, when everything to be done in relation to it, has been accomplished.
 of the transaction, anticipated future revenues of the companies and success of current product offerings. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ materially from those expressed in any forward-looking statements made by or on behalf of A1 Internet.com Inc.
COPYRIGHT 2000 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2000, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Nov 16, 2000
Words:710
Previous Article:BRG Townsend Projects Electronic Chemicals to Grow At Over 9% a Year.
Next Article:LifePoint Hospitals, Inc. Completes Sale of Springhill Medical Center.



Related Articles
Yamaha DSP-A1.
Surround-Sound Upgrades, Adjustments, and Discounts.
HMMWV weapon shield.
CORRECTIONS.
Sony network audio system NAS-A1 and 5V LCD display AUDP-A1.
TRANSFORMING TREATMENT.
JOHNSON GETS ONE SWEET RIDE.
Pneumonic plague cluster, Uganda, 2004.
POOR SHOWING HAS HERTA EAGER FOR START OF IRL SEASON.
Air pre-cleaner kits.

Terms of use | Copyright © 2012 Farlex, Inc. | Feedback | For webmasters | Submit articles