ANGOSS Reports Continued Revenue And Profit Growth In First Quarter Results.Business Editors TORONTO--(BUSINESS WIRE)--March 27, 2000 ANGOSS Software Corporation (CDNX CDNX See Canadian Venture Exchange (CDNX). :ANC ANC abbr. African National Congress ANC African National Congress: South African political movement instrumental in bringing an end to apartheid ANC n abbr (= .), developer of the industry leading data mining solutions KnowledgeSEEKER(r), KnowledgeSTUDIO(r), KnowledgeExcelerator(tm) and KnowledgeAccess(tm), announced today its unaudited first quarter results, reporting 82% growth in revenues, increasing cash flow from operations Cash flow from operations A firm's net cash inflow resulting directly from its regular operations (disregarding extraordinary items such as the sale of fixed assets or transaction costs associated with issuing securities), calculated as the sum of net income plus noncash expenses , and strong bottom line growth with a sixth consecutive quarterly operating profit Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. . Revenues in the quarter were $1,130,744 (1999 - $620,775), an increase of 82.2% over 1999 results. Gross margin improved by 5.4% over the same period to $1,099,688 as a result of changes in business mix between KnowledgeSuite and Smartware business lines. Operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. increased to $818,842 (1999 - $569,910) primarily as a result of the hiring of additional personnel to support in progress business opportunities and increased sales and marketing activity. Summary details are as follows:
Three months Three months Three months
ended February 28, ended February 28, ended February 28,
2000 1999 1998
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Revenues $1,130,744 $620,775 $716,680
Gross Margin $1,099,688 $570,291 $619,395
Operating
Expenses $818,842 $569,910 $662,126
Operating
(loss) $280,846 $381 ($42,731)
Net Profit
(Loss) $235,531 ($116,642) ($296,491)
Per Share Amount $0.01 $0.00 ($0.01)
Cash Provided by
(Used In)
Operations $184,264 ($206,564) ($230,295)
Net Increase
(Decrease) in
Cash $221,789 ($284,762) $58,682
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"As our first quarter results indicate, ANGOSS continues to build mindshare, marketshare and momentum as the leading pure play vendor in the data mining space for both traditional and e-business analytics requirements" commented ANGOSS President Eric Apps. "Our core business was strong despite traditional year end seasonality factors and Y2K See Y2K problem and Y2K compliant. Y2K - Year 2000 issues in December, 1999. We are now beginning to generate increased revenue growth, improved cash flow, and stronger bottom line profitability. During the first quarter we believe we also sowed the seeds for the future broadening and deepening of our revenue base. We have expanded our relationships with some key customers and technology partners. We have added some strategically important new customer accounts. We have commenced marketing to selected customers some exciting higher value solution opportunities. We continue to add to our revenue mix with both consulting and development services agreements with customers and partners. Our performance may continue to be subject to quarterly fluctuations as our business continues to evolve, but overall our current outlook for the balance of this year and for 2001 is positive." Notable highlights during the first quarter included: * The completion by ANGOSS of deliverables due to Sybase under a joint development initiative, with further deliverables currently expected to be scheduled and announced during 2000. * The release to beta on time and on budget of KnowledgeSTUDIO 3.0, with commercial availability planned for April, 2000. * The announcement of the availability of KnowledgeSTUDIO for Siebel and KnowledgeWebMiner, higher value added Value Added The enhancement a company gives its product or service before offering the product to customers. Notes: This can either increase the products price or value. data mining solutions for the Siebel e-CRM application suite and the e-business web analytics space, which are currently being marketed to ANGOSS customers and are expected to contribute to ANGOSS revenues during the 2000 fiscal year. * The expansion of ANGOSS's technology partnership with Whitecross Data Exploration to support Whitecross's alternative service provider business model. First quarter revenues were derived from licensing, license renewal, development services and consulting services agreements with several current and new ANGOSS customers and partners, including in North America Allstate, Ameritrade, Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. , Bank One, Broadbase Software, CAA Caa See CCC. Insurance, CableVision, Cendant, Chase Bank, CIBC CIBC Canadian Imperial Bank of Commerce CIBC Centres Interinstitutionnels de Bilan de Compétences CIBC Commonwealth Institute of Biological Control (Trinidad) CIBC Commercial International Brokerage Company / PC Financial, Cigna, CIT n. 1. A citizen; an inhabitant of a city; a pert townsman; - used contemptuously. Which past endurance sting the tender cit. - Emerson. Group, CNA (Certified NetWare Administrator) See Novell certification. Insurance, CyberGold, E Funds, EDS (Electronic Data Systems, Plano, TX, www.eds.com) Founded in 1962 by H. Ross Perot (independent candidate for the President of the U.S. in 1992), EDS is the largest outsourcing and data processing services organization in the country. , Enbridge, Ernst & Young, First USA Bank, Ford Credit Company, Fortis, Frequency Marketing, Frost National Bank Frost National Bank is a nationally chartered bank founded in 1868 that is based in San Antonio, Texas. Frost Bank is one of the largest Texas-based banks and is the 74th largest U.S. bank by asset size. , GE Capital, General Electric, Glaxo Wellcome, GMAC GMAC General Motors Acceptance Corporation GMAC Graduate Management Admission Council GMAC Give Me A Call GMAC Genetic Manipulation Advisory Committee GMAC Genetic Modification Advisory Committee (Singapore) GMAC Give Me A Chance , Household International, Engage - I/Pro, Infoworks, MBNA MBNA Monument Builders of North America MBNA Mercedes-Benz North America MBNA Maryland Bank, National Association MBNA Maryland Bank North America MBNA Mount Baker Nurses Association (Bellingham, Washington) , Nordstrom, Norwest Mortgage, Ontario Power Generation Ontario Power Generation (OPG) is a public company whose shares are wholly owned by the Government of Ontario. It is responsible for approximately 70% of the electricity generation in the province of Ontario, Canada [1]. , Providian, Revenue Quebec, Salience sa·li·ence also sa·li·en·cy n. pl. sa·li·en·ces also sa·li·en·cies 1. The quality or condition of being salient. 2. A pronounced feature or part; a highlight. Noun 1. , Sybase, The Associates, USAA USAA United Services Automobile Association USAA Urban Superintendents Association of America USAA United States Achievement Academy USAA United States Arbitration Act of 1925 USAA United States Axemen's Association USAA United States Air-Table-Hockey Association , Wachovia and Whitecross. ANGOSS UK also exceeded quarterly budget expectations and added a number of important new customer accounts. Distribution arrangements for ANGOSS products in Japan and South East Asia are currently under review. "Our revenue growth is providing us with the ability to broaden our investments in our research and development, services and sales capabilities", commented Lon Vining, ANGOSS Chief Financial Officer. "Subject to our overall profitability objectives, our priority for 2000 is revenue growth. We know we must also continue to increase our investments in infrastructure and headcount to support our revenue growth objectives. Based on our current pipeline of activity, and opportunities we expect to be brought forward over the balance of 2000, we need to expand our capacity to service and support our customers and technology partners." About ANGOSS Software ANGOSS Software Corporation, headquartered in Toronto, Canada, develops and sells industry-leading data mining solutions "at the intersection of the Warehouse and the Web." ANGOSS customers use ANGOSS data mining solutions to make better business decisions every day. The ANGOSS KnowledgeSuite of advanced data mining solutions includes: * KnowledgeSEEKER(r) and KnowledgeSTUDIO(r), used by leading Global 2000 companies in the financial services, retail, telecom, healthcare and advanced manufacturing sectors. * KnowledgeExcelerator(tm) and KnowledgeAccess(tm), data mining add-ins for Excel and Access, the popular spreadsheet and database applications of Microsoft Corporation. * KnowledgeSTUDIO for Siebel, a data mining solution for users of the Siebel Systems e-CRM sales and marketing application suites * KnowledgeWebMiner, a data mining solution for e-business marketing professionals * The KnowledgeSTUDIO software development kit (SDK (Software Developer's Kit) See developer's toolkit and Windows SDK. SDK - Software Developers Kit (or "Software Development Kit"). ), a fully documented data mining development environment for customers and technology partners with customization and integration requirements for advanced data mining technology. VisibleWeb(tm), an advanced data mining and data visualization solution for e-business professionals engaged in Web analysis, is currently planned for release in 2000. VisibleWarehouse(tm), an advanced data mining and data visualization solution for business users of data warehousing and data mart systems, is currently planned for release in 2001. Both solutions will be based on KnowledgeExplorer(tm), a browser based data mining solution for users of Internet Explorer, leveraging the SQL Server 7, Site Server and Commerce Server "digital nervous system" of application suites from Microsoft (r) Corporation. Further information on ANGOSS is available on the Internet at www.angoss.com. This press release may contain forward-looking statements relating to the future performance of ANGOSS Software Corporation. Forward-looking statements, specifically those concerning future performance and the achievement of operating profitability are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties include the risk of possible customer disappointment or dissatisfaction with ANGOSS Software products, and any resulting failure to expand the user base as anticipated by the Company; the Company's limited operating history and losses; increases in expenses; unproved market acceptance of the Company's products and services; technical uncertainties related to releases of new or modified products and adapting products to specific customer requirements; risks involving management of growth; competition and the introduction of new entrants and/or new products in the Company's markets; product development risks and risks of technological change; the risk of unanticipated expenses or asset reevaluations; and other risks and uncertainties all as described in the disclosure documents filed with securities regulatory authorities in accordance with applicable securities laws. Note: The Canadian Venture Exchange The Canadian Venture Exchange (CDNX) is now a defunct stock exchange having been acquired by the TSX Group in 2001 and renamed the TSX Venture Exchange. History of the Canadian Venture Exchange (CDNX) has neither approved nor disapproved the above information. |
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