Adatom.com Announces First Quarter Results; Revenues Grow 343 Percent, Sales Grow 502 Percent from First Quarter 1999.Business Editors MILPITAS, Calif.--(BUSINESS WIRE)--May 18, 2000 Adatom.com, Inc. (Nasdaq:ADTM ADTM Antenna Deployment and Trim Mechanism (aerospace engineering) ), an Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the superstore su·per·store n. A very large retail store that stocks highly diversified merchandise, such as groceries, toys, and camera equipment, or a wide variety of mechandise in a specific product line, such as computers or sporting goods. and global electronic marketplace enabler, today announced its financial performance for the three months ended March 31, 2000. For the first quarter reporting period, the Company reported revenues of $443,000, a 343 percent increase over revenues of $100,000 posted for the three month period ended March 31, 1999. Sales amounted to $527,000, a 502 percent increase over the $105,000 reported for the first quarter 1999. The average revenue per order increased to $151 for first quarter of 2000, compared to $114 for the comparable 1999 period. Additionally, user sessions A count of how many times all users access a Web site regardless whether the same person came back several times during the measurement period. If a user leaves and returns within a short time, some systems count those sessions as one. Contrast with unique visitors. See also user session. for Q1 2000 have continued to surge with an increase of 2,367 percent over first quarter 1999 and 137 percent over Q4 of 1999. Rich Barton Richard Barton (born June 2, 1967) is an internet entrepreneur, founder of online travel company Expedia and real-estate internet company Zillow. External Links [1] , President and Chief Executive Officer of Adatom.com stated, "Q1 was an outstanding quarter for the company. We continue to show stellar sequential growth year over year and quarter over quarter since going public in the fourth quarter of last year. In our first full quarter as a public company, we have added two new business-to-business revenue streams and consummated con·sum·mate tr.v. con·sum·mat·ed, con·sum·mat·ing, con·sum·mates 1. a. To bring to completion or fruition; conclude: consummate a business transaction. b. significant strategic contracts. With our newly introduced Adatom E-commerce e-commerce, commerce conducted over the Internet, most often via the World Wide Web. E-commerce can apply to purchases made through the Web or to business-to-business activities such as inventory transfers. Solution Program (AESP AESP Aerospace Education Services Program AESP Association of Energy Services Professionals AESP Army Equipment Support Publication AESP Aboriginal Enriched Support Program (Carleton University program) AESP Advanced Energy Systems Program ) revenue stream and our custom e-commerce capabilities, we have signed agreements with Alta Vista See AltaVista. (World-Wide Web) Alta Vista - A World-Wide Web site provided by Digital which features a very fast Web and Usenet search engine. As of April 1996 its word index is 33GB in size. , Thermoview, Club Charlie, iEntertainment and Shop Now.com. Additionally, with our Global E-commerce Marketmaker Solutions (GEMS) program we have established agreements with major enterprises in China to establish electronic market places. These include exclusive contracts for electronic distribution of products and services with the China Products Trade Net Center (CPTNC) for consumer goods consumer goods Any tangible commodity purchased by households to satisfy their wants and needs. Consumer goods may be durable or nondurable. Durable goods (e.g., autos, furniture, and appliances) have a significant life span, often defined as three years or more, and , Yangling Agricultural Hi-Tech Industrial Demonstration Zone (YAHIDZ) for agricultural goods and ShenZhen Bay Industrial, Education and Research Center (SBIERC) for electronics, education and information technology resources." Rich continued, "As well, we have completed key technology initiatives including the introduction of a new site, the initiation of PeopleSoft Financials and Distribution to achieve a global scaleable infrastructure, implementation of Akamai technology for improved content streaming, the integration of third party distribution with SameDay.com and the co-location of our servers at UUNET (UUNET Technologies, Inc., Fairfax, VA, www.uunet.net) Founded in 1987, UUNET was the first commercial Internet service provider. Originally offering e-mail and news, it became a full Internet service organization providing dial-up and leased line accounts as well as archive space for ." Mr. Barton BARTON, old English law. The demesne land of a manor; a farm distinct from the mansion. concluded, "This has been a quarter of major business results and significant accomplishments. Our success is validated val·i·date tr.v. val·i·dat·ed, val·i·dat·ing, val·i·dates 1. To declare or make legally valid. 2. To mark with an indication of official sanction. 3. by our exemplary customer satisfaction rating from Bizrate.com for our www.adatom.com revenue stream. While continuing to register substantial sequential growth, we have successfully put into place an outstanding base of technology, added revenue streams, secured additional investment and consummated business initiatives that provide tremendous momentum for future growth. We have a solid foundation for continuing success." The increased number of shares outstanding, loss per share and total increased net loss are each direct results of the tremendous growth and company overhaul experienced at Adatom. Aside from becoming a publicly trading company in 1999, Adatom's employee base has grown from 11 at its inception to 58 at 1Q 2000. About Adatom.com, Inc. Adatom.com, Inc. is a fast growing e-commerce company. By leveraging its proprietary e-commerce infrastructure and efficient distribution system, the Company reaches both the business-to-business market, with its E-commerce Solution Program (AESP) and its Global Electronic Marketmaker Solution (GEMS) and the business-to-consumer markets, through its www.adatom.com Web site. Its Internet superstore offers over three million items for the home, individual and office with a comprehensive mix of name brand products in 29 product categories. More Quotes and News: Adatom.com Inc (Nasdaq:ADTM)
Adatom.com, Inc.
Statement of Operations
(unaudited)
Three Months Three Months
Ended March 31, Ended March 31,
2000 1999
----------------------------------
Product revenue $ 443,000 $ 100,000
Cost of product revenue 433,000 88,000
---------------- ----------------
10,000 12,000
Operating expenses:
Research and development 364,000 132,000
Selling, general and
administrative 1,824,000 188,000
---------------- ----------------
2,188,000 320,000
---------------- ----------------
Loss from operations (2,178,000) (308,000)
Other income (expense)
Internet support income 0 38,000
Miscellaneous income 1,000 0
Interest income (expense), net 4,000 (28,000)
---------------- ----------------
5,000 10,000
---------------- ----------------
Net Loss $ (2,173,000) $ (298,000)
================ ================
Basic and diluted loss per share ($0.15) ($0.06)
Weighted average shares
outstanding 14,778,000 5,056,000
The accompanying notes are an integral part of these financial statements Statements in this news release that are not descriptions of historical facts 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 are subject to risks and uncertainties. Words such as "expect," "intends," "believes," "plans," "anticipates" and "likely" also identify forward-looking statements. All forward-looking statements are based on current facts and analyses. Actual results may differ materially from those currently anticipated due to a number of factors including, but not limited to history of operating losses operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. , anticipated future losses, competition, future capital needs, the need for market acceptance, dependence upon third parties, disruption disruption /dis·rup·tion/ (dis-rup´shun) a morphologic defect resulting from the extrinsic breakdown of, or interference with, a developmental process. of vital infrastructure and intellectual property rights. All forward-looking statements are made pursuant to the Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform Act of 1995. Additional information on factors that may affect the business and financial results of the Company can be found in filings of the Company with the Securities and Exchange Commission. |
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