Applied Digital Solutions' Intellesale.com Unit Records a Seven-fold Increase in Internet-Related Revenue in 1999.Business Editors/High Tech Writers PALM BEACH, Fla.--(BUSINESS WIRE)--March 3, 2000 In a preliminary report, Applied Digital Solutions, 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 :ADSX ADSX Applied Digital Solutions, Inc. (stock symbol) ) today announced that its subsidiary, Intellesale.com, recorded a seven-fold increase in Internet-related revenues, surging from $7.3 million in 1998 to $52.8 million for the year ended December 31, 1999. Final year-end results for both Intellesale and Applied Digital Solutions are expected to be released on or about March 15, 2000. Applied Digital Solutions' Chairman 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. Richard J. Sullivan commented, "This huge increase in Internet revenues shows that Intellesale's Internet-migration strategy has been very successful. While many other high-profile dot-com companies were busy spending increasing amounts on advertising and still losing money, Intellesale.com has pursued an effective and profitable growth strategy. We're very encouraged by these strong Internet sales results and we see a bright future ahead for Intellesale.com." About Intellesale.com, Inc. Intellesale.com is the leading provider of open-box, overstock o·ver·stock tr.v. o·ver·stocked, o·ver·stock·ing, o·ver·stocks To stock more of (something) than necessary or desirable. n. An excessive supply. Verb 1. , off-lease, new and refurbished computer equipment and related components at deeply discounted prices. The Company sells products online through http://www.intellesale.com, and other Internet portals, such as C/Net, Amazon.com, Egghead+Onsale, and Ubid. Additionally, the Company sells products through traditional distribution channels, including the Intellesale sales force and advertising via catalogs and other conventional media. About Applied Digital Solutions, Inc. Applied Digital Solutions, Inc. is an e-business solutions provider offering Internet, telecom, LAN (Local Area Network) A communications network that serves users within a confined geographical area. The "clients" are the user's workstations typically running Windows, although Mac and Linux clients are also used. and software services to a wide variety of businesses throughout North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . For more information, visit the Company's web site at http://www.adsx.com. Statements about the Company's future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are `forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private 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. The Company intends that such 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. involve risks and uncertainties and are subject to change at any time, and the Company's actual results could differ materially from expected results. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances. |
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