Applied Digital Solutions Announces Preliminary 1999 Year-end Results for Intellesale.com Unit.Business Editors/High Tech Writers PALM BEACH, Fla.--(BUSINESS WIRE)--Feb. 9, 2000 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 reported preliminary results for its Intellesale.com unit for the year ended December 31, 1999. Preliminary results showed revenues at over $140 million for the twelve month period ended December 31, 1999, up from $60.7 million for the twelve month period ended December 31, 1998, an increase of 130%. Final results for the year ended December 31, 1999 for Intellesale.com as well as consolidated results for Applied Digital Solutions are expected to be released on or about March 15, 2000. Richard J. Sullivan, 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. of Applied Digital Solutions, commented on the preliminary results, saying, &uot;Results such as these for a business to business and business to consumer provider with a significant and established presence on the Internet serve to strengthen our belief that we were correct in postponing the IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. of Intellesale.&uot; Applied Digital Solutions announced on January 31, 1999 that it had postponed the initial public offering of Intellesale. Sullivan continued, &uot;We are in discussions with a select number of underwriters, for whom the Intellesale IPO would be a better fit, regarding an IPO of Intellesale as well as other strategic alternatives for Applied Digital. We anticipate releasing the results of these discussions, however, only as they become more concrete.&uot; About Intellesale.com Intellesale sells refurbished and new computer equipment and related components through its website at http://www.intellesale.com as well as through traditional channels which Intellesale is migrating to the Internet. Applied Digital Solutions previously announced its intent to offer Intellesale.com to the public through an IPO as part of a strategic restructuring program designed to divest To deprive or take away. Divest is usually used in reference to the relinquishment of authority, power, property, or title. If, for example, an individual is disinherited, he or she is divested of the right to inherit money. those units that did not fit with its focus as one-stop e-solutions provider. About Applied Digital Solutions Applied Digital Solutions 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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