Applied Digital Solutions Announces Year-End Results For Intellesale.com Subsidiary.Business Editors/High Tech Writers PALM BEACH, Fla.--(BUSINESS WIRE)--March 9, 2000 Revenues Grew 139% to $145.3 million 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 Increased 60% to $7.0 million 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 year-end results for the Company's Intellesale.com subsidiary. For the 12 months ended December 31, 1999, Intellesale.com posted revenues of $145.3 million, an increase of 139% over the $60.7 million reported in 1998. During the same period, Intellesale reported earnings before interest, taxes, depreciation and amortization Earnings before interest, taxes, depreciation and amortization (EBITDA) is a non-GAAP metric that can be used to evaluate a company's profitability.
"Intellesale's strong financial performance reflects its success in meeting the expanding demand for new and refurbished discounted computers from both consumers and businesses," stated Richard J. Sullivan, Applied Digital Solution's Chairman and Chief Executive Officer. "Intellesale's impressive business to business sales and its successful continuing migration to the Internet drove its exceptional top line momentum. We are particularly pleased that this revenue growth was achieved while delivering robust EBITDA growth. This growth will enable Intellesale to capture a larger share of online computer sales, the second largest e-commerce category. We will continue to explore strategic avenues to unleash the value of Intellesale for our shareholders." About Intellesale.com, Inc. Intellesale 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 products at deeply discounted prices. Intellesale sells products online through www.intellesale.com and other Internet portals, such as C/Net, Amazon.com, Egghead+Onsale and Ubid. Additionally, Intellesale sells products through traditional distribution channels, including its sales force and advertising via catalogs and other conventional media. About Applied Digital Solutions, Inc. 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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