BarPoint Reports Strong Second Quarter Revenue Growth; Company Expands Wireless Reach With New Carrier Partners Signed.Business Editors DEERFIELD BEACH Deerfield Beach, town (1990 pop. 46,325), Broward co., SE Fla., on the Atlantic coast; inc. 1925. The development of high-technology industry and commerce expanded the town and more than doubled its population between 1970 and 1990. , Fla.--(BUSINESS WIRE)--July 9, 2001 BarPoint.com (Nasdaq: BPNT), a leading online and wireless product information service and applications developer, today reported record revenues for the second quarter and six months ended June 30, 2001. Total revenue for the quarter will be approximately $650,000 to $675,000, an increase of approximately 245% over the same quarter in the prior year. For the six-month period ended June 30, 2001, total revenue will be approximately $1,135,000 to $1,160,000, an increase in excess of 215% over the comparable 2000 period. Revenue for the second quarter and six months ended June 30, 2000 were $192,346 and $362,311, respectively. On a sequential basis, second quarter 2001 revenue increased by more than 35% versus the first quarter 2001 revenue of $485,056. BarPoint President 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. , John Macatee, commented, "We are pleased to show continued revenue growth for the second quarter this year. As anticipated, we continue to increase revenues from our core Web and wireless services and related hardware sales. We are particularly encouraged by these results in light of the broad market weakness related to retail sales and advertising spending trends, in addition to the unexpected transition during the quarter to a new Internet See Web 2.0 and Internet2. hosting provider. Despite the delays caused by the transition, we are back on track to roll out many of the enhancements now possible with our new technology platform." Jeff Sass, BarPoint's Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , also commented, "BarPoint was able to achieve a number of additional milestones during the quarter, including the addition of Cingular and VoiceStream to an already impressive list of wireless carrier partners, such as AT&T, Sprint, Verizon, and US West/Qwest. The BarPoint service is currently available on the shopping menu of most of the Internet-capable phones sold in the US. We also introduced our secure mobile wallet and enhanced database integration tools, which make it possible for manufacturers and retailers to cost-effectively list, promote and sell their products from any wireless device through the BarPoint service." The Company will report full second quarter results in early August and at that time will hold a conference call to review additional details of the quarter's activities and progress. About BarPoint.com BarPoint.com is a leading online and wireless product information service and applications developer and a pioneer in the use of unique product identifiers, such as the UPC (Universal Product Code) The standard bar code printed on retail merchandise, which is administered by GS1 US, Brussels, Belgium and Lawrenceville, NJ (www.gs1.org). barcode number, and patent-pending "reverse-search" technology to simplify the process of finding meaningful product information. As a content provider, retail sales facilitator, and applications developer, BarPoint is dedicated to helping businesses and consumers make better buying decisions. Whether using a handheld device to scan or by manually entering the product's UPC or even accessing BarPoint's Web site from a desktop computer, BarPoint.com is the most direct route to meaningful product information, helping users make more informed purchasing decisions -- anytime, anywhere. The Company has previously announced strategic alliances with companies such as AT&T Wireless (NYSE NYSE See: New York Stock Exchange : AWE), Sprint PCS (1) (Personal Communications Services) Refers to wireless services that emerged after the U.S. government auctioned commercial licenses in 1994 and 1995. This radio spectrum in the 1. (NYSE: PCS), Verizon Wireless Cellco Partnership, doing business as Verizon Wireless, owns and operates the second largest wireless telecommunications network in the United States, based on total wireless customers. (NYSE: VZ), Qwest Communications (NYSE: Q), Office Depot (NYSE: ODP ODP - Open Distributed Processing ), Air2Web, GoAmerica (Nasdaq: GOAM GOAM Government of Armenia ), i3 Mobile (Nasdaq: IIIM IIIM International Institute of Islamic Medicine IIIM Islamic Information Institute of Manitoba ), Palm (Nasdaq: PALM), Motorola (NYSE: MOT), and Symbol Technologies (NYSE: SBL SBL Society of Biblical Literature SBL Symbol Technologies, Inc. (NYSE symbol) SBL Spamhaus Block List SBL Space-Based Laser SBL Securities Borrowing and Lending SBL Supreme Beings of Leisure (band) ) and in 1999 acquired Synergy Solutions, now acting as BarPoint's application development division. BarPoint.com is located at: 2200 SW 10th Street, Deerfield Beach, FL 33442. For information, contact BarPoint.com at: (954) 949-7000 or via the web: www.barpoint.com. BarPoint.com's common stock is traded on Nasdaq under the symbol BPNT. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995, regarding the Company's business strategy and future plans of operations. Forward-looking statements involve known and unknown risks and uncertainties, both general and specific to the matters discussed in this press release. These and other important factors, including the Company's ability to attract new customers, the Company's relationships with strategic partners, the Company's ability to raise additional capital and other factors mentioned in various Securities and Exchange Commission filings made periodically by the Company, may cause the Company's actual results and performance to differ materially from the future results and performance expressed in or implied by such forward-looking statements. The forward-looking statements contained in this press release speak only as of the date hereof and the Company expressly disclaims any obligation to provide public updates, revisions or amendments to any forward-looking statements made herein to reflect changes in the Company's expectations or future events. BarPoint, BarPoint.com and My BarPoint are trademarks or registered trademarks of BarPoint.com, Inc. BarPoint technology is patent-pending. |
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