Beyond.com Outlines Core Business Strengths At Prudential Volpe Conference.Business Editors/High-Tech Writers Prudential Prudential is the name of two different companies and buildings named after them: Companies:
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 and Telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. Conference SANTA CLARA Santa Clara, city, Cuba Santa Clara (sän`tä klä`rä), city (1994 est. pop. 217,000), capital of Villa Clara prov., central Cuba. , Calif.--(BUSINESS WIRE)--Sept. 19, 2000 Ron Smith Ron Smith may refer to:
Smith also commented on Beyond.com's recent convertible note exchange, which raised the company's net tangible assets Net Tangible Assets Calculated as the total assets of a company, minus any intangible assets such as goodwill, patents and trademarks, less all liabilities and the par value of preferred stock. Also known as "net asset value" or "book value". to $30.2 million, and on the company's future financing and profitability goals. Smith discussed Beyond.com's eStores service, whereby the company builds, markets and manages online stores for software developers, hardware manufacturers and systems OEMs and its Government Systems Group, which provides digital distribution of software and related services to U.S. Government agencies. He noted that both of these core businesses have experienced strong revenue growth quarter over quarter and year over year. "Revenues from our eStores business in Q2 2000 was $10.6 million, up 15 percent from Q1 revenues and up 75 percent from Q2 revenues a year ago," Smith explained. "Revenues from our Government Systems Group was $14.3 million in Q2, up 40 percent from Q1 revenues and up 207 percent from Q2 revenues a year ago. "We have a management team experienced in turnarounds and focused on profitability," Smith said. "Our goal is to put into place equity-based financing in the coming weeks," he explained. "Furthermore, given our financial performance over the last two quarters, and the company's plans for the future, we believe we will be able to accelerate our original breakeven breakeven 1. The level of output or sales necessary to cover fixed expenses. Companies in industries that have high fixed costs and, consequently, high breakevens, such as automobile and steel manufacturing, are likely to exhibit large fluctuations goal of Q4 2002 by a number of quarters." Smith said the company expects to unveil that new breakeven target date and detail the company's plan to profitability in the first half of Q4 2000. About Beyond.com Beyond.com(TM) is an e-commerce services provider that builds, manages and markets online stores for businesses. The company also sells software and computer-related products to consumers and U.S. Government agencies. The company's BuyDirect Group provides eStores by Beyond.com, a suite of services that enables software developers, systems OEMs and hardware manufacturers to market and sell over the Internet. Beyond.com's Government Systems Group provides digital distribution of software and related services to a growing list of U.S. Government agencies. Beyond.com Corporation trades on the Nasdaq National Market under the symbol ("BYND"). More information on the company can be found in the company's filings with the Securities and Exchange Commission ("SEC"). Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement Certain statements in this press release are forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended a·mend v. a·mend·ed, a·mend·ing, a·mends v.tr. 1. To change for the better; improve: amended the earlier proposal so as to make it more comprehensive. 2. , and Section 21E of the Securities Exchange Act of 1934, as amended. These include statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc (i) Beyond.com's ability to put in place equity-based financing, or any financing, on terms that are satisfactory to Beyond.com, or at all, (ii) Beyond.com's ability to accelerate its breakeven target date. Such statements are subject to substantial risks and uncertainties. Actual results for the third quarter of 2000 and subsequent quarters could differ materially from any future performance suggested above. Factors that might cause such a difference include, but are not limited to, the risks inherent in transitioning a corporation's business from a consumer focus to an e-commerce services focus successfully and competitive responses to the transition. The service offerings for eStores may differ materially from Beyond.com's current expectations. Beyond.com's Government Group is subject to risks inherent in government sales, including long sales and collections cycles. Beyond.com's business is subject to other risks, including the company's ability to ramp its eStores and Government Groups and infrastructure, market acceptance of the company's new initiatives and the company's ability to retain and attract key management and employees, as well as other risk factors described in the company's filings with the SEC. Beyond.com news and product/service information is available at the company's World Wide website located at http://www.beyond.com. |
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