Bitstream Inc. Reports First Quarter to Be Below Expectations.CAMBRIDGE, Mass.--(BUSINESS WIRE)--April 15, 1998--Bitstream Inc. (Nasdaq:BITS) today reported that revenues for the quarter ended March 31, 1998 will be well below expectations and as a result, the Company will report an operating loss operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. of approximately $700,000 for the quarter. The decline in the Company's revenue for the quarter is primarily attributable to weaker than anticipated demand in OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and channels and slower than anticipated growth in emerging markets for the Company's type and technology products. While management is hopeful that the Company will close many of the OEM deals that were forecasted for the first quarter during the second quarter, the Company has reduced its operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. in the Type and Technology division (aside from one-time severance charges) to offset the operating loss for the quarter. The Archetype archetype (är`kĭtīp') [Gr. arch=first, typos=mold], term whose earlier meaning, "original model," or "prototype," has been enlarged by C. G. Jung and by several contemporary literary critics. Applications division of Bitstream continues its anticipated growth in the sales of its MediaBank and InterSep Client/Server products. The Archetype Applications division was not affected by the reduction in operating expenses. Bitstream expects to release actual results by the end of April. Bitstream, headquartered in Cambridge Massachusetts, develops, markets, and supports software technologies and applications for the graphics communications industry communications industry, broadly defined, the business of conveying information. Although communication by means of symbols and gestures dates to the beginning of human history, the term generally refers to mass communications. . Through the Type and Technology Division, Bitstream licenses leading text imaging and page layout :For the Wikipedia policy about articles layout, see Wikipedia:Guide to layout. Page layout is the part of graphic design that deals in the arrangement and style treatment of elements (content) on a page. technologies, such as Bitstream TrueDoc, Bitstream JET and Bitstream NuDoc, to hundreds of independent developers. Building on these technologies, Bitstream's Archetype Applications Division develops publishing applications, such as its MediaBank digital asset manager and the InterSep OPI (Open Prepress Interface) An extension to PostScript that provides color separations. It was developed by Aldus Corporation, which was later acquired by Adobe. server. Thousands of corporations, publishers, ad agencies, and prepress houses use Archetype applications. Complementing these products, Bitstream markets and supports an extensive multilingual library of over 1,400 typefaces. For more information on Bitstream and its products, please visit the company on the World Wide Web at http://www.bitstream.com. -0- All trademarks are the property of their respective holders and are mentioned for identification purposes only. CONTACT: Bitstream Inc. Wendy Darland, (617) 520-8378 wdarland@bitstream.com |
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