CANTERBURY REPORTS FOURTH QUARTER/YEAR END RESULTS; PROJECTS SIGNIFICANTLY HIGHER REVENUES AND PROFITS.Business Editors/Hi-Tech Writers MEDFORD, New Jersey--(BUSINESS WIRE)--March 15, 2000 Canterbury Information Technology, 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 - CITI CITI Columbia Institute for Tele-Information (Columbia University) CITI Center for Information Technology Integration (University of Michigan) CITI Collaborative IRB Training Initiative ) - announced today that revenues for the fourth quarter of fiscal 1999 were $4,661,560 up from $2,686,397 in 1998. Net income was $102,189 up from $10,421. Basic and fully diluted earnings per share diluted earnings per share An earnings measure calculated by dividing net income less preferred stock dividends for a period by the average number of shares of common stock that would be outstanding if all convertible securities were converted into shares of was $.01 up from $.00. Revenues for the fiscal year ending November 30, 1999 were $14,209,526 versus $12,122,879 in 1998; net income was $620,768 versus $581,503 in 1998. Basic and fully diluted earnings per share were $.08 versus $.10. Canterbury's common stock outstanding increased by 3,087,000 shares. Net worth increased from $16,229,268 to $18,872,813; total assets increased from $25,329,897 to $27,811,972. Stanton M. Pikus, President, stated, "Once again Canterbury has had a profitable year. In addition, the monies spent in fiscal 1999 have laid the groundwork to maximize growth and earnings during fiscal 2000." "CALC (tool, mathematics) Calc - An extensible, advanced desk calculator and mathematical tool written in Emacs Lisp by Dave Gillespie <daveg@synaptics.com>. Calc runs as part of GNU Emacs. Web University, our training portal on the Internet, which had been offering demo courses will be fully operational within two weeks. CWU CWU Central Washington University CWU Communication Workers Union CWU Communication Workers' Union (South Africa) CWU Church Women United CWU Crittenton Women's Union (Boston, MA) CWU Complex Work Unit can now create online courses for its corporate customers and can also repurpose To change the media format; for example, to go from print to online. existing classroom training on any subject and deliver it worldwide over our Web site or over any corporate intranet." "CALC/Canterbury has been named by Linuxcare to train all Linuxcare Certified See certification. Instructors for the entire East Coast, as well as Texas. The advent of the Linux operating system operating system (OS) Software that controls the operation of a computer, directs the input and output of data, keeps track of files, and controls the processing of computer programs. and its acceptance by the technology/Internet community should provide Canterbury with extensive revenue opportunities." "Canterbury's acquisition of USC/Canterbury Corp. in the fourth quarter of fiscal 1999 should add significant revenues and profits to Canterbury in 2000. Management projects that Canterbury's revenues will grow from $14,000,000 in 1999 to well in excess of $25,000,000 in 2000. We also anticipate net income and earnings per share to increase accordingly." "Canterbury intends to continue to seek acquisitions in the information technology/Internet sector. Growth through acquisition, joint ventures and external business relationships is an important part of our business plan, and we intend to aggressively search out viable opportunities." This press release may contain 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. . The Company's performance and financial results could differ materially due to general financial, economic, regulatory and political conditions or factors unknown to the Company at this time, or more specific risks and uncertainties set forth in documents filed with the SEC, which are available upon request). Given these risks and uncertainties, any or all of these forward-looking statements may prove to be incorrect. Current or prospective investors are cautioned not to place undue reliance on any forward-looking statements. The Company has no intent, and disclaims any obligation, to update any such factors or forward-looking statements to reflect future events or developments. Canterbury websites: Corporate - www.canterburyciti.com CALC/Canterbury Corp. - www.calc.com USC/Canterbury Corp. - www.gettrained.com ATM/Canterbury Corp. - www.atmcan.com MSI/Canterbury Corp. - www.msitrain.com CALC Web University - learn.calc.com |
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