CONNECT, Inc. Announces Preliminary First Quarter Revenues.MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--April 2, 1997--CONNECT, 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 :CNKT), today announced that, based on current information, the Company expects that revenues and operating results for its first fiscal quarter, ended March 31, 1997, will be below the expectations of securities analysts. Revenues will be in a range of $2.0 million to $2.5 million. These revenues, while partially offset by lower expenses, will yield operating results below those expected by securities analysts following the Company. Commenting on the expected results, Tom Kehler, CONNECT 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. , said, "While first quarter revenues are above those of the prior year, we are disappointed with the overall results for the quarter. We are encouraged by the growth of our customer base over the last 12 months, nevertheless, the high-end high-end adj. Informal 1. Appealing to sophisticated and discerning customers: a high-end department store; high-end video equipment. 2. electronic commerce market remains relatively immature immature /im·ma·ture/ (im?ah-chldbomacr´) unripe or not fully developed. im·ma·ture adj. Not fully grown or developed. immature unripe or not fully developed. . As we have previously disclosed, a significant portion of our revenues are derived de·rive v. de·rived, de·riv·ing, de·rives v.tr. 1. To obtain or receive from a source. 2. from a limited and relatively small number of orders placed by large corporations, which makes our quarter-to-quarter revenue difficult to forecast." About CONNECT, Inc. CONNECT designs, develops, markets and supports industrial-strength in·dus·tri·al-strength adj. Extremely strong, durable, or concentrated: industrial-strength cardboard; industrial-strength detergent. Adj. 1. , scaleable application software for Internet-based interactive commerce. CONNECT's software is designed to reduce the time and overall cost for businesses to implement and maintain a secure sales, marketing and order capture capability on the World Wide Web to support large numbers of customers, products and transactions. For more information, telephone 1-800/262-2638 or access the CONNECT World Wide Web site at http://www.connectinc.com . Except for the historical information contained herein, the matters discussed in this news release are 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. that involve risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. Potential risks and uncertainties include, without limitation, those mentioned in the Company's prospectus A document, notice, circular, advertisement, letter, or communication in written form or by radio or television that offers any security for sale, or confirms the sale of any security. dated August 14, 1996, under "Risk Factors" and in particular the Company's ability to implement its products, acceptance by the marketplace of the Company's products and services and the Company's ability to develop new products and services. -0- Note to Editors: OneServer, OrderStream and the Virtual Sales Channel are trademarks of CONNECT, Inc. CONNECT is a registered service mark of CONNECT, Inc. All other trademarks are property of their respective holders. CONTACT: CONNECT, Inc. Joe Girata, 415/254-4000 |
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