CaminoSoft Corp. Reports Second Fiscal Quarter Results.Business Editors WESTLAKE Westlake, city (1990 pop. 27,018), Cuyahoga co., NE Ohio, a suburb of Cleveland; inc. as a city 1956. A growing city, its various manufactures include ink and plastics. VILLAGE, Calif.--(BUSINESS WIRE)--May 16,2000 CaminoSoft Corp. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :IEIC IEIC Independent Engineering Insurers' Committee ) today reported revenues of $413,839 for the second fiscal quarter ended March 31, 2000. Revenues for the prior year period were $524,397. Net loss for the quarter was $539,481, or $0.07 per share, compared with net income of $106,551, or $0.02 per share, for the same period last year. Revenues for the six-month period were $780,368, compared with $1.1 million for the same period last year. Net income for the first half of the fiscal 2000 year was $283,455, or $0.04 per share, compared with $266,745, or $0.05 per share, for the six-month period in fiscal 1999. The loss for the quarter resulted from the termination of the fusing In electrophotography, making the toner adhere permanently to the paper. Heat fusing melts the toner, which is pressed into the paper. Cold fusing presses the toner into the paper without applying any heat. Flash fusing melts the toner with light, and no heat or pressure is used. agent business and the start up expenses of the new business. Results for the current fiscal year are not comparable with those from the 1999 fiscal year, when the company operated in a different line of business. "During the quarter, we achieved several key accomplishments important for the company's successful transition to a new and exciting business," said Walter Wal·ter , Bruno 1876-1962. German conductor noted for his interpretations of Mozart and Mahler. Noun 1. Walter - German conductor (1876-1962) Bruno Walter Kornbluh, president and chief executive officer. "In January, we sold the remaining assets of our fusing agent business in a cash transaction, enabling us to focus resources on our core data storage software solution business. In addition, we completed a private common stock placement for $3.3 million in cash that will be used in the development of our new business." Kornbluh noted that in April, shareholders approved changing the corporate name to CaminoSoft Corp., more accurately reflecting the company's new business focus. Shareholders also approved an increase in the authorized shares Authorized shares Number of shares authorized for issuance by a firm's corporate charter. of stock and a new stock option program. With headquarters in Westlake Village, Calif., CaminoSoft Corp. is the creator of Highway Server, an advanced, hierarchical storage management See HSM. (HSM (1) (Hierarchical Storage Management) The automatic movement of files from hard disk to slower, less-expensive storage media. The typical hierarchy is from magnetic disk to optical disc to tape. ) system. With the exponential growth Extremely fast growth. On a chart, the line curves up rather than being straight. Contrast with linear. of data being stored on computer systems, companies today are seeking a cost-effective cost-effective, n the minimal expenditure of dollars, time, and other elements necessary to achieve the health care result deemed necessary and appropriate. and advanced solution to managing their current and future data storage needs. Using CaminoSoft's HSM solution, companies are able to store and manage all of their data intelligently without having to continuously add more equipment. For more information, contact Stephen Crossen at CaminoSoft Corp. at 805/370-3100 or visit the company's Web site at http://www.caminosoft.com. This release contains 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. 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. These forward-looking statements are not guarantees of CaminoSoft's future operational or financial performance and are subject to risks and uncertainties. Actual operational and financial results may differ materially from CaminoSoft's expectations contained in the forward-looking statements as a result of various factors. These factors include market acceptance of CaminoSoft's HSM solution, demand for the company's products and services, continued growth of the data storage market, competitive factors, as well as other risks and uncertainties detailed from time to time in CaminoSoft's filings with the Securities and Exchange Commission.
INTERSCIENCE COMPUTER CORPORATION
Three Months Ended
March 31, March 31,
2000 1999
--------------- --------------
Sales $ 413,839 $ 524,397
Income Continuing Operations (858,600) 106,551
Earnings Discontinued Operations 319,119 ---
Net Income $ (539,481) $ 106,551
Average Shares 7,339,556 5,236,556
Net Income (Loss)
Per Common Share $ (0.07) $ 0.02
Six Months Ended
March 31, March 31,
2000 1999
--------------- --------------
Sales $ 780,368 $ 1,147,635
Income Continuing Operations (13,225) 266,745
Earnings Discontinued Operations 296,680 ---
Net Income $ 283,455 $ 266,745
Average Shares 7,339,556 5,236,556
Net Income (Loss)
Per Common Share $ 0.04 $ 0.05
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