CeleXx Corporation Reports First Quarter Results.Business Editors/Technology Writers BOCA RATON Boca Raton (bō`kə rətōn`), city (1990 pop. 61,492), Palm Beach co., SE Fla., on the Atlantic; inc. 1925. Boca Raton is a popular resort and retirement community that experienced significant industrial development in the 1970s and 80s. , Fla.--(BUSINESS WIRE)--Nov. 16, 2000 CeleXx Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CLXX Adj. 1. clxx - being ten more than one hundred sixty 170, one hundred seventy cardinal - being or denoting a numerical quantity but not order; "cardinal numbers" ) today reported sales of $5,234,652 for the first quarter of the company's new fiscal year compared to sales of $270,234 in the comparable period a year ago. A net loss of $242,936 was recorded versus a net loss of $370,780 for the same quarter in 1999. Doug Forde, President and CEOof CeleXx, said "The significant increase in sales was the result of completed acquisitions that were not in place a year ago." Further, Forde stated, "negotiations are continuing on other acquisitions in which the company has interests." CeleXx provides a variety of information technology services through operating subsidiaries An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. that specialize spe·cial·ize v. 1. To limit one's profession to a particular specialty or subject area for study, research, or treatment. 2. To adapt to a particular function or environment. in engineering design and layout of network systems, Web site development, training and technical support and computer hardware and software integration. The centralized cen·tral·ize v. cen·tral·ized, cen·tral·iz·ing, cen·tral·iz·es v.tr. 1. To draw into or toward a center; consolidate. 2. headquarters in Boca Raton, FL provides the overall management and direction for the operating entities, which are defined in four groups as Integrated Solutions, Performance Media, Information Engineering and Special Applications. For more information, please visit the CeleXx corporate Web site at www.celexx.com This press 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 statements refer to future events, Company plans, management expectations and the like. The Company wishes to caution readers not to place undue reliance on any such forward-looking statements. Risks and uncertainties such as general economic conditions, management's ability to carry out plans, market conditions, political climates, financing and many other factors exist that may cause actual results to differ materially.
SELECTED FINANCIAL INFORMATION:
Three Months Ended Three Months Ended
September 30, 2000 September 30, 1999
REVENUES $ 5,234,652 $ 270,234
COST OF REVENUES 3,999,196 141,706
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GROSS PROFIT 1,235,456 128,528
OPERATING EXPENSES 1,487,040 499,308
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LOSS FROM OPERATIONS ( 251,584) ( 370,780)
OTHER INCOME 8,648 -0-
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NET LOSS $ ( 242,936) $ ( 370,780)
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NET LOSS PER SHARE-BASIC $ ( 0.02) $ ( 0.05)
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