Communication Intelligence Corporation First Quarter 2000 Financial Results.Business Editors REDWOOD SHORES, Calif.--(BUSINESS WIRE)--April 25, 2000 Communication Intelligence Corporation (Nasdaq:CICI CICI Cochlear Implant Club International )("CIC CIC circulating immune complexes. CIC Circulating immune complexes. See Immune complexes. " or the "Company"), the leading supplier of natural input and electronic signature solutions, today announced its financial results for the first quarter ended March 31, 2000. Revenue for the three months ended March 31, 2000 increased 10% to $1.377 million as compared to $1.247 million for the corresponding quarter of the prior year. This increase in revenue includes a breakthrough order totaling $432,000 from Charles Schwab Charles Schwab can refer to:
COMINT Computer Corporation ("CICC CICC Custom Integrated Circuits Conference CICC Center for the Improvement of Child Caring (Studio City, CA) CICC China International Capital Corp. "), a 90% owned Chinese Joint venture, reflecting the success of our products and sales efforts in the emerging market in the Peoples Republic of China. Net loss for the first quarter ended March 31, 2000 was $0.888 million, or $0.01 on 83.0 million weighted average common shares as compared to a net loss for the quarter ended March 31, 1999 of $0.482 million, or $0.01 on 79.1 million weighted average common shares. This increase in net loss for the first quarter 2000 was primarily attributable to a 28% increase in total operating costs operating costs npl → gastos mpl operacionales and expenses. This increase primarily reflects non recurring re·cur intr.v. re·curred, re·cur·ring, re·curs 1. To happen, come up, or show up again or repeatedly. 2. To return to one's attention or memory. 3. To return in thought or discourse. expenses associated with development of a media campaign aimed at significantly increasing aftermarket Aftermarket See: Secondary market. aftermarket See secondary market. software sales via CIC's website and for hardware (tablets) associated with the Schwab order. CIC's 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. , Guido DiGregorio stated, "I am pleased with the breakthrough order from Charles Schwab & Co. and the opportunity to work with Schwab to implement a large-scale business to consumer application of our signature technology that will enhance the effectiveness, security and efficiency of consumer interactions. Our Enterprise sales focus leveraging CIC's electronic signature solutions in high potential applications such as e-Commerce, document flow and corporate security is clearly achieving results. In addition, continuing to be self-funding provides the stability needed to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. our positioning as we move towards accelerated sales and profitability." Selected financial information follows. Detailed corporate and financial information is available on CIC's website at www.cic.com. About CIC Communication Intelligence Corporation (CIC) is a leading supplier of natural input and electronic signature solutions for wireless Internet and e-Commerce applications. The Company's core software technologies include multilingual mul·ti·lin·gual adj. 1. Of, including, or expressed in several languages: a multilingual dictionary. 2. handwriting recognition Handwriting recognition is the ability of a computer to receive intelligible handwritten input. The image of the written text may be sensed "off line" from a piece of paper by optical scanning (optical character recognition). systems, dynamic signature verification, natural messaging, and 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. extensions that enable pen input. CIC's products are designed to increase the ease of use, functionality, and security of wireless electronic devices ranging from handheld companions to cellular phones. Key licensees of the Company's technologies include Ericsson, Fujitsu, Hitachi, Mitsubishi, National Semiconductor and Symbian. CIC is headquartered in Redwood Shores, California Redwood Shores is an upscale and desirable [1] waterfront neighborhood on the San Francisco Peninsula in California. It is located on the eastern edge of Belmont, but is actually part of incorporated Redwood City. and has a joint venture, CICC, in Nanjing, China. For more information, please visit our website at www.cic.com. Certain statements contained in this press release, including without limitation, statements containing the words "believes", "anticipates", "hopes", "intends", "expects", and other words of similar import, constitute "forward looking" statements within the meaning of the Private Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors, which may cause actual events to differ materially from expectations. Such factors include the following: (1) technological, engineering, quality control or other circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or which could delay the sale or shipment of the Company's products; (2) economic, business, market and competitive conditions in the software industry and technological innovations which could affect the Company's business; (3) the Company's inability to protect its trade secrets or other proprietary rights, operate without infringing upon the proprietary rights of others or prevent others from infringing on the proprietary rights of the Company; and (4) general economic and business conditions and the availability of sufficient financing. Note to Editors: CIC and its logo are registered trademarks of Communication Intelligence Corporation. All other trademarks and registered trademarks are the property of their respective holders.
COMMUNICATION INTELLIGENCE CORPORATION
Selected Consolidated Statement of Operations Information
(In thousands, except per share amounts)
Three months ended
(unaudited)
March 31, March 31,
2000 1999
Revenues(1) $ 1,377 $ 1,247
Net loss applicable to common stockholders $ (888) $ (482)
Basic and diluted net loss per common share $ (0.01) $ (0.01)
Weighted average common shares outstanding 83,005 79,111
Selected Consolidated Balance Sheet Information
(In thousands)
March 31, December 31,
2000 1999
(unaudited)
Cash & cash equivalents $ 3,315 $ 2,374
Total current assets 5,847 4,205
Total assets 6,507 4,963
Deferred revenue (2) 1,051 35
Total current liabilities (3) 2,103 1,276
Stockholders' equity 2,922 2,349
NOTES:
(1) For the first quarter ended March 31, 1999, revenues included $38
from discontinued retail hardware products and $141 in recognition
of past years deferred revenues.
(2) Deferred revenues consist principally of advanced royalty from
licensees.
(3) Includes deferred revenues of $1,051 and $35 for the three months
ended March 31, 1999 and 1998, respectively.
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