DELRINA ADVISES ON THIRD QUARTER PERFORMANCE SALES TO INCREASE 36%; LOWER THAN EXPECTED SALES AND PROFITS.TORONTO--(BUSINESS WIRE)--March 31, 1995--Delrina Corporation today advised that based on a preliminary review, sales for the third quarter ended March 31, 1995 will increase 36 percent to approximately $37 million, up from $27.3 million for the same period last year. The company anticipates that sales will be approximately $3 million shy of the consensus analysts' projection for the quarter and earnings will be approximately 10 cents short of the consensus analysts' expectations for the quarter. These anticipated results may also affect analysts' year-end forecasts, for the year ending June 30, 1995. "Retail sales of the company's products to individual end-users continues to be strong," said Dennis Bennie Dennis Bennie is the founder and Chief Executive Officer of XDL Capital Corporation, a venture capital firm focusing on Internet software. In the late 1980s, Bennie was the CEO at Carolian Systems International, which was a firm that made business software for , Delrina s Chairman 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. . "However, anticipated enterprise sales to some larger accounts have been deferred to a later quarter. In addition, the timing of the anticipated launch of Windows 95 has caused some moderation in our sales growth." As previously disclosed, the company continues to invest in people and infrastructure in order to build the necessary platform for future growth. Consequently, the company's operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. also rose during the quarter. The company continues to be upbeat as to its future prospects, with many new products, such as WinFax Scanner, Echo Lake, and two new CD-ROM CD-ROM: see compact disc. CD-ROM in full compact disc read-only memory Type of computer storage medium that is read optically (e.g., by a laser). editions of the company's best-selling communications products to be introduced in the fourth quarter. The shipment of these offerings should improve the prospective outlook for the company. The most recently introduced Delrina PerForm for Windows has already appeared on the Top Ten bestseller list as ranked in this month's PC Magazine. "We look forward to a banner 1996," said Bennie. "Beginning July 1, 1995, we expect a number of factors to coalesce co·a·lesce intr.v. co·a·lesced, co·a·lesc·ing, co·a·lesc·es 1. To grow together; fuse. 2. To come together so as to form one whole; unite: : our organizational improvements, the prudent investment in infrastructure, and the introduction of Windows 95. These are all positive enhancements that will enable Delrina to sell much more product into a growing marketplace." Delrina Corporation designs, develops, markets and supports innovative PC software products and services in the fax, data and voice communications, electronic forms, and consumer software markets. Founded in 1988, the Company is ranked in sales among the top fifteen software publishers in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and is recognized as the worldwide leader in PC fax and forms. Delrina employs nearly 600 people with offices in Toronto and Ottawa, Canada; San Jose, CA; Kirkland, WA; Washington, DC; Lexington, MA; the United Kingdom; France; and Germany. CONTACT: Delrina Corp. Jo-Anne Chang, Director of Investor Relations Investor relations The process by which the corporation communicates with its investors. 416/446-8328 INDUSTRY KEYWORD: COMED COMPUTERS/ELECTRONICS TELECOMMUNICATIONS REPEATS: New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of 212-575-8822 or 800-221-2462; Boston 617-330-5311 or 80 |
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