Electric Mail Co. Announces 1999 Year End Results.Business Editors VANCOUVER, B.C.--(BUSINESS WIRE)--May 10, 2000 The Electric Mail Company Inc. (CDNX CDNX See Canadian Venture Exchange (CDNX). :ELE ELE equine leukoencephalomalacia. .) (the "Company"), a world leader in outsourced corporate Internet communications, today announced its audited financial results for the year ended December 31, 1999. The Company's revenues in 1999 were derived from a core service offering, which includes Electric WebMail, Electric InterConnect, E-mmunity(TM), LAN (Local Area Network) A communications network that serves users within a confined geographical area. The "clients" are the user's workstations typically running Windows, although Mac and Linux clients are also used. Gateway, AKA(TM) Toolkit and messaging consulting services. Overall revenues increased $87,718 (or 8.6%) from $1,017,942 in 1998 to $1,105,660 in 1999. During the year, total expenses increased $830,986 (or 46.9%) from $1,771,723 in 1998 to $2,602,709 in 1999. This represents a loss of $0.17 per share as compared to a $0.10 per share loss in 1998. The increase in expenses can be attributed to four main areas: additional personnel for various pilot projects initiated to analyze new revenue source opportunities; significant increased costs relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc consulting and professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. ; increased investor and public relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most costs; and, amortization of software. In a continuing commitment to develop new and innovative communications solutions, the Company spent approximately 35% of 1999 sales on research and development ("R&D"), whereas only 25% of sales were spent on the preceding year's R&D efforts. The Electric WebMail product was completed in the third quarter of 1999 and will be a flagship product for the Company in the year 2000 and beyond. "1999 was a year of substantial progress and evolutionary change at Electric Mail. Major changes involving new leadership, new products and new directions closed out a year in which Electric Mail both re-energized and refocused itself. We have embarked on a path to achieve sustainable growth, supported by a solid infrastructure of both technical and human resources," said 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. Iain J.S. Black.
Financial and Operating Highlights
1999 1998
Revenues $1,105,660 $1,017,942
Cost of Sales 321,387 229,832
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Gross Margin 784,273 788,110
Expenses 2,210,766 1,485,665
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Net Loss ($1,426,493) ($697,555)
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Loss per share ($0.17) ($0.10)
Cash & short-term investments $1,948,019 $1,159,712
Working capital 1,953,539 1,168,358
The Electric Mail Company Inc.'s annual report and Annual General Meeting proxy materials Proxy Materials Documents regulated by the Securities & Exchange Commission in which a public company outlines its methods and procedures. These documents are used to inform shareholders and solicit votes for corporate decisions, such as the election of directors and other will be mailed to shareholders the week of May 15, 2000. About The Electric Mail Company Inc. The Electric Mail Company Inc. (CDNX:ELE.) is a leading provider of robust business-to-business email and Internet communications solutions in North America. The Company is positioned at the forefront of the email and Internet communications outsourcing sector with strategic relationships with AT&T Global Network, Lotus, Novell and TELUS TELUS Telemetric Universal Sensor . The Company serves major corporations, wireless companies, web portals, ISPs and web-hosting and management companies throughout North America, and boasts a client list including Rogers AT&T Wireless, Delta Hotels and Resorts, Fuji Photo Film Canada, HSBC Bank Canada HSBC Bank Canada (Traditional Chinese: 加拿大滙豐銀行; Pinyin: ), formerly the Hongkong Bank of Canada and Placer Dome. E-mmunity and The Electric Mail Company are registered trademarks of The Electric Mail Company Inc. Other names may be trademarks of their respective company. The Canadian Venture Exchange The Canadian Venture Exchange (CDNX) is now a defunct stock exchange having been acquired by the TSX Group in 2001 and renamed the TSX Venture Exchange. History of the Canadian Venture Exchange (CDNX) has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. |
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