Everyware Development Inc. Announces Results for Quarter Ended December 31.MISSISSAUGA, Ontario--(BUSINESS WIRE)--Jan. 20, 1998-- Company Posts 68 Percent Revenue Growth EveryWare Development Inc. today announced results for the most recent quarter. Revenue for the quarter ended December 31, 1997 increased 68 percent to $2,680,969 compared to $1,592,403 in the similar period in 1996. This also represents 28 percent growth over the company's last quarter ending September 30, 1997. Operating profit Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. was $246,171. Net income for the quarter was $9,585, compared to a loss of $1,816,955 in the corresponding period in 1996. "Shipping a major upgrade while executing 28 percent quarter-on-quarter revenue growth and returning to profitability is very satisfying," said Don Whitbeck, EveryWare's President & 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. . "We have completed the re-focussing of the company that first begun in July, and we are now well positioned to take advantage of significant growth." Most of the revenue for the quarter was attributed to EveryWare's recently announced Tango version 3. Announced in October and shipped in December, Tango 3 is the company's award winning, dynamic Web site authoring tool. The company saw the most rapid growth in the use of its products for Intranet application development and delivery. "Intranet applications represent the largest growth opportunity for EveryWare, simply because Intranet application development and deployment are easily cost justified over more traditional client/server applications," said Mr. Whitbeck. "When time to deployment is important, Web technologies are now considered the mainstream choice for corporate information systems." About EveryWare Development Inc. EveryWare is the leading developer of cross-platform software for the construction and analysis of dynamic Web sites. The company supports multiple operating environments, including Windows NT/95, Sun Solaris, IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) AIX (Advanced Interactive eXecutive) IBM's Unix-based operating system which runs on its Intellistation workstations and pSeries, p5, iSeries and i5 server families. , SGI (SGI, Sunnyvale, CA, www.sgi.com) A manufacturer of workstations and servers, founded in 1982 by Jim Clark. The company was founded as Silicon Graphics, Inc., but changed to its acronym in 1999. IRIX A Unix-based operating system from SGI that is used in its computer systems from desktop to supercomputer. It is an enhanced version of Unix System V Release 4. IRIX integrates the X Window system with OpenGL, creating the first real time 3D X environment. , and Apple Macintosh. EveryWare has three key products: Tango Enterprise Development Studio, a Web application development toolset; Tango Enterprise Application Server, a Web application deployment system; and Bolero bolero (bəlâr`ō), national dance of Spain, introduced c.1780 by Sebastian Zerezo, or Cerezo. Of Moroccan origin, it resembles the fandango. , a Web site tracking and analysis application. Visit our Web site at www.everyware.com. For more information on EveryWare or any of EveryWare's products, call 888-819-2500 or 905-819-1173, or email us at info@everyware.com . EveryWare, the EveryWare logo and Tango Enterprise are trademarks of EveryWare Development Inc. Other product and corporate names may be trademarks or registered trademarks of other companies, and are used only for explanation and to the owners' benefit, without intent to infringe. -0- The Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). has neither approved nor disapproved the information contained herein. CONTACT: EveryWare Development Inc. Laurie Nava, 905/ 819-1173 x325 lnava@everyware.com |
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