Excalibur announces preliminary first quarter revenue results.MCLEAN, Va.--(BUSINESS WIRE)--May 7, 1996--Excalibur Technologies (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :EXCA EXCA Exchangeable Card Architecture EXCA European Expanded Clay Association (Brussels, Belgium) ), Tuesday announced that the company expects that its revenue for the first quarter ended April 30, 1996 will increase approximately 10% from revenue of $3.6 million in the first quarter last year. It is anticipated that a loss will be reported for the first quarter. Commenting on the expected results of the quarter, Patrick C. Condo, president and chief executive officer, stated, "Excalibur has undertaken major transitions in both its target markets and its business model, from document imaging to Internet and intranet server markets, and from a direct sales model to one of strategic and channel partnerships. "We are pleased to have continued to grow our revenue during this period of rapid and fundamental change, and we are optimistic about the market opportunities we are encountering, and about the products we are developing and introducing to support those opportunities. We continue to win around the world in situations where customers require highly accurate and scaleable information retrieval information retrieval Recovery of information, especially in a database stored in a computer. Two main approaches are matching words in the query against the database index (keyword searching) and traversing the database using hypertext or hypermedia links. systems." These estimated results are preliminary, unaudited and based on partial information that is currently available, and on management assumptions. The company plans to announce actual results for the quarter on May 30, 1996. Forward-looking statements in this release are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions 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. Investors are cautioned that forward-looking statements involve risks and uncertainties, including the timely development, release and acceptance of new products, the impact of competitive products and pricing, and other potential factors that could affect the company's financial results as described in the company's annual report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and other documents filed with the Securities and Exchange Commission. Excalibur Technologies Excalibur Technologies Corp. has set the standard for excellence in information retrieval since 1980, leading the industry in high-performance search and retrieval solutions to the online, federal and corporate intranet markets. Only Excalibur delivers toolkits and imaging applications based on both pattern recognition and semantic network (data) semantic network - A graph consisting of nodes that represent physical or conceptual objects and arcs that describe the relationship between the nodes, resulting in something like a data flow diagram. searching, simultaneously leveraging the underlying patterns of digital information, and the actual meaning of words. Excalibur's RetrievalWare (TM) provides the first set of tools optimized for creating retrieval solutions for text, images and other forms of digital media. Excalibur is a publicly held corporation trading under NASDAQ (EXCA). Contact Excalibur 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. at 703/790-2110, in the United Kingdom at 44-1344-893-444, and on the World Wide Web at http://www.excalib.com. -0- Excalibur Technologies Corp. and the Excalibur logo are registered trademarks of Excalibur Technologies Corp. RetrievalWare is a trademark of Excalibur Technologies Corp. CONTACT: Excalibur Technologies Corp. Judith Feder, 914/328-2962, jfeder@excalib.com Jim Buchanan, CFO See Chief Financial Officer. , 703/790-2110 |
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