Global DataTel Reports Third Quarter/Nine Month Results.DELRAY BEACH Delray Beach, resort city (1990 pop. 47,181), Palm Beach co., SE Fla., on the Atlantic coast; settled 1895, inc. 1911. Mostly residential, Delray Beach is also the trade center for a citrus-fruit and vegetable-growing region. , Fla.--(BUSINESS WIRE)--Nov. 10, 1999-- eHOLA.Com Records First Revenues Global DataTel, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : GDISE) announced today that for the third quarter of 1999, ending September 30, 1999, its OnLine Services Division, which operates the Latin American Internet Service Provider Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. and portal, eHOLA.com, recorded its first revenues and decreased its operating loss operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. by 27 percent from the preceding quarter. For the quarter ending September 30, 1999, Global DataTel, Inc., on a consolidated basis reported revenue of $2,279,982 and a net loss of $711,559 or $.03 per share. For the nine months ending September 30, 1999, consolidated revenue was reported at $9,583,440 with a net loss of $1,982,596 or $.08 per share. The Information Services See Information Systems. Division recorded sales of $2,261,140 , a decrease from sales of $5,621,769 recorded in the similar quarter one year ago. On a nine month basis, sales were $9,564,598, a decrease of 60 per cent from sales for this division one year ago. This is attributed primarily to the company's decision in the second and third quarters of this year to operate on a commission basis with the company's major supplier, reflecting a conservative approach to the political climate of Latin America at that time. During the third quarter, the company returned to limited direct sales in Latin America. According to the company's third quarter filing, the reduction in the loss of the OnLine Services Division was a result of both increased revenue as well as operating efficiencies instituted during the quarter. Revenue for the OnLine Services Division was $18,842, with a loss of $609,000. Richard Baker, President and Chief Executive Officer of Global DataTel, Inc. noted that the third quarter OnLine Services Division revenues do not take into account the expected increase in subscribers to eHOLA.com as a result of the IBM Aptiva PC pre-load or the introduction of Planet Web-enabled devices into the Latin American market. Both of these key agreements are expected to be reflected more fully in the fourth quarter of 1999. Global DataTel, Inc. is a Latin American leader in medium to large system integration projects. A First Tier 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) Business Partner, Global distributes Compaq, Dell, Hewlett-Packard and Cisco hardware as well. Global is also a Microsoft Solution provider, Lotus Premier Team Provider and a distributor of JBA (JBA International, Inc., Rolling Meadows, IL) A global developer and supplier of enterprise resource planning (ERP) software for AS/400, Unix and NT platforms. Founded in 1981 as Johnston Brown Associates, in 1999, it was acquired by Canadian-based Geac Computer Corporation. International E.R.P. company. It's wholly-owned subsidiary, eHOLA.com Online Service Network (www.ehola.com) offers integrated Internet access in Spanish or Portuguese to individuals in North, Central and South America, providing consumer and business dial-up and dedicated Internet access to 305 cities throughout Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, El Salvador, Guatemala, Mexico, Paraguay, Peru, the United States and Venezuela. This release contains forward-looking statements that 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 Securities 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. Forward-looking statements involve the known and unknown risks and uncertainties that may cause the company's actual results in future periods to differ materially from that which is anticipated. These risks are spelled out in the company's filings with the U.S. Securities and Exchange Commission. |
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