IMSI Releases Q3 Results; Company Continues to See Major Improvement In 3D Design Software Category.Business Editors and High-Tech Writers NOVATO, Calif.--(BUSINESS WIRE)--May 17, 2001 IMSI IMSI International Mobile Subscriber Identity IMSI International Microcomputer Software, Inc. IMSI International Mobile Station Identity (now International Mobile Subscriber Identity) IMSI Idaho Maximum Security Institution (R), (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :IMSI), developer of design software, including TurboCAD(R) and FloorPlan(R), and owner of ArtToday.com and Design.NET, today announced net revenues of $3,107,000 for the quarter ended March 31, 2001, compared with net revenues of $2,968,000 for the same period a year ago. The company reported a net loss of $690,000 or ($0.07) per share and an 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. of $126,000 for the three months ended March 31, 2001, compared with a net loss of $5,594,000 or ($0.77) per share and an operating loss of $1.49 million for the same period a year ago. "IMSI has generated over $2.5 million in EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become over the last 12 months," said Geoffrey Koblick, 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. and president of IMSI. "Our game plan going forward is threefold. One, grow sales of our design software products like TurboCAD and FloorPlan 3D into corporate, government and educational channels; two, expand ArtToday's leadership role in providing graphics on the Internet; and three, introduce Design.NET which provides 3D visualization and design technology over the Internet." For the three months ended March 31, 2001, gross margin increased to $2,387,000 or 76.8 percent of revenues, compared with $1,673,000 or 56.4 percent for the same period in 2000. For the nine months ended March 31, 2001, gross margin increased to $6,878,000 or 73.2 percent of revenues compared with $5,323,000 and 35.8 percent of revenues for the same period in 2000. "The increase in gross margin was primarily attributable to our new business model of using republishers to distribute our products to the retail sales channels and strengthening our internal focus on direct sales," said Koblick. "On the heels of releasing the acclaimed TurboCAD v7 early this year, IMSI just released FloorPlan v6," said Koblick. "IMSI now offers the only popularly priced, integrated software Separate software components or applications that have been combined into one package. See integrated software package. solution for quick, easy, 3D graphics visualization that ramps up to full scaled computer-aided design computer-aided design (CAD) or computer-aided design and drafting (CADD), form of automation that helps designers prepare drawings, specifications, parts lists, and other design-related elements using special graphics- and calculations-intensive . An upgrade to the company's HiJaak software is expected in the next quarter as well." "ArtToday continues to be one of the highest trafficked graphics sites on the Internet with over 1.5 million unique visitors A count of how many different people access a Web site. For example, if a user leaves and comes back to the site five times during the measurement period, that person is counted as one unique visitor, but would count as five "user sessions. per month," said Koblick. "Subscribers to ArtToday get access to over 1.25 million graphics for a yearly subscription price of between $29.95 and $99.95. "ArtToday has just gone live with a new site called RebelArtist.com, which allows users to buy and sell photos or graphics on the site and then charge for them on a per-image basis. We also intend to license the ArtToday Image Database Technology to corporations for their internal image management needs." "We continue to show tangible progress on Design.NET. This Web-based, 3D technology will be a valuable part of future versions of TurboCAD and FloorPlan 3D. More importantly, we believe that Design.NET technology will be licensed to companies around the world that need real-time, online 3D visualization and design." The complete Q3 report is available on EDGAR Edgar or Eadgar (both: ĕd`gər), 943?–975, king of the English (959–75), son of Edmund, king of Wessex. In 957 the Mercians and Northumbrians rebelled against Edgar's brother Edwy and chose Edgar as their king. at: http://www.sec.gov/ About IMSI IMSI owns and operates three business divisions: Design Software, ArtToday.com and Design.NET. The company's Design Software division is based on award-winning TurboCAD computer aided design (application) Computer Aided Design - (CAD) The part of CAE concerning the drawing or physical layout steps of engineering design. Often found in the phrase "CAD/CAM" for ".. manufacturing". software (winner of PC Direct Editor's Choice -- see TurboCAD.com) and FloorPlan3D home design software (winner of PC Magazine Editor's Choice -- see FloorPlan.com). The company has sold more than 2 million units of these software products to date and has invested 15 years in the development of this technology. ArtToday.com is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of IMSI and offers 1.25 million images, photos, fonts and other digital content over the Internet. Design.NET's charter is to offer design online with 3D viewing and editing. Visit IMSI Web sites at www.imsisoft.com, www.arttoday.com, www.turbocad.com, www.rebelartist.com, and www.floorplan.com. 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. Statement This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Actual results could differ materially from those projected in the forward-looking statements as a result of various factors including the ability of the company to successfully commercialize its new technologies as well as risk factors set forth under "Factors Affecting Future Operating Results" 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 such other risks detailed from time to time in the company's reports filed with the Securities and Exchange Commission. The company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements, which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Note to Editors: IMSI and ArtToday are registered trademarks of International Microcomputer Software Inc., and ArtToday Inc., respectively. All other products are the trademarks or registered trademarks of their respective owners. |
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