Proginet Corporation Announces Third Quarter Results.Business Editors GARDEN CITY, N.Y.--(BUSINESS WIRE)--June 16, 2000 Proginet Corporation (VSE See DOS/VSE. VSE - Virtual Storage Extended :PRFu.V) announced its financial results for the third fiscal quarter ending April 30, 2000. Revenues for the quarter increased by 11 percent to $1,159,246 versus $1,041,895 for the comparable quarter the previous year. Proginet reported a loss of $115,612, compared to a gain of $58,307 for the same period last year. For the second consecutive quarter, international sales represented over fifty percent of new license sales and can be expected to grow as Proginet further expands its global distributor network. For the three quarters ending April 30, 2000, Proginet revenues were $3,143,299 versus $3,416,194 for the comparable period the previous year, an overall successful outcome despite the previously reported revenue decline attributed to the Y2K-related corporate software purchasing lockdown. Year-to-date, Proginet reported a loss of $553,208, compared to a gain of $357,924 for the comparable period last year, also reflecting the previously reported Y2K decline. Proginet 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. Kevin M. Kelly stated, "We are particularly pleased to report the significant contribution of international sales to new license revenues, reinforcing the Company's ongoing strategy to engage and support strong local distributors in markets around the world. Reinforcing this commitment, the Proginet Indirect Channels team has just concluded a twelve-city European campaign to support our vendors." Investor Update Conference Call The company will hold an informational investor conference call on Tuesday, June 20, 2000 at 4:30 EDT to provide investor updates and answer questions. Please call (516) 248-6253 by 12 p.m. EDT on Tuesday, June 20, 2000 to register for the conference call. Proginet Corporation develops state-of-the-art software applications that integrate multiple computing environments for e-businesses running OS/390 from IBM (NYSE NYSE See: New York Stock Exchange :IBM), Windows from Microsoft (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 :MSFT MSFT Microsoft (stock symbol) MSFT Movimento Sociale Fiamma Tricolore (Italy) MSFT Multi-Stage Fitness Test MSFT Master of Science in Family Therapy MSFT Macalester Students for Fair Trade ) and UNIX UNIX Operating system for digital computers, developed by Ken Thompson of Bell Laboratories in 1969. It was initially designed for a single user (the name was a pun on the earlier operating system Multics). platforms from Sun Microsystems (NASDAQ:SUNW SUNW Sun Microsystems, Inc (former stock symbol; now JAVA) SUNW Stanford University Network Workstation (Sun Microsystems, Inc) ), Hewlett-Packard (NYSE:HWP), and others. Proginet's software products address the systems management software space, including enterprise managed data transfer, Internet managed data transfer and password management. Proginet's CyberFusion(TM) software allows information to be used anywhere, anytime and in any way. Proginet's SecurPass(TM) software streamlines enterprise password management and cuts help desk costs. For additional information, please visit the Proginet Web page at http://www.Proginet.com. (c) 2000 Proginet Corporation/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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