Zengine Announces Unaudited Fiscal Fourth Quarter 2001 Financial Results.Business Editors & High Tech Writers BERKELEY Berkeley (bûr`klē), city (1990 pop. 102,724), Alameda co., W Calif., on the E shore of San Francisco Bay just N of Oakland; inc. 1878. Originally (1820) part of a Spanish rancho, the site was purchased by Americans in 1853. , Calif.--(BUSINESS WIRE)--Oct. 25, 2001 Zengine, Inc. (Nasdaq:ZNGN), an outsourced e-commerce e-commerce, commerce conducted over the Internet, most often via the World Wide Web. E-commerce can apply to purchases made through the Web or to business-to-business activities such as inventory transfers. software and services provider, today reported financial results for the quarter and fiscal year ended September September: see month. 30, 2001. For the fourth fiscal quarter ended September 30, 2001: -- Revenues were $4.1 million, compared to revenues of $3.2 million for the quarter ended September 30, 2000. -- Gross profits were $0.9 million, compared to gross profits of $2.6 million for the quarter ended September 30, 2000. -- Net loss was $1.3 million, as compared to a net loss of $0.4 million for the quarter ended September 30, 2000. -- Loss per share (basic and diluted) was $0.09, based upon weighted average shares (basic and diluted) outstanding of 14,461,844 as compared to a loss per share of $0.03 for the quarter ended September 30, 2000 based upon weighted average shares (basic and diluted) outstanding of 12,078,039. Zengine has entered into an agreement and plan of reorganization with MCSi, Inc., pursuant to which MCSi has agreed to purchase all of the outstanding shares of Zengine common stock not already owned by MCSi at a fixed exchange ratio of 0.2259 shares of MCSi common stock for each share of Zengine common stock. Pursuant to the agreement, MCSi is currently conducting a tender offer for Zengine shares which expires at 5 p.m. on Friday Friday: see Sabbath; week. Friday young Indian rescued by Crusoe and kept as servant and companion. [Br. Lit.: Robinson Crusoe] See : Servant , November November: see month. 16, 2001. MCSi has filed tender offer documents with the Securities and Exchange Commission. These documents may be obtained from the SEC's public reference room (1-800-SEC-0300), the SEC's website www.sec.gov or from MCSi's Information Agent, MacKenzie Partners, Inc. at 156 Fifth Avenue, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , New York 10010, (212) 929-5500 (call collect) or toll free at 1-800-322-2885. About Zengine Zengine, Inc. is an outsourced e-commerce software and services provider. Zengine helps companies sell more efficiently. Zengine's e-commerce platform makes it easy for companies to sell their products online while remaining focused on what they know best, their core business. This platform ensures that the right information gets to the right people at the right time so that individuals are empowered to make smarter business decisions. Zengine's e-commerce platform provides a standardized standardized pertaining to data that have been submitted to standardization procedures. standardized morbidity rate see morbidity rate. standardized mortality rate see mortality rate. , modular framework that can be customized quickly and easily to scale, add functionality, and provide seamless software upgrades to meet the specific requirements of individual clients. Industry leaders utilizing Zengine's software and services to increase online sales include Hitachi, InFocus, Sharp and Universal Studios. For more information, call (800) 811-0486, e-mail info@zengine.com, or visit www.zengine.com (which is not part of this release). The matters disclosed in this press release which are not historical facts, contain forward-looking information with respect to the plans, projections or future performance of Zengine, Inc., the occurrence of which involve risks and uncertainties which include, but are not limited to, general economic conditions, e-commerce industry trends, lengthy sales cycles, possible performance delays, Zengine's dependence upon its affiliate, MCSi, Inc., Zengine's ability to retain its employees and manage its growth, functionality of its computer hardware and software, Zengine's intellectual property rights and their protection, the control exercised by MCSi over Zengine's affairs, and other factors which are described in Zengine's 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. for the year ended September 30, 2000 and the Form 10-Q Form 10-Q See 10-Q. for the quarter ended June 30, 2001. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . Furthermore, Zengine, Inc. does not intend (and is not obligated ob·li·gate tr.v. ob·li·gat·ed, ob·li·gat·ing, ob·li·gates 1. To bind, compel, or constrain by a social, legal, or moral tie. See Synonyms at force. 2. To cause to be grateful or indebted; oblige. ) to update publicly any forward-looking statement. The Zengine name, KORE Kore, in the Bible Kore (kō`rē), in the Bible. 1 Family of temple doorkeepers. 2 Levite under Hezekiah. Kore, in Greek religion Kore, in Greek religion: see Persephone. , KOG KOG Kodiak Oil & Gas Corp (stock symbol) KOG Kudoz Open Glossary KOG King of Games (gaming website in Japan) KOG Kokomo Opalescent Glass (stained glass manufacturer) , KIT and certain other taglines, titles and logos of our products and other products and services mentioned in this press release are either our trademarks or service marks or trademarks or service marks that have been licensed to Zengine or are owned by others. Each trademark, trade name, or service mark of any other company appearing in this press release belongs to its holder.
Zengine, Inc. Statement of Operations
Three Months Ended September 30,
2001 2000
(unaudited) (unaudited)
Net sales $ 4,063,211 $ 3,246,665
Cost of sales 3,136,985 666,489
Gross profit 926,226 2,580,176
Selling, general
and administrative expenses 2,567,535 3,017,280
Operating loss (1,641,309) (437,104)
Interest income 385,703 32,402
Net loss (1,255,606) (404,702)
Loss per share of common stock
Basic and diluted ($0.09) ($0.03)
Weighted average number
of common shares outstanding
Basic and diluted 14,461,844 12,078,039
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