|
MYSOFTWARE
ANNOUNCES RECORD QUARTERLY RESULTS
Gross revenue up 38% over Q1 1998.
Revenues and Net Income at record levels.
PALO
ALTO, Calif. Ø April 21, 1999 Ø MySoftware (Nasdaq:
MYSW), a leader in Internet direct marketing services and software for
small businesses, today announced results for the three-month period
ended March 31, 1999. The announcement marks another record-setting
quarter for the Company.
For
the three months ended March 31, 1999, MySoftware's revenues increased
38 percent to $4.3 million from $3.1 million in the same quarter last
year. For the first quarter, MySoftware reported a net income
of $299,000, or $.06 per share, compared to a net loss of $190,000,
or $.04 per share a year ago.
The
increase in revenues was due primarily to continued success in the core
annuity, Original Equipment Manufacturers (OEM), and retail channels.
The Company was also very pleased with the revenues to date generated
by the Internet Marketing Services Group, for which MyProspects.com
is the primary product offering.
The
Company had $4.7 million in cash and cash equivalents and working capital
of $5.1 million as of March 31, 1999. MySoftware has no debt.
"I
am glad to start 1999 with another record quarter in terms of revenues
and net income. Revenues are up across the board, as are profits," said
Gregory Slayton, president and CEO. "We are working full speed to develop
and expand our position in the Internet direct marketing space, especially
in the small business sector. The higher first quarter expenses in product
development and Web marketing reflect our dedication in this area. However,
the entire MySoftware team is committed to continuing to be one of the
few profitable and growing Internet companies."
Slayton
added: "We are strategically positioning our Internet services to provide
future revenue growth for the Company. We believe that we are the only
company in the world with a complete direct marketing solution for small
and medium sized businesses, and we intend to build on that position.
We are now partnering with some of the strongest small business-focused
brands on the Internet, such as Intuit, Netscape, and ZDNet. We
have also reached an agreement with Apple and successfully ported MyProspects
to the Macintosh platform in Q1. Furthermore, small business leaders
Ameritech and Pitney Bowes have chosen to private label MyProspects.com
and market it directly to their millions of small business customers.
With a proven business model, best of breed Internet services and software,
and a growing line-up of world class partners, we hope to become a leader
in the rapidly growing Internet direct marketing services space."
About MySoftware
MySoftware (Nasdaq: MYSW) combines powerful software with effective,
affordable Internet and annuities solutions to easily turn any PC into
a direct marketing powerhouse. MySoftware's complementary Internet services
are dedicated to helping businesses find new customers (www.MyProspects.com)
to grow their businesses. MySoftware actively works with some of the
world's best-known companies to provide productivity solutions for their
small business customers. More information on MySoftware and its alliances
and products is available at www.MySoftware.com.
Forward
Looking Statements
To the extent that any of the statements contained herein relating
to the Company are forward-looking, such statements are based on current
expectations that involve a number of uncertainties and risks. Such
uncertainties and risks include, but are not limited to, the development
of new products and new selling channels, the enhancement of existing
products, the dependence on principal customers, competitive pricing
pressures, product volume and mix, timing of orders received, and the
introduction of competitive products having technological and/or pricing
advantages. As a result, the Company's operating results may fluctuate,
especially when measured on a quarterly basis. For further information,
refer to the risk factors included in the Company's Annual Report 10-KSB
for the year ended December 31, 1998 and the Company's Quarterly Report
10-QSB for the quarter ended September 30, 1998 as filed with the Securities
and Exchange Commission.
|
