 |
        |
           |
|
|
|
MapInfo Announces Record First Quarter Financial Results and 30% Revenue GrowthOperating Income Rises 116%; Net Income Up 65%TROY, NY - January 18, 2000 - MapInfo Corporation (Nasdaq:MAPS) today announced financial results for the three months ended December 31, 1999. Revenues for the first quarter of fiscal 2000 increased 30% to $21,019,000 from $16,145,000 for the first quarter last year. Operating income increased 116% to $1,317,000 from $610,000 in the same period a year ago. Net income for the first quarter was $1,002,000, or $0.11 per share (post split), versus $608,000, or $0.07 per share (post split), in the prior year period. “Our performance this quarter marks a great start to fiscal 2000 and builds on the Company’s momentum,” said John Cavalier, president and CEO. “Our ongoing success is grounded in MapInfo’s unique value proposition: delivering location-based business intelligence that helps our customers acquire, retain and maximize their customer relationships. For this reason, we are gaining recognition in the marketplace as a provider of Customer Relationship Management (CRM) solutions. “This is clearly evident in the number of orders in our target markets for CRM solutions, a significant part of our business this quarter and represents well over half of our revenues. The telecommunications industry remains MapInfo’s principal sector accounting for the majority of our CRM-based revenues this quarter. At the same time, we are seeing growing interest in CRM solutions from new customers in retail and financial services.” Cavalier concluded, “Based on our strong performance this quarter, we are on track to achieve our financial objectives for fiscal 2000. We intend to accomplish this by broadening our presence in the CRM solutions marketplace across all our target industries. We also intend to set the stage for future growth from new initiatives such as online application services and new entries in the Wireless Internet Market.” About MapInfo MapInfo Corporation enables customers to use location to transform information into business advantage. A global company and technology leader, MapInfo provides business intelligence solutions that are deployed across organizations to help them better understand their markets and customers. MapInfo solutions are available in 21 languages through a network of strategic partners and distribution channels in 58 countries. Headquartered in Troy, NY, MapInfo Corporation is on the World Wide Web at www.mapinfo.com. Of Note This press release contains forward-looking statements that involve a number of risks and uncertainties, including any statement that is not a statement of historical fact, such as statements using the word “believe.” Among the important factors that could cause actual results to differ from those indicated by such forward-looking statements are delays in product development schedules, competitive and market conditions, and the other risk factors detailed in the Company’s Annual Report on Form 10-K for fiscal 1999. CONTACT: MapInfo Corporation D. Joseph Gersuk, EVP/CFO Barbara Pilliod, Public Relations Director www.mapinfo.com 518-285-6000 www.mapinfo.com
|
Sponsored by: For information regarding advertising rates Click Here! |
Copyright© 1995-2012 MindSites Group / Privacy Policy
GeoCommunity™, Wireless Developer Network™, GIS Data Depot®, and Spatial News™
including all logos and other service marks
are registered trademarks and trade communities of
MindSites Group