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Tuesday August 14, 4:46 pm Eastern Time Press Release SOURCE: Artificial Life, Inc. Artificial Life Releases Q2 2001 Results and Sees Strong Recovery in Q3 Company expects significant profits in Q3, 2001, first time in corporate history NEW YORK, Aug. 14 /PRNewswire/ -- New York based Artificial Life Inc. (Nasdaq: ALIF - news), a leading provider of award winning intelligent software robot (bot) technology for Internet applications, today announced results for the second quarter ended June 30, 2001. Second quarter 2001 revenues were $258,445 compared to $1,441,043 for the first quarter 2001, a decrease of $1,182,598 or 82%. The net loss for the second quarter 2001 was $3,293,420 compared to $4,063,794 for the first quarter 2001, a decrease of $770,374 or 19%. The net loss for Q2 contains one time charges for re-structuring of $396,676 and a one time compensation for stock options and warrants issued of $334,000. Loss per share for the second quarter 2001 was $0.32 compared to $0.39 for the first quarter 2001. ``We have seen the bottom of the markets in Q2. However, customer demand for our products and services is rising again as existing and potential clients re-gain confidence in Artificial Life and begin to see that Artificial Life will survive the Internet `fall-out.` Our new business model works very well and we are recovering strongly and expect to be profitable in Q3, 2001, for the first time ever. Our goal is now to carefully re-build the Company with a clear focus on profits and increasing shareholder value. We will also announce an expansion of our current business activities with a separate release soon,`` said Eberhard Schoeneburg, CEO of Artificial Life. ``The tough cost reduction and down-sizing program we have implemented worked well. The overall positive effect is not really reflected yet in the Q2 numbers. The current monthly burn-rate in Q3 is just a small fraction of last years numbers and even of the Q1 and Q2 numbers. At the same time sales are going back up again. Revenues up to date in Q3 are already more then 300% higher then all of Q2. The combination of these factors is the basis for our future profit expectations,`` said P. Chin Lim, CFO of Artificial Life, Inc. About Artificial Life Founded in 1994, Artificial Life, Inc. (Nasdaq: ALIF - news) develops, markets, and supports intelligent software robots for the Internet. The company offers a variety of unique and award winning bot-based product suites for web navigation and consultative selling, natural language processing, e-CRM, e-Finance and Mobile Computing applications. Major customers of Artificial Life include, among others, Advance Bank, Credit Suisse First Boston, Eagle Star, Liechtenstein Global Trust, MobilCom, Pioneer Investments, PricewaterhouseCoopers, UBS and ZDF. Artificial Life, Inc. is headquartered in New York City, NY, U.S.A, and maintains a subsidiary in Hong Kong. Detailed information about Artificial Life, Inc. and its products is available at www.artificial-life.com For further information regarding this release, please contact: Chin Lim, CFO, at (1) 212 829 43 86 or via e-mail at: chin.lim@artificial-life.com ``Safe Harbor`` Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Artificial Life, Inc.`s business which are not historical facts are ``forward-looking statements`` that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ``Risk Factors`` in the Company`s Annual Report or Form 10-K for the most recently ended fiscal year. SOURCE: Artificial Life, Inc. |
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| aus der Diskussion: | Artificial Life bankrott ? |
| Autor (Datum des Eintrages): | superman (15.08.01 06:53:00) |
| Beitrag: | 104 von 292 (ID:4202653) |
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