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Artificial Life Announces First Profitable Quarter and Revenue Growth of 320% Chairman and CEO re-elected until 2004 NEW YORK, Nov. 7 /PRNewswire/ -- New York based Artificial Life, Inc. (OTC Bulletin Board: ALIF - news), a leading provider of award winning intelligent software robot (bot) and Life Science technology, today announced results for the third quarter ended September 30, 2001. Third quarter Q3 2001 revenues were $1,085,500 compared to $258,445 for the second quarter of 2001, an increase of $827,055 or 320%. Artificial Life also generated the first quarterly profit in the Company`s history with a net profit of $269,687 for the third quarter 2001. This is to be compared to a net loss for the second quarter of 2001 of $3,293,420. The profit per share for the third quarter 2001 was $0.02 compared to a loss per share of $0.32 for the second quarter 2001. The Company also announced that the Board of Directors and the founder, CEO and Chairman Eberhard Schoeneburg have renewed his contract with the Company for two more years and that he has been re-elected by the Company`s shareholders at the annual shareholder meeting as the Chairman of the Board of Directors until 2004. ``We are very satisfied with the results of this quarter and our first ever profits. Turning over $3.2 million of quarterly losses into a substantial profit is quite an achievement. It shows that the turn-around plan is working and the rebuilding of the Company is now well on its way. We also have great new partners and the new Life Science division is showing its first promising activities,`` said Eberhard Schoeneburg, CEO of Artificial Life, Inc. ``This was the best quarter in our history. The numbers speak for themselves. Costs are under control and revenues attained a level to provide profitable results. We now focus and work on shareholder value and maintaining profitability going forward,`` said P. Chin Lim, CFO of Artificial Life. |
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| aus der Diskussion: | Artificial Life bankrott ? |
| Autor (Datum des Eintrages): | superman (07.11.01 17:26:31) |
| Beitrag: | 141 von 292 (ID:4821982) |
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