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ots Ad hoc-Service: INTERSHOP Communications
Intershop announces Expected Results for the Third Quarter
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San Francisco/Hamburg (ots Ad hoc-Service) - Intershop announces Expected Results for the Third Quarter
Intershop Communications (Neuer Markt: ISH, NASDAQ: ISHP) today announced expected financial results for the third quarter ended September 30, 2000. Intershop currently expects to report revenues for the third quarter 2000 in the range of 34 to 35 million Euro compared to 10.5 million Euro recorded in the third quarter of 1999, representing an increase of approximately 200%. Total revenue also increased sequentially from second quarter 2000 revenue of 32.6 million Euro. Software license fees for third quarter 2000 are expected to be in the range of 19 to 19.5 million Euro.
"Our expected revenues would reflect our eleventh consecutive quarter of sequential revenue growth. This would also mean that on an annual comparison basis, we can again more than triple our quarterly revenues for the fourth time in a row." stated Wilfried Beeck, Intershop's chief financial officer. He continued, "We traditionally experience a slowdown in license revenue growth in the third quarter, mainly due to reduced business activity in the software industry in Europe during the summer months."
The Company expects to report a loss for the third quarter due to one time charges associated with (i) a 7 million Euro advertising campaign in the U.S.; and (ii) acquisition related costs associated with the purchase of two technology companies OWIS and Subotnic which brought almost 150 new employees to the company. CFO Wilfried Beeck stated, "As part of our long-term growth strategy these investments are necessary in order to strengthen our market position for future growth."
These statements are based on preliminary financial results. Intershop will release complete financial results for the third quarter by the end of October, 2000. The company does not intend to provide any further communication regarding performance for the quarter until that date and does not undertake any obligation to update forward-looking statements.
This press release may contain forward-looking statements regarding future events or the future financial and operational performance of Intershop. Actual events or performance may differ materially from those contained or implied in such forward-looking statements. Risks and uncertainties that could lead to such difference could include, among other things: Intershop's limited operating history, the unpredictability of future revenues and expenses and potential fluctuations in revenues and operating results, consumer trends, the level of competition, seasonality, the timing and success of international expansion efforts, risks related to electronic security, possible governmental regulation, and the ability to manage a rapidly growing business. Additional information regarding factors that potentially could affect Intershop's business, financial condition and operating results is included in Intershop's filings with the Securities and Exchange Commission, including in the prospectus dated September 28, 2000 relating to Intershop's public offering of common stock.
EUROPEAN INVESTOR RELATIONS CONTACT: Dr. John Lange Director of Investor Relations INTERSHOP Communications AG Phone +49-40-23709-131/-128 Investorrelations@intershop.de
U.S. INVESTOR RELATIONS CONTACT: Philip Oreste Vice President of Finance Americas INTERSHOP Communications, Inc Phone +1-415-844-1500 email@example.com
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