| To: TFF who wrote (154) | 10/21/1999 10:54:00 AM | | From: Anthony@Pacific | | | |
MPPP<--------------Pure JUNK with a huge market cap!!!!!!!!!! Ignore all th upgrades ,, they are scammy Crim Firms, They have no basis whatsoever for the reccomendaytion.. Noone uses MPPP<--wher you can get al the crappy miusic you want for free!
|
| | Information Management Associates - (IMAA) | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last ReadRead Replies (1) |
|
| To: Anthony@Pacific who wrote (155) | 10/21/1999 7:33:00 PM | | From: BenThair | | | |
You said
MPPP<--------------Pure JUNK with a huge market cap!!!!!!!!!! Ignore all th upgrades ,, they are scammy Crim Firms, They have no basis whatsoever for the reccomendaytion.. Noone uses MPPP<--wher you can get al the crappy miusic you want for free!
Did you call this a short at wss or your private site? |
| | Information Management Associates - (IMAA) | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last ReadRead Replies (2) |
|
| To: BenThair who wrote (156) | 10/21/1999 7:39:00 PM | | From: Lance | | | |
Okay, okay, okay....now all the hype is gone, the stock has leveled/based at the 4-5 area for apporoximately 1 month. I'm banking on a new hype run soon for IMAA... This sucker is full of shorts just dying to for it to go lower, but if news, hype or upgrades hit the street this stock will soar once again. Just remember when the hype started: Internet incubator CMGI has quietly invested in a version of the reverse auction ecommerce idea that has made Priceline.com famous, by taking a 20% stake in tiny
Information Management Associates majority owned sub, buyingedge.com.
Buyingedge.com buyingedge.com launched in June imaedge.com , provides consumers and merchants with an
efficient way of conducting business over the Internet. Its personalized, secure marketplace creates a buyer centric model that benefits both consumer and merchant.
It enables registered members to submit requests for desired products to merchants who respond to the buyer and then compete for the sale.
I bought some today, under the impression that IMAA is bound to have a rally sooner than later!
Any other thoughts out there?
Lance |
| | Information Management Associates - (IMAA) | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last ReadRead Replies (1) |
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| To: BenThair who wrote (156) | 10/21/1999 8:51:00 PM | | From: Anthony@Pacific | | | |
Here are all the trading calls on MPPP since its IPO, teh answer is no
A@P Trading Calls MPPP<--I will maintain a core short til the end of time 9/27/99
A@P Trading Calls MPPP<--official cover @ 38 11/16 9/27/99
A@P Trading Calls MPPP<---reeneter at 41 again 15% 9/27/99
A@P Trading Calls correction MPPP release is out 9/27/99
A@P Trading Calls Reduce stop on MPPP to 41( protect profits 9/27/99
9/27/99
A@P Trading Calls Reduce stiop loss on MPPP to 43 9/27/99
A@P Trading Calls MPPP<--sell short another 10% @ 43 or better 9/27/99
A@P Trading Calls MPPP<--michaels moderated board 9/25/99
A@P Trading Calls MPPP<--- Bloombergs story in Trading Calls therad online 9/25/99
A@P Trading Calls MPP<--Bloomberg story after close 9/25/99
A@P Trading Calls MPPP<--sell short @ 37 3/4 ( 15% ) 9/24/99
A@P Trading Calls mppp<----cover @ 33 13/16 8/30/99
A@P Trading Calls MPPP<--short @ 36 --15% 8/24/99
A@P Trading Calls MPPP<--- cover @ 36 1/2 8/3/99
A@P Trading Calls MPPP<--re-entering 10% @ 40 SHORT! 8/2/99
A@P Trading Calls MPPP<---cover @ 68 1/8 this pass 7/21/99
A@P Trading Calls MPPP<--stop out at 80 1/2 7/21/99
A@P Trading Calls MPPP<---short @ 80-90 7/21/99
A@P Trading Calls MPPP<--cover @ 86 7/21/99
A@P Trading Calls MPPP <---short @ 101 stop 105 7/21/99 |
| | Information Management Associates - (IMAA) | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last Read |
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| To: Lance who wrote (157) | 10/23/1999 12:45:00 PM | | From: TFF | | | |
IMA Announces Its Internet Component Architecture -iCA-, the Customer Relationship Industry's First and Only Open, Object-Oriented, Component-Based Architecture
BusinessWire, Friday, October 22, 1999 at 08:34
Shelton, Conn.--(BUSINESS WIRE)--Oct. 22, 1999--
"Future-Proof " iCA Framework Speeds Development And
Implementation Of Customer-Centric CRM, eCRM, And CTI Applications
IMA (NASDAQ:IMAA) a leading global provider of synchronized,
multi-channel e-business solutions, today unveiled its innovative new
technology platform, the internet Component Architecture (iCA), which
will be used as the framework for the Company's recently announced
Demand Chain Management (DCM) offerings.
iCA is the industry's "first and only" open object-oriented (OO)
Java-centric component software architecture specifically designed to
support CRM, eCRM and CTI application development. This true OO
component architecture offers n-tiered scalability and promotes best
of breed solutions through re-useable e-business components such as a
robust open-rules engine, personalization services, interactive web
development, content development, self-service, and legacy
integration. Developed over the past two years, iCA fully supports
IMA's vision of demand chain management, by "DCM enabling" all
existing IMA EDGE desktop and CTI products, as well as most other
industry leading solutions in the CRM and eCRM market.
"The industry cannot wait the 2-3 years that industry analysts
believe it will take for a single company to deliver a complete CRM
and eCRM suite of solutions," said Al Subbloie, President and CEO of
IMA. "Overwhelming Web use by consumers is challenging businesses
everywhere. An industry consolidator is needed to overcome the
existing proprietary environment and embark on a ground-up technology
rewrite to provide a consistent DCM solution across all channels in an
n-tiered environment. iCA is this consolidator."
Unprecedented increases in Web traffic is forcing companies to
implement some demand processing on third-party web sites. Furthermore
current architectures are unable to integrate solutions from a variety
of vendors, and therefore cannot provide an "end-to-end" solution.
IMA's iCA is a unique solution that resolves most of these
industry problems. As an open architecture, iCA fully supports the
extension of any third-party technologies quickly, while exposing all
integration layers to the architecture. This allows companies to use
any third-party product they desire, or replace it with an internal
product, without affecting the rest of the architecture. Since iCA
acts as a buffer for applications and the operating system, businesses
will be able to migrate their solutions onto various standards, such
as Sun's Java and Enterprise Java Beans (EJB) and the Common Object
Request Broker Architecture (CORBA) from the Object Management Group
(OMG), and Microsoft Corporation's COM/DCOM. This allows companies to
plan for the future without the risk of obsolescence, and dramatically
speed up the delivery timeframe of new components.
"By deliberately building iCA as a Java-component architecture
based on a formal object model, IMA is providing a strong,
standards-based foundation for all of its components. The business
components built on the iCA are protected from technology obsolescence
while benefiting from a high degree of reuse and increased quality,"
said Daniel Riscalla, VP Engineering at IMA and chairman of the
Enterprise Customer Interaction Systems (ECIS) Special Interest Group
(SIG) of the OMG. "Since iCA was designed specifically for customer
interaction support, it can be used to construct full web and
telephony channel enabled CRM, and eCRM solutions by leveraging a
series of best-of-breed third party vendor and in-house solutions."
IMA was aided in their transition to enterprise component
technologies by Genesis Development(R) Corporation of West Chester, PA
(http://www.gendev.com). Working exclusively in large-scale
distributed object technology since 1987, Genesis has lent its
extensive expertise to IMA's development process to build this new
leading-edge architecture.
"IMA's commitment to iCA was evidenced through the extensive
allocation of key technical and management resources," noted Jason
Matthews, President/CEO of Genesis. "Working with Genesis' senior
architects, IMA has literally 'future-proofed' their architecture
through a strategic investment in enterprise component frameworks that
are reusable across many applications for years to come."
About IMA
IMA provides synchronized, multi-channel e-business solutions,
enabling businesses to create market demand, manage that demand, and
then respond to it in the most effective manner with world-class
customer interaction software solutions. Gartner Group ranks IMA as a
leader in customer service and support systems and as a visionary in
sales applications. Over 400 global organizations including Bose
Corp., Humana, ICT Group, Lloyds TSB, Texas Utilities, U.S. Cellular
Corp. and Xerox depend on IMA products and services to help grow their
business through the process of acquiring and retaining customers. IMA
has headquarters in Shelton, Connecticut and offices and
representatives worldwide. More information about IMA's products and
services can be found on the World Wide Web at www.imaedge.com,
requested via email at ima@imaedge.com or obtained by calling
1-203-925-6800.
NOTE: IMA and EDGE are registered trademarks of Information
Management Associates, Inc. All other trade names are trademarks of
their respective companies.
Except for the historical information contained in this
announcement, the matters discussed in this announcement are
"forward-looking statements" (as that term is used in the Private
Securities Litigation Reform Act of 1995) that involve risks and
uncertainties detailed from time to time in the Company's filings with
the Securities and Exchange Commission (the SEC). In particular, IMA
draws the reader's attention to the "Risk Factors" stated in the
Company's Registration Statement on Form S-1 dated July 30, 1997 and
its accompanying Prospectus, the Company's Quarterly Reports on Form
10-Q dated August 14, 1997, November 14, 1997, May 15, 1998, August
14, 1998, November 14, 1998, May 17, 1999 and August 16, 1999, the
Company's Annual Report on Form 10-K dated March 30, 1998 and March
31, 1999, as well as to the Company's periodic and current reports as
they are filed with the SEC.
CONTACT: For More Information Contact:
Glenda O'Neill
VP Worldwide Marketing
IMA
203/925-6800
glenda.oneill@imaedge.com
or
David King
G.S. Schwartz & Co.
212-725-4500
dking@schwartz.com |
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| To: TFF who wrote (159) | 10/27/1999 5:06:00 PM | | From: TFF | | | |
IMA Offers ChannelEDGE to Provide Comprehensive Management of Customer Interactions
SHELTON, Conn.--(BUSINESS WIRE)--Oct. 27, 1999--
The First Component Extending IMA's Internet Component
Architecture (iCA), Which Effectively Manages All
Incoming Customer Interactions From Phone Calls
To Internet Chat, Is The Hub Of Demand
Chain Management Vision
IMA (NASDAQ:IMAA - news), a leading provider of synchronized, multi-channel e-business solutions, today introduced the first component of its Demand Chain Management (DCM) vision, ChannelEDGE(TM). ChannelEDGE is a Java-based solution that captures telephony, fax, e-mail, imaging, Internet (including chat), and other user-defined channels and interactions emanating from outside the company and intelligently distributes them to the appropriate employee through an evaluation of skill sets and security profiles.
Built on IMA's Internet Component Architecture (iCA), ChannelEDGE integrates current front- and back-office system applications, providing businesses with a single tool for managing all interactions between any source to any employee. ChannelEDGE is the interaction highway within the enterprise; it acts like an ''off ramp'' to the digital-based demands generated from outside the company. It enables enterprises with the ability to track and manage these interactions by utilizing technology to empower both employees and customers. ChannelEDGE is the industry's only true, object-oriented Java channel management offering.
''ChannelEDGE offers a real and open solution to a business problem facing all executives - how to manage the communication effectively between your enterprise and your customers,'' said Al Subbloie, IMA President & CEO.'' The core of Demand Chain Management is placing the customer at the center of the business process. Today that means being able to manage the myriad of communication channels that customers use. ChannelEDGE gives companies the ability to respond quickly and cohesively to their customers no matter what medium they utilize, from phone calls to e-mails, faxes to the Web.''
Built on the industry's only DCM Java-based, e-business application architecture, ChannelEDGE can run on any Java-based platform. Because of its future-proof standards, ChannelEDGE has avoided the problems of current proprietary channel management offerings, using a rules engine that can support all business functions regardless of channel. The use of IMA's iCA framework also facilitates the quick integration of a business' current Call Center applications with ChannelEDGE, regardless of the vendor.
Since its inception in 1984, IMA has assisted organizations around the globe in growing their businesses through the process of acquiring and retaining customers. In response to the rapid e-commerce evolution, IMA developed its concept of Demand Chain Management which focuses on creating demand via the Web from new sources such as enterprise web sites, third party aggregated web sites, e-mail, and chat. It extends this demand generation capability by managing demand via ChannelEDGE, and responding to demand via its EDGE products or integrating with other CRM applications. DCM takes the core values of Customer Relationship Management (CRM) strategies to a new level by applying new e-commerce technologies that are rapidly overtaking today's business world. DCM looks at the bigger picture - beyond traditional CRM response - and addresses how demand and delivery channels are changing as technology redefines the relationship between the supplier and the customer.
''We live in a demand-oriented generation, where product and service demands are delivered over multiple channels, many of which are digital,'' Subbloie said. ''These digital channels, like the Internet, are forcing business to present a consistent representation of the customer's demand in digital form. This has resulted in the need for an enterprise-wide, demand-centric architecture to manage and respond to this demand. That is what we are offering with our DCM and ChannelEDGE solution, a way for businesses to interact with customers over any number of channels in a one-on-one manner.''
About IMA
IMA provides world-class customer interaction software solutions and services that enable business success in the form of lasting, rewarding and profitable customer relationships. Gartner Group ranks IMA as a leader in customer service and support systems and as a visionary in sales applications. Over 400 global organizations including Bose Corp., Humana, ICT Group, Lloyds TSB, TXU, U.S. Cellular Corp. and Xerox depend on IMA products and services to help grow their business through the process of acquiring and retaining customers. IMA has headquarters in Shelton, Connecticut and offices and representatives worldwide. Contact IMA at imaedge.com, or request information via e-mail at info@imaedge.com, or by calling1-800-776-0462.
NOTE:
IMA and EDGE are registered trademarks of Information Management Associates, Inc. ChannelEDGE is a trademark of Information Management Associates, Inc. All other trade names are trademarks of their respective companies.
Except for the historical information contained in this announcement, the matters discussed in this announcement are ''forward-looking statements'' (as that term is used in the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties detailed from time to time in the Company's filings with the Securities and Exchange Commission (the SEC). In particular, IMA draws the reader's attention to the ''Risk Factors'' stated in the Company's Registration Statement on Form S-1 dated July 30, 1997 and its accompanying Prospectus, the Company's Quarterly Reports on Form 10-Q dated August 14, 1997, November 14, 1997, May 15, 1998, August 14, 1998, November 14, 1998, May 17, 1999 and August 16, 1999, the Company's Annual Report on Form 10-K dated March 30, 1998 and March 31, 1999, as well as to the Company's periodic and current reports as they are filed with the SEC. |
| | Information Management Associates - (IMAA) | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last Read |
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| To: Evan Dimmer who wrote () | 10/29/1999 9:17:00 AM | | From: TFF | | | |
IMA Announces CTEDGE-TM-, the Industry's First Object-oriented, Component-based CTI Middleware Solution
BusinessWire, Friday, October 29, 1999 at 08:47
SHELTON, Conn.--(BUSINESS WIRE)--October 29, 1999--
Java-Based CTEDGE-TM- Operates Within IMA's Revolutionary
Internet Component Architecture
IMA (NASDAQ:IMAA), a leading global provider of synchronized,
multi-channel e-business solutions, today unveiled CTEDGE-TM-, its
second in a series of planned business object components that are part
of IMA's new technology platform, the Internet Component Architecture
(iCA). CTEDGE is the industry's first true Java-based CTI platform for
managing voice channels that can be seamlessly integrated with
comprehensive multi-channel management technologies to support any
number of communication channels within the enterprise.
CTEDGE, which will be available by the end of 1999, is a
component-based product that manages all voice channels in the
enterprise. Through a consistent process, CTEDGE normalizes all demand
requests over each voice channel, allowing the enterprise to apply
flexible business rules and workflow to each request in a fully
distributed manner. CTEDGE, like IMA's recently announced
ChannelEDGE-TM-, utilizes a powerful rules engine which is supported
by the iCA. ChannelEDGE, the first product built on the new
component-based iCA, provides multi-channel synchronization across all
channels of communication for the enterprise.
"IMA has seized the technology leadership position in both the
multi-channel and CTI middleware markets with the introduction of
these two business components built on our powerful iCA architecture.
IMA offers the most robust capabilities, features the highest degree
of openness and scalability available today, and spans the largest
number of channels, all on the industry's only true Java
architecture," said Al Subbloie, President and CEO of IMA. "While
other vendors strive to merely offer the span of channels across voice
and the Web, IMA delivers these capabilities on the industry's most
powerful Object-Oriented architecture. Our offerings facilitate the
implementation of full Demand Chain Management (DCM), enable all
interactions within the enterprise, and provide a complete development
environment for the integration and development of CRM and eCRM
applications by solutions integrators or enterprises themselves."
CTEDGE provides a universal view of all voice demand requests to
the desktop in an inbox paradigm, and can be fully integrated into
IMA's call center product suite, EDGE, as well as other leading CRM
and eCRM applications. With iCA's open architecture, full blending is
easily handled, both for the agent and administrator.
CTEDGE combines IMA's new iCA architecture with its vast
experience of CTI middleware implementations worldwide. IMA's CTI
products are among the most widely installed solutions being used
today, spanning a wide range of industries. IMA's products are
installed in some of the largest high-volume call centers in the
world, and have proven their scalability and ease of integration in
multiple technology environments. By combining CTEDGE and ChannelEDGE,
IMA's CTI offerings provide complete "cradle to grave" reporting
across all communication channels in an enterprise.
Unlike most other CRM, eCRM, and CTI products on the market,
CTEDGE is based on open industry standards. The use of the iCA's
business rules makes CTEDGE extremely scalable and layered so that it
can be easily integrated with all extended third-party CRM and eCRM
components. The iCA rules engine also eliminates the problem inherent
with proprietary rules which compel enterprise or systems integrators
to integrate incompatible business rules within a multi-vendor system.
This initial release of CTEDGE supports Lucent, Aspect, Rockwell,
and NEC switches, with plans to immediately support Nortel and
Siemens. Support for Periphonics VRU's will be expanded to include
Edify, Intervoice, IBM's Direct Talk, and Lucent's Conversant voice
response units. CTEDGE also provides an open-interface Telephony
Software Developer's Kit (TSDK) to support most other switches with
minor integration efforts. CTEDGE can also be seamlessly integrated
with IBM's Callpath and Genesys Tserver products.
"Every vendor is talking about handling many channels through
applications, but very few true channel management technologies are
actually available on the market," Subbloie said. "Placing an
application behind multiple channels for agent response support does
not measure up to IMA's approach of providing middleware for full
channel access, routing, consistent normalization, and full blending
at the server and desktop levels."
About The iCA
iCA is the industry's "first and only" open object-oriented (OO)
Java-centric component software architecture specifically designed to
support CRM, eCRM and CTI application development. This true OO
component architecture offers n-tiered scalability and promotes
best-of-breed solutions through re-useable e-business components such
as a robust open-rules engine, personalization services, interactive
web development, content development, self-service, and legacy
integration. Developed over the past two years, iCA fully supports
IMA's vision of Demand Chain Management, by "DCM enabling" all
existing IMA EDGE desktop and CTI products, as well as most other
industry leading solutions in the CRM and eCRM market.
About IMA
IMA provides world-class customer interaction software solutions
and services that enable business success in the form of lasting,
rewarding and profitable customer relationships. Gartner Group ranks
IMA as a leader in customer service and support systems and as a
visionary in sales applications. Over 400 global organizations
including Bose Corp., Humana, ICT Group, Lloyds TSB, TXU, U.S.
Cellular Corp. and Xerox depend on IMA products and services to help
grow their business through the process of acquiring and retaining
customers. IMA has headquarters in Shelton, Connecticut and offices
and representatives worldwide. Contact IMA at imaedge.com,
or request information via e-mail at info@imaedge.com, or by calling
1-800-776-0462.
NOTE: IMA and EDGE are registered trademarks of Information
Management Associates, Inc. ChannelEDGE and CTEDGE are trademarks of
Information Management Associates, Inc. All other trade names are
trademarks of their respective companies.
Except for the historical information contained in this
announcement, the matters discussed in this announcement are
"forward-looking statements" (as that term is used in the Private
Securities Litigation Reform Act of 1995) that involve risks and
uncertainties detailed from time to time in the Company's filings with
the Securities and Exchange Commission (the SEC). In particular, IMA
draws the reader's attention to the "Risk Factors" stated in the
Company's Registration Statement on Form S-1 dated July 30, 1997 and
its accompanying Prospectus, the Company's Quarterly Reports on Form
10-Q dated August 14, 1997, November 14, 1997, May 15, 1998, August
14, 1998, November 14, 1998, May 17, 1999 and August 16, 1999, the
Company's Annual Report on Form 10-K dated March 30, 1998 and March
31, 1999, as well as to the Company's periodic and current reports as
they are filed with the SEC. |
| | Information Management Associates - (IMAA) | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last Read |
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| To: Evan Dimmer who wrote () | 11/5/1999 10:00:00 AM | | From: TFF | | | |
IMA Enhances Partner Program to Deliver Comprehensive Customer Interaction Solutions
BusinessWire, Friday, November 05, 1999 at 08:48
SHELTON, CT--(BUSINESS WIRE)--Nov. 5, 1999--
Focusing On Software Companies And System Integrators, IMA
Extends Its Internet Component Architecture (iCA) To Consolidate
Best-Of-Breed eCRM Business Applications
IMA (NASDAQ:IMAA), a leading global provider of synchronized,
multi-channel e-business solutions, today announced LeverEDGE?, its
enhanced, comprehensive alliance partnership program designed to
provide partners around the world with the strategic programs and
technical support necessary to deliver best-of-breed solutions for
customer interaction centers. The program is part of a global Business
Development initiative, which is managed by Joe LeMay. In his new role
as Vice President of Business Development, LeMay is responsible for
creating strategic relationships with technology partners to deliver
end-to-end eCRM solutions via IMA's application framework (iCA). As a
"functionality consolidator," IMA will deliver a comprehensive, fully
integrated eCRM application suite to businesses looking to implement a
customer-centric solution in their multi-channel interaction centers.
IMA's LeverEDGE program is comprised of three main categories:
- LeverEDGE SI -- for system integrators delivering customer facing
functionality;
- LeverEDGE Sales -- for companies who resell IMA products; and
- LeverEDGE Alliance
- CRM - targets companies developing traditional CRM
functionality;
- eCRM -- for partners developing emerging eCRM
functionality;
- Development - targets development partners contributing
to the development of IMA's products.
"The fragmentation of eCRM point solutions forces companies to
implement silos of communication conduits, such as e-mail, voice, chat
and collaboration," said Al Subbloie, President and CEO of IMA. "This
leads to duplication of effort when defining business rules for
interaction processing. By consolidating best-of-breed solutions from
our business partners using our application framework, the iCA, we
deliver integrated Demand Chain Management offerings which eliminate
this problem."
"LeverEDGE partners can use our iCA framework to build or
integrate any business components which support CRM, eCRM and CTI
functions," said LeMay. "Since the iCA is an open architecture built
specifically to support these functions, solutions can be quickly
delivered to the customer."
Mr. LeMay has over 11 years of experience working in the customer
interaction field and has held management roles in Sales and
Professional Services at IMA. Prior to IMA, he worked for Andersen
Consulting for seven years.
LeverEDGE is designed to provide partners with sales and
technical support, education and product certification, market
awareness programs, marketing support and IMA collateral material. For
more information on becoming a LeverEDGE partner, call 1-800-776-0462,
visit our Web site at www.imaedge.com or request information via
e-mail at leveredge@imaedge.com.
About IMA
IMA provides world-class customer interaction software solutions
and services that enable business success in the form of lasting,
rewarding and profitable customer relationships. Gartner Group ranks
IMA as a leader in customer service and support systems and as a
visionary in sales applications. Over 400 global organizations
including Bose Corp., Humana, ICT Group, Lloyds TSB, TXU, U.S.
Cellular Corp. and Xerox depend on IMA products and services to help
grow their business through the process of acquiring and retaining
customers. IMA has headquarters in Shelton, Connecticut and offices
and representatives worldwide. Contact IMA at imaedge.com,
or request information via e-mail at info@imaedge.com, or by calling
1-800-776-0462.
NOTE: IMA and EDGE are registered trademarks of Information
Management Associates, Inc. LeverEDGE is a trademark of Information
Management Associates, Inc. All other trade names are trademarks of
their respective companies.
|
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| To: Evan Dimmer who wrote () | 11/18/1999 5:52:00 PM | | From: TFF | | | |
IMA Announces Third Quarter Results and Adjusts Second Quarter Results; Company's Results Impacted by Shift From Voice-Only To New Internet-Centric Solutions
Business Wire - November 18, 1999 16:44
SHELTON, Conn--(BUSINESS WIRE)--Nov. 18, 1999--Information Management Associates, Inc. (NASDAQ:IMAA), a leading global provider of synchronized, multi-channel e-business solutions, today announced results for the third quarter and nine months ended Sept. 30, 1999 and restated results for the second quarter ended June 30, 1999.
Revenues for the third quarter ended Sept. 30, 1999 were $8.0 million compared to $15.8 million for the third quarter ended Sept. 30, 1998 reflecting a down turn in product demand in the voice-only Call Center industry.
IMA reported a net loss for the third quarter of $6.3 million, or $.65 per share compared to a net loss of $1.9 million, or $.20 per share a year ago. The net loss for the third quarter was primarily the result of lower revenues, costs associated with the launch of IMA's majority-owned Internet subsidiary buyingedge.com, and costs associated with the development of the company's recently announced Internet-focused product line that is scheduled for release late in the fourth quarter.
Revenues for the nine-month period ended Sept. 30, 1999 were $30.2 million (restated) compared to $39.0 million for the nine-month period ended Sept. 30, 1998. IMA reported a net loss for the nine months ended Sept. 30, 1999 of $15.9 million, or $1.64 per share compared to a net loss of $8.3 million or $.87 per share for the same period a year ago.
The Company also announced restated results for its second quarter ended June 30, 1999. IMA's originally reported results for the second quarter of 1999 reflected revenues of $13.1 million, and a net loss of $1.8 million, or $.19 per share. IMA's restated results for the second quarter of 1999 reflect revenues of $9.9 million and a net loss of $6.3 million or $.65 per share. The change from the original reported net loss of $4.5 million reflects:
-- A license fee revenue reduction of $3.3 million and associated
sales and marketing expense reduction of $135,000 in connection
with an enterprise wide software license ordered by a reseller.
Based on a further review of the circumstances surrounding the
transaction, the Company changed its accounting for this
transaction from revenue recognition based upon delivery of the
software to revenue recognition based upon the assurance of
collectibility.
-- One-time charges of $581,000 relating to the formation of IMA's
majority-owned Internet subsidiary, buyingedge.com and the
issuance of the subsidiary's common stock to its minority
shareholder in the second quarter.
-- The capitalization of website development costs in accordance
with SOP 98-1, Accounting for Costs of Computer Software
Developed or Obtained for Internal use, in the amount of
$156,000, net of amortization. The Company should have
capitalized the website development costs incurred in the quarter
ended June 30, 1999.
-- An increase in the provision for bad debts of $920,000. In
connection with the third quarter review of the reserve for
doubtful accounts, the Company determined that a portion of the
identified additional reserves were more appropriately reflected
in the second quarter.
The Company has also received and responded to a comment letter related to the Company's Form 10-Q for the quarter ended June 30, 1999 from the Securities and Exchange Commission regarding, among other things, the Company's accounts receivable balances, the collectibility of such balances and the Company's revenue recognition policies in light of such balances. Although the Company believes that its accounting for accounts receivable and its revenue recognition policy is proper, as restated, a different conclusion would require further restatement of the Company's previously reported results.
The Company's net loss for the three and nine months ended Sept. 30, 1999 includes, respectively $1.3 million and $3.2 million of expenses relating to buyingedge.com. In connection with its plan to capture further marketshare, buyingedge.com intends to raise an additional $30-40 million in capital financing in the first quarter of 2000.
Al Subbloie, IMA's President and CEO said, "IMA is disappointed with the current results and specifically with the downturn in revenue from the Company's core business. However, we are excited about the planned introduction of our new Internet-centric suite of products that is expected to be available late in the fourth quarter. IMA's new products will enable businesses to create, manage and respond to demand in a highly effective manner by adding new e-commerce technologies to the core values of Customer Relationship Management (CRM)." In addition, Subbloie stated: "IMA is very excited about the progress and prospects of its majority-owned subsidiary, buyingedge.com, in the Internet reverse auction marketplace."
About IMA
IMA provides world-class synchronized, multi-channel e-business solutions that enable business success in the form of lasting, rewarding and profitable customer relationships. Gartner Group ranks IMA as a leader in customer service and support systems and as a visionary in sales applications. Over 400 global organizations including Bose Corp., Humana, ICT Group, Lloyds TSB, TXU, U.S. Cellular Corp. and Xerox depend on IMA products and services to help grow their business through the process of acquiring and retaining customers. IMA has headquarters in Shelton, Connecticut and offices and representatives worldwide. Contact IMA at imaedge.com, or request information via e-mail at info@imaedge.com, or by calling 1-800-776-0462.
NOTE: IMA is a registered trademarks of Information Management Associates, Inc. All other trade names are trademarks of their respective companies.
Except for the historical information contained in this announcement, the matters discussed in this announcement are "forward-looking statements" (as that term is used in the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties detailed from time to time in the Company's filings with the Securities and Exchange Commission (the SEC). In particular, IMA draws the reader's attention to the "Risk Factors" stated in the Company's Registration Statement on Form S-1 dated July 30, 1997 and its accompanying Prospectus, the Company's Quarterly Reports on Form 10-Q dated August 14, 1997, November 14, 1997, May 15, 1998, August 14, 1998, November 14, 1998, May 17, 1999 and August 16, 1999, the Company's Annual Report on Form 10-K dated March 30, 1998 and March 31, 1999, as well as to the Company's periodic and current reports as they are filed with the SEC.
INFORMATION MANAGEMENT ASSOCIATES, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
(In thousands, except per share amounts)
Three Months Ended Nine Months Ended
September 30, September 30,
1999 1998 1999 1998
(unaudited) (unaudited) (unaudited)(unaudited)
Revenues:
License fees $ 2,440 $ 8,706 $ 10,861 $ 21,429
Services and
maintenance 5,608 7,098 19,340 17,615
Total revenues 8,048 15,804 30,201 39,044
Cost of revenues 3,274 4,408 12,587 10,998
Gross profit 4,774 11,396 17,614 28,046
Operating expenses:
Sales and marketing 4,802 5,807 16,039 14,479
Product development 2,677 2,167 9,077 5,879
General and
administrative 2,523 1,400 5,571 3,821
Provision for doubtful
accounts 887 1,816 2,617 2,778
Acquired product
development costs -- -- -- 7,658
One time settlement
charges -- 2,163 -- 2,163
Total operating
expenses 10,889 13,353 33,304 36,778
Operating loss (6,115) (1,957) (15,690) (8,732)
Other income (expense) (401) 179 (336) 716
Loss before provision
for income taxes
and minority interest (6,516) (1,778) (16,026) (8,016)
Provision for income
taxes 48 119 228 273
Loss before minority
interest (6,564) (1,897) (16,254) (8,289)
Minority interest (292) -- (328) --
Net loss $(6,272) $ (1,897) $ (15,926) $ (8,289)
Basic and diluted net
loss per share $ (.65) $ (0.20) $ (1.64) $ (0.87)
Shares used in computing
basic and diluted
net loss per share 9,670 9,676 9,698 9,558
Pro forma net loss:
Net loss for
buyingedge.com(a) (1,310) -- (3,206) --
Pro forma net loss
excluding
buyingedge.com(a) $(4,962) $ (1,897) $ (12,720) $ (8,289)
(a) Net loss for buyingedge.com includes expenses associated with the
pre-incorporation activities incurred by IMA and the post
incorporation buyingedge.com results, net of related minority
interest.
INFORMATION MANAGEMENT ASSOCIATES, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except share amounts)
September 30, December 31,
1999 1998
(unaudited)
ASSETS
Current assets:
Cash and short term investments $ 3,932 $ 11,649
Restricted cash 8,934 -
Accounts receivable, net 11,700 16,487
Other current assets 3,434 1,985
Total current assets 28,000 30,121
Equipment, net 4,341 3,134
Other assets, net 4,025 3,983
TOTAL ASSETS $ 36,366 $ 37,238
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Convertible promissory note $ 3,985 $ -
Current maturities of capital
lease obligations 391 73
Accounts payable and
accrued liabilities 10,145 11,412
Deferred revenues 4,522 4,341
Total current liabilities 19,043 15,826
Other long-term liabilities 941 490
Minority interest 8,131 -
Shareholders' equity:
Common stock, no par value;
9,746,855 and 9,697,088 shares
outstanding at September 30,
1999 and December 31, 1998 58,507 54,691
Share to be issued in connection
with acquisition - 564
Cumulative translation adjustment (60) (63)
Accumulated deficit (50,196) (34,270)
Total shareholders' equity 8,251 20,922
TOTAL LIABILITIES AND
SHAREHOLDERS' EQUITY $ 36,366 $ 37,238
CONTACT: IMA
John A. Piontkowski
Chief Financial Officer
212-725-4500
john.piontkowski@imaedge.com
or
G.S. Schwartz & Co.
David King (media contact)
203-925-6805
dking@schwartz.com |
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