Javelin Systems, Inc. Reports Record Second Quarter and Six Month Revenues (Business Wire; 01/21/99) IRVINE, CALIF. (Jan. 21) BUSINESS WIRE -Jan. 21, 1999--Javelin Systems, Inc. (Nasdaq/NMS:JVLN), a developer of open system touchscreen point-of-sale (POS) computers and provider of POS end-to-end system solutions, today announced record revenues for its fiscal 1999 second quarter and six months ended December 31, 1998. Revenues for the second quarter of fiscal 1999 were $17.9 million, up 301 percent from last year's second quarter revenues of $4.5 million. Net income for the second quarter of fiscal 1999 was $574,000, or earnings per share of $0.11, compared to net income of $92,600, or earnings per share of $0.03, for the comparable period in fiscal 1998. Javelin posted revenues of $30.8 million for the first six months of fiscal 1999, a 316 percent increase over the comparable revenues of $7.4 million for the first six months of fiscal 1998 . Net income for the first six months of fiscal 1999 was $1.0 million, or earnings per share of $0.22, versus net income for the comparable period of $114,000, or earnings per share of $0.03. "The revenue growth for the quarter and the six months is an indication of a core market that continues to demand innovative open system POS computers," commented Javelin Systems president and CEO Richard P. Stack. "In addition to the growth we enjoy in our core markets, during the second quarter we entered the convenience store sector of the retail industry with a contract with White Hen Pantry, generating an increase in service revenues, and received significant contributions in revenues and profits from our European subsidiaries, including RGB and Jade, our recent acquisitions," added Stack. About Javelin Systems, Inc. Javelin Systems, Inc. designs, manufactures and markets open system touchscreen point-of-sale ("POS") computers and provides POS systems integration services primarily for the foodservice and retail industries. POS systems incorporating the Company's products enable restaurants and retailers to capture, analyze, disseminate and use information throughout an enterprise from the point of sale to the in-store "back office" to the enterprise's headquarters. These POS systems provide transaction processing, in-store operating controls, and timely information used to manage inventory and costs, analyze sales data and customize products and services. The Company's product family of network-ready computers integrates substantially all of the functionality of standard desktop personal computers into durable, small footprint touchscreen workstations that run on industry standard open operating systems. Visit Javelin at www.jvln.com. The statements in this press release that relate to future financial results, future plans by the Company, customer contracts or financial performance by the Company are forward-looking statements that involve risks and uncertainties pertaining to customer orders, demand for products and services, development of markets for the Company's products and services and other risks identified in the Company's SEC filings. The Company's actual results and performance may differ materially; therefore, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.