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Tribeworks Reports Record Revenues, First Profitable Quarter in its History
Year over Year Quarterly Revenue Up 199%
SAN FRANCISCO ‹ November 15, 2001 ‹ Tribeworks® (TRWX), creators of leading tools for building interactive, rich-media applications, today announced that it has achieved profitability for the first time in the Company's history.
For the quarter ended September 30, 2001, Tribeworks reported revenue increasing to a record level of $480,160, compared with $163,428 in the same period a year ago. Revenues reflect 95% growth sequentially over $249,914 in the second quarter of 2001. The Company generated net income of $56,849, compared to a net loss of $549,633, in the same period a year ago. Revenue for the nine months ended September 30, 2001 were $974,715, up 72% over $567,468 for the same period last year.
"We believe that Tribeworks stands out in today's marketplace. We are part of a small group of independent software companies to deliver a profitable quarter after three consecutive quarters of revenue growth. We believe that our ability to achieve profitability is a direct result of our unique business model and our commitment to growing our business in a regulated way," said Robert C. Davidorf, Chief Financial Officer of Tribeworks.
Tribeworks, Inc. (www.tribeworks.com) develops software for creating and delivering next-generation rich-media applications. Examples include advertising and marketing applications, interactive shopping applications, courseware, training materials, and corporate presentations. Applications are deployed via the Internet, electronic kiosks, electronic displays, and CD-ROMs. Tribeworks is headquartered in San Francisco with a wholly-owned subsidiary in Tokyo.
Contact for Tribeworks:
email: [email protected]
Contact for Investor Relations:
Ron de Jong
de Jong & Associates
Toll free: (877) 943-9065
email: [email protected]
Safe Harbor Statement: This press release contains statements that are, or may be deemed to be, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements, including but not limited to, the statements regarding future profitability, are not based on historical fact, but rather reflect the Company's current expectations concerning future events. By their nature, these forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of the Company to be different from those projected in any forward-looking statements. The following important factors, among others, may cause actual results or developments to differ materially from those expressed or implied by the forward-looking statements: competitive pressures, availability and cost competitiveness of supplies or competing products, market acceptance of iShell and other risks and uncertainties described in Tribeworks' reports to the Securities and Exchange Commission. The Company hereby disclaims any obligation to publicly update the information provided above, including forward-looking statements, to reflect subsequent events or circumstances.
Copyright © 2001 Tribeworks, Inc. All rights reserved. The faces logo, Tribeworks and iShell are trademarks or registered trademarks of Tribeworks, Inc. in the United States and other countries. All other trademarks are the property of their respective owners.