Press Releases
Visual Mining Announces Financial Results for the First Quarter of 2004
Rockville, Maryland - April 22, 2004 - Visual Mining, Inc., a leading developer of reporting and data visualization solutions, today announced financial results for the first quarter of 2004, reporting revenue growth of 43 percent over the same three-month period last year, along with a tenfold increase in operating income, and reporting another successive quarter of positive cashflow. The first quarter results represent the thirteenth (13th) consecutive profitable quarter for privately held Visual Mining.
Visual Mining signed a significant number of marquee clients this quarter for the Company's NetCharts® products, including FedEx Corporation, Eastman Kodak Company, Booz Allen Hamilton Inc., Electronic Data Systems Corporation (EDS), Northrop Grumman Corporation, Veridiem, Inc., Fogbreak Software, Ounce Labs, Medtronic, Inc., and Alphablox Corporation.
"Our first quarter results demonstrate consistent achievement of our financial objectives," said Tristan Ziegler, COO and President of Visual Mining, Inc. "What's particularly satisfying is that we realized a positive cashflow while considerably expanding our sales force and investing in infrastructure to better serve our rapidly growing customer base. We are consistently improving our leadership position in a large and underserved market, and we expect to see continued revenue growth over the next year as a result of our efforts."
Other financial and operating highlights for the quarter included:
- Launched NetCharts® Reporting Suite, the market's first truly application-independent, enterprise-scale visual reporting solution.
- Launched new versions of NetCharts® Server and NetCharts® applications with improved performance and feature sets.
- Launched the exclusive WYSIWYG report design tool, NetCharts® Designer.
- Significantly increased the breadth and scope of our sales team.
- CEO and Founder Michael MacDonald, featured on WallStreetReporter.com in executive interviews, was interviewed for article on Canadian Imperial Bank of Commerce (CIBC) for ITBusiness.ca web site, and the Company was featured in an article on data visualization by Investors Business Daily .
About Visual Mining, Inc:
Visual Mining builds interactive graphical reporting solutions for business and government organizations needing maximum software flexibility, high performance, and low cost. Visual Mining produced the first Java-powered charting engine in 1996. Since then, Visual Mining's NetCharts products have earned numerous industry awards, most recently, the 2003 Intelligent Enterprise Magazine's Readers' Choice Award for data visualization software. For more information, please visit www.visualmining.com .
Contact:
Lezlie Ramsey
Public Relations Manager
301.795.2217
lramsey@visualmining.com
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