Press Releases
Visual Mining Announces Third Quarter Results for 2004
Rockville, Maryland - October 10, 2004 - Visual Mining, Inc., a leading developer of reporting and data visualization solutions, today announced financial results for its fiscal 2004 third quarter ended September 30, 2004. For the quarter, the Company reported revenue growth in excess of fifty percent (50%)over the same three-month period last year, double digit sequential quarterly growth, a more than doubling of net earnings before taxes (EBT), and another quarter of significant net positive cashflow. The third quarter results represent the fifteenth (15th) consecutive profitable quarter for privately-held Visual Mining.
Among the more prominent new clients for the Company’s NetCharts® products this quarter are Dresdner Bank, Siemens Financial Services, CorrectNet, eHarmony.com, Wellpoint Health Networks, Intermountain Health Care, Cable & Wireless, Cox Communications, Misys Hospital Systems, Micromuse, Inc. and Newview Technologies, Inc.
"We are very pleased with our ability to deliver consecutive positive quarterly results, which evidences the fact that we deliver scalable solutions with broad market acceptance, all at a significant value to our clients,” said Tristan Ziegler, COO and President of Visual Mining, Inc. "While Visual Mining continues its expansion on both the sales and engineering fronts started earlier this year, we expect to see continued revenue growth and positive financial results as the market’s awareness and acceptance of our products increase."
Other highlights for the quarter include:
- Both bookings and revenue increased by fifty percent or more compared to the same three-month period last year.
- Added or renewed relationships with approximately 100 customers.
- Released the third software update this year for both the NetCharts Server and NetCharts Designer products, expediting our customers’ access to our newest features.
- Continued to increase staffing in the areas of sales, engineering and support to better serve our clients.
- Completed the annual Financial Statement audit with a seventh consecutive clean Unqualified Opinion, with no audit adjustments in the past four years, attesting to the importance and effectiveness of the internal controls in place.
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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