Momentum Players

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STTC NEWS FROM YESTERDAY...CORRECTING and REPLACING -- Pre Earnings Release -- SoftNet Technology Increases Revenue by More Than 38 Percent in 2nd Quarter 2006
Monday July 31, 5:51 pm ET


CRANFORD, N.J., July 31, 2006 (PRIMEZONE) -- In a release issued earlier today, the portion of the headline which read 3rd Quarter 2006 should have read 2nd Quarter 2006. The full release follows.
SoftNet Technology Corp. (OTC BB:STTC.OB - News) (German WKN No.: A0B7RZ) is pleased to announce that they have expanded total revenue by more than 38%. Preliminary numbers show revenue jumping from approximately $1,093,523 to $1,518,904. A more detailed explanation of the quarterly results will be released when the Company's financial statements are filed with the SEC.


Growth continues in all areas of the Company. Expansion to the Northwest as well as internationally continues. The number of Information Technology Professionals and in-house employees since the beginning of this year has increased from approximately 26 to over 75. Additional expansion is expected both organically and through strategic acquisitions.

SoftNet has been able to build relationships with such companies as: T-Mobile, Network Appliance, Eclipsis Corporation and CompUSA. The Company maintains offices in the Northeast, Southeast, South and the Northwest regions of the United States.

``It's hard to believe, but we actually eliminated most long term debt and increased sales at the same time,' said Mr. James M. Farinella, CEO of SoftNet Technology. ``Also, we not only extended the first quarter growth into the second quarter, but actually increased the rate of growth. I do not know the percentage of growth that we will experience in the 3rd quarter, but I will say that it again will be phenomenal.'

Please visit our website at http://www.softnettechnology.com for more information or for Investor Relations, please contact the company directly at 866-898-4842 (local 908-204-9911) James M. Farinella, CEO.