NeoMedia Technologies, Inc (NEOM)

[AlfonszyD]

Streets: Most of us weren't around back then I'm guessing, the link in your post also had a related article that reminds us of where we are today as compared to the past promise of a bright future

FORT MYERS, Fla.--(BUSINESS WIRE)--March 18, 1999--NeoMedia Technologies, Inc. (Nasdaq:NEOM) announced today its financial results for the fourth quarter and the year ended December 31, 1998. The company also announced record revenue of $ 8.1 million for the fourth quarter.

"With the allowance of our first IDOCs patent and the acquisition of a body of domestic and international patent filings from Solar Communications, we continue to establish our company as the leading `gatekeeper' for linking print media to the internet", stated Chas Fritz, President and CEO.

"Other products, including our Integrated Document FactoryTM (IDF) and our desktop Year 2000 PC products are experiencing excellent revenue growth. We are pleased with our record revenue in the fourth quarter and look forward to continued profit improvement and a very successful 1999," said Fritz.

Net sales for the fourth quarter ended December 31, 1998 of $8.1 million increased 1.3% over the $8.0 million for the same quarter of 1997. The Company reported a net loss of $2.1 million or $(0.24) per share for the three month period ended December 31, an improvement of $0.21 per share over the third quarter loss. This loss is compared with a net loss of $1.4 million, or $(0.20) per share for the same period of 1997. There were 8,695,906 and 7,121,074 weighted average number of common shares outstanding for the 1998 and 1997 three month periods, respectively.

For the year ended December 31, 1998, NeoMedia had revenues of $23.5 million, down 3.7 percent from $24.4 million for 1997. Gross margin improved 4.5 percent to $4.6 million in 1998 from $4.4 million in 1997. Net loss for the year was $11.2 million, or $(1.31) per share, compared with a net loss of $6.0 million , or $(0.90) per share, reported for 1997. There were 8,560,849 and 6,615,107 weighted average number of common shares outstanding for 1998 and 1997, respectively.

NeoMedia was founded in 1989. Its common stock trades on the NASDAQ Small Cap Market under the symbol NEOM. NeoMedia provides proprietary software for document management and production systems, the migration of programs and databases from closed system to open system platforms including Year 2000 conversions and solutions, and unique Internet software that links physical objects, such as paper, to corresponding electronic information: Linking the Worlds of Print and Electronic MediaSM. Additional information is available on the Internet at www.neom.com.