STTC News Research SoftNet Pre-Earnings Announcement - 2nd Quarter Revenue More Than Doubles 1st Quarter Revenue
SoftNet Pre-Earnings Announcement - 2nd Quarter Revenue More Than Doubles 1st Quarter Revenue
SoftNet Technology (OTCBB Symbol:STTC) (German WKN#: A0B7RZ) today provides a preview look at the 2nd Quarter numbers to be released, in late July/early August. Sales for the second quarter of 2005 jumped an estimated 1,000% from the comparable second quarter of 2004. For the fiscal year 2005, second quarter revenue has more than doubled first quarter revenue.
Projected revenue, in the second quarter, came in better than $500,000 compared to about $45,000 for the second quarter of 2004 and $230,000 for the first quarter 2005. These revenue increases have also come at a time when sales typically slow down. SoftNet wholly owned subsidiary, Indigo Technology Services (Indigo), showed an increase in revenue from the first to second quarter of about 100% with sales jumping from about $80,000 to just over $160,000. STTC's wholly owned subsidiary, WholesaleByUs (WBU), also showed a jump in revenues of 100% or better from the first to second quarter 2005.
Sales in the month of June came in just as strong if not stronger than the combined totals for the first two months (April and May 2005) of the second quarter. In the past 12 months, SoftNet has increased revenues every single quarter. Organic growth coupled with the addition of potential acquisitions that should strengthen STTC's core business should facilitate continued accelerated growth well into the future.
The Company releases these numbers subject to verification by the auditors who are waiting on certain confirms and other items to complete the full 10Q report for the second quarter. Until the report is released, the numbers cannot be guaranteed. However, it is not expected that the numbers provided by the Company, in this release, will vary in any material way
Please visit our website at www.softnettechnology.com for more information or for Investor Relations, please contact Stephanie Soleas, Blue-Sky Solutions at (877) 4-BLUE-IR or sttc@blueskyir.com. You may also call the company directly at 866-898-4842 (local - 908-204-9911) James M. Farinella, CEO.
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made on behalf of the company. All such forward-looking statements are, by necessity, only estimates of future results and actual results achieved by SoftNet Technology Corp (STTC) may differ materially from these statement due to a number of factors. STTC assumes no obligations to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such statements. You should independently investigate and fully understand all risks before making investment decisions.
SoftNet Technology
James M. Farinella, CEO
866-898-4842
local - 908-204-9911
www.softnettechnology.com
or
Investor Relations
Blue-Sky Solutions
Stephanie Soleas
(877) 4-BLUE-IR
sttc@blueskyir.com
