Cognicase Reports Strong Revenue and E-Business Growth-Launches two Strategic Internet Business Units.
Business Wire › February 07, 2000
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Cognicase Reports Strong Revenue and E-Business Growth-Launches two Strategic Internet Business Units.
Business Editors
MONTREAL--(BUSINESS WIRE)--Feb. 7, 2000 E-business accounts for 15 % of first quarter revenues COGNICASE Inc. (NASDAQ:COGI)(TSE:COG.) today announced its results for the first quarter ended December 31, 1999. Revenues increased 17 % to US$44.2 million from US$37.9 in the fourth quarter of fiscal 1999 and 27 % compared to US$34.9 million in the first quarter of fiscal 1999. E-business revenues rose 56 % to US$6.6 million to account for 15 % of the Company's revenues for the first quarter of fiscal 2000. Investment in research and development for Internet and wireless software increased significantly during the quarter in support of the Company's e-business strategy. Net R& expenses were US$2.1 million, up 163 % compared to US$0.8 million (excluding a one time event related to investment tax credits of US$0.7 million) in the fourth quarter of fiscal 1999. The Company also incurred business development ...See the full content of this document
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