Infodata Reports 2000 Results

Apr 03, 2001, 01:00 ET from Infodata Systems Inc.

    FAIRFAX, Va., April 3 /PRNewswire/ -- Infodata (Nasdaq: INFD), an
 e-business and web-based content management company, today announced its
 results for the year ended December 31, 2000.  The company reported revenues
 of $13.0M and a net loss of $2.3M compared to revenues of $10.3M and net loss
 of $5.0M for the same period ended December 31, 1999.
     Revenues from its e-Business and knowledge management solutions practice
 increased 181% over 1999 levels to over $5.9 million in 2000.  However,
 substantial losses were incurred in the third and fourth quarters of 2000 when
 venture capital funding for many of the company's dot-com clients ceased or
 decreased significantly from the first half of the year.
     The company focused its e-Business and knowledge management expertise on
 established companies building a presence in these areas.  Many of these new
 accounts are well known names such as Pfizer Pharmaceuticals, Pharmacia
 Corporation, First Union Bank and Ford Motor Company.  Making this transition
 took time and resulted in large operating losses for the third and fourth
 quarters, and to a much lesser extent, the first quarter of 2001.
     Steve Samowich, CEO and President said, "Due to the sale of our equity
 stake in Buckaroo.com, Inc. in February 2001, the company will be profitable
 in the first quarter.  With our strong pipelines in the e-Business and
 knowledge management solutions and U.S. intelligence community practices, I
 expect to report profits from operations each subsequent quarter this year."
     "I anticipate our e-Business and knowledge management business revenues to
 grow roughly 50% in 2001 over 2000 and revenues for our U.S. Intelligence
 community practice, which increased 43% last year, to increase in excess of
 90% this year as a result of a substantial strategic contract awarded to the
 Company in 2000 as well as our increasing penetration into the information
 warfare business area."
 
     About Infodata:
     Infodata (Nasdaq: INFD), headquartered in the heart of the high-technology
 corridor of Fairfax, Virginia, provides innovative solutions for managing
 information assets and accelerating global e-business.  Coupling its 33 years
 of experience in knowledge management with web-enabled content management,
 Infodata offers an array of solutions including web-based KM system
 integration, content management analysis and implementation for Documentum and
 Plumtree solutions, web-site design, system architecture, application
 development with turnkey implementation, complex e-Business web
 infrastructures, and consulting services surrounding the implementation of the
 Company's proprietary products.  Infodata's customers are Fortune 1000
 corporations, government agencies, and e-business ventures.  For more
 information, contact Infodata at 800-934-5205 or visit the Company's web site
 at http://www.infodata.com .
 
     Note:
     Forward-looking statements contained in this press release relating to
 revenue growth and profitability are based on current expectations that
 involve uncertainties and risks associated with new service offerings
 including, but not limited to, market conditions, successful service offering
 introduction and acceptance, competition, economic conditions, and the timing
 of contract initiation.  The company's actual results may differ materially
 from current expectations.  Readers are cautioned not to put undue reliance on
 forward-looking statements. The company disclaims any intent or obligation to
 update publicly these forward-looking statements, whether as a result of new
 information, future events or otherwise.
 
 

SOURCE Infodata Systems Inc.
    FAIRFAX, Va., April 3 /PRNewswire/ -- Infodata (Nasdaq: INFD), an
 e-business and web-based content management company, today announced its
 results for the year ended December 31, 2000.  The company reported revenues
 of $13.0M and a net loss of $2.3M compared to revenues of $10.3M and net loss
 of $5.0M for the same period ended December 31, 1999.
     Revenues from its e-Business and knowledge management solutions practice
 increased 181% over 1999 levels to over $5.9 million in 2000.  However,
 substantial losses were incurred in the third and fourth quarters of 2000 when
 venture capital funding for many of the company's dot-com clients ceased or
 decreased significantly from the first half of the year.
     The company focused its e-Business and knowledge management expertise on
 established companies building a presence in these areas.  Many of these new
 accounts are well known names such as Pfizer Pharmaceuticals, Pharmacia
 Corporation, First Union Bank and Ford Motor Company.  Making this transition
 took time and resulted in large operating losses for the third and fourth
 quarters, and to a much lesser extent, the first quarter of 2001.
     Steve Samowich, CEO and President said, "Due to the sale of our equity
 stake in Buckaroo.com, Inc. in February 2001, the company will be profitable
 in the first quarter.  With our strong pipelines in the e-Business and
 knowledge management solutions and U.S. intelligence community practices, I
 expect to report profits from operations each subsequent quarter this year."
     "I anticipate our e-Business and knowledge management business revenues to
 grow roughly 50% in 2001 over 2000 and revenues for our U.S. Intelligence
 community practice, which increased 43% last year, to increase in excess of
 90% this year as a result of a substantial strategic contract awarded to the
 Company in 2000 as well as our increasing penetration into the information
 warfare business area."
 
     About Infodata:
     Infodata (Nasdaq: INFD), headquartered in the heart of the high-technology
 corridor of Fairfax, Virginia, provides innovative solutions for managing
 information assets and accelerating global e-business.  Coupling its 33 years
 of experience in knowledge management with web-enabled content management,
 Infodata offers an array of solutions including web-based KM system
 integration, content management analysis and implementation for Documentum and
 Plumtree solutions, web-site design, system architecture, application
 development with turnkey implementation, complex e-Business web
 infrastructures, and consulting services surrounding the implementation of the
 Company's proprietary products.  Infodata's customers are Fortune 1000
 corporations, government agencies, and e-business ventures.  For more
 information, contact Infodata at 800-934-5205 or visit the Company's web site
 at http://www.infodata.com .
 
     Note:
     Forward-looking statements contained in this press release relating to
 revenue growth and profitability are based on current expectations that
 involve uncertainties and risks associated with new service offerings
 including, but not limited to, market conditions, successful service offering
 introduction and acceptance, competition, economic conditions, and the timing
 of contract initiation.  The company's actual results may differ materially
 from current expectations.  Readers are cautioned not to put undue reliance on
 forward-looking statements. The company disclaims any intent or obligation to
 update publicly these forward-looking statements, whether as a result of new
 information, future events or otherwise.
 
 SOURCE  Infodata Systems Inc.