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BIT Revenues Exceed $1.7 Million in Q3
September '99 Corporate Update
Q3 1999 was the most successful quarter to date for Bridges.com, bringing in revenues of $1,704,249 during that time period. This compares to $1,077,838 in Q3 1998. For the first nine months ending August 31, 1999, Bridges.com Inc. reported revenues of $3,804,442. This compares to $2,111,878 in the first nine months of 1998 and $3,014,145 in all of 1998. Earnings and EPS for Q3 will be presented in the Interim Report, which will be completed later this month. "Bridges is on track to achieve its revenue goals for 1999," said Doug Manning, CEO and President of Bridges.com. "Our selling team is having very good success, particularly in the United States. The marketplace is warming up to the purchase of Internet-based services. This is proving to be a benefit for our Company."
Recent Accomplishments and Developments
Bridges.com Signs West Virginia Regional Agreement Bridges.com will produce a regional version of CX Online for schools in West Virginia, beginning this fall. The state has also commissioned the company to provide a daily career news service. More than 50% of 330 secondary schools in the state currently use CX. Kathy Boone, Project Leader for the West Virginia Department of Education, said, "Given the rural nature of West Virginia, not all students have access to a wide range of career experiences. Bridges.com fills the gap by bringing the world of work to every school wherever it is located." Doug Turton, Bridges.com's regional sales manager for the state added, "West Virginia is establishing itself as a leader in the integration of online career information services into middle and secondary schools. We'll likely see increased usage of Career Explorer in West Virginia as a result of this initiative." 300 Sales in August, Summer Sales Increase 46% 616 new site sales were recorded in June, July and August of 1999, a 46 per cent improvement over last summer's record sales quarter of 420 sites. Resubscriptions were also strong in the quarter, with the balance of resubscription revenue to be recognized in Q4. Career Explorer is now used in 4,266 schools, representing 11.9 per cent of the North American middle and secondary school market. Innovative Pennsylvania Pilot Promotes CX Use The School-To-Work office in Pennsylvania will work with Bridges.com to promote use of Career Explorer (CX) in at least 400 of the state's 1,200 middle and secondary schools. The Pennsylvania S-T-W team will endorse CX and provide regional training for the 400 schools. In return, Bridges will provide free access for a limited time period to authorized schools. "We want more Pennsylvania schools to evaluate the service," said Mike Martin, Vice-President of Sales and Marketing for Bridges. "This initiative is a unique new opportunity for us to work with a state agency to support use of CX by increasing numbers of young career planners." Bridges Boosts Sales Staff In support of Bridges.com's plan to more aggressively distribute Career Explorer to North American middle and secondary schools, eight new sales staff have joined the company. This boosts the number of internal sales people from 10 to 18. Direct selling has proven to be the most effective way to market CX to new subscribers -- sales revenue per internal seller has increased in each of the last three years.
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Bridges.com Inc. 7B-1404 Hunter Court Kelowna, BC V1X 6E6 Tel: 250 862 8722 Fax: 250 862 8771 E-mail: info@bridges.com Website: www.bridges.com Investor Relations: Norm Thompson |
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The Alberta Stock Exchange has neither approved nor disapproved the information contained herein. |
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