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EXHIBIT 99.1
POET HOLDINGS, INC. ANNOUNCES PRELIMINARY REVENUE
RESULTS FOR THE SECOND QUARTER ENDED JUNE 30, 2000
SAN MATEO, CALIFORNIA -- JULY 6, 2000 -- POET Holdings, Inc. (Neuer Markt: POXA)
announced today preliminary revenue results for the second quarter ended June
30, 2000 in the range of $2.7 to $2.9 million, representing a growth of 6% to
15% over the same period last year. These revenues are below the company's
expectations primarily due to lower than anticipated revenues in the POET
Content Management Suite (CMS) product line, and to a lesser extent, in the POET
Object Server Suite product line and consulting services.
POET's strategic Business-to-Business product line, the electronic Catalog Suite
(eCS), slightly exceeded the company's expectations and reached approximately
$500,000 in product license revenues, representing approximately 150% growth
compared to the quarter ended March 31, 2000. The company closed a total of
eight new eCS accounts during the quarter including Deutsche Telecom and
Icenter, a subsidiary of Siemens AG.
The results for the quarter ended June 30, 2000 for POET CMS and POET eCS
represent further evidence that the market for the CMS product line remained
difficult, while the market acceptance for the eCS product line continued to
expand rapidly.
As a result of the continued slow revenue growth for the CMS product line, the
company is reallocating resources from the CMS product line to the eCS product
line. The company will continue to maintain and support its current CMS customer
base. However, the company will not pursue new CMS sales opportunities.
The announcement of the final results for the quarter ended June 30, 2000 is
scheduled for release on July 25, 2000.
ABOUT POET HOLDINGS, INC.
POET Holdings, Inc., an international software company with offices throughout
the US and Western Europe, develops data management software and solutions that
allow organizations to share, manage and manipulate complex information to
facilitate effective business-to-business processes and information exchange
over the Internet. POET's product offerings consist of the POET Object Server
Suite database management system and the POET eCatalog Suite. POET Holdings,
Inc. is publicly traded on the Frankfurt Stock Exchange (Neuer Markt: POXA).
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Organizations around the world, such as, Lucent, Perkin-Elmer and TAKKT AG use
POET's software to efficiently manage and share complex information. POET
Holdings, Inc. has partnerships with leading technology companies such as,
Ariba, Commerce One, Ericsson LM, and Microsoft.
POET Holdings, Inc. maintains headquarters in San Mateo, California and Hamburg,
Germany. For more information, visit the company at http://www.poet.com.
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This press release contains forward-looking statements, including statements
regarding the company's expectations of total revenues for the quarter ended
June 30, 2000 as well as revenues for its eCS and CMS product lines. These
statements are based on current expectations that involve risks and
uncertainties, including risks associated with uncertainties pertaining to the
timing and level of customer orders, demand for products and services,
development of markets for POET Holding's products and services, and other risks
identified in POET Holding's SEC filings, including our report filed on form
10-K for the year ended December 31, 1999, filed with the Securities and
Exchange Commission. Due to these risks and uncertainties, POET's actual
results, events and performance may differ materially from the results discussed
in in the forward-looking statements. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as of the date
hereof. POET Holdings undertakes no obligation to release publicly the result of
any revisions to these forward-looking statements that may be made to reflect
events or circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
