EXHIBIT 99.1
CONTACT: Jacqueline Hanson Tom Donnelly
Corporate Communications Chief Financial Officer
Net Perceptions, Inc. Net Perceptions, Inc.
952-842-5063 952-842-5400
After hrs: 612-385-3949 [email protected]
[email protected]
NET PERCEPTIONS ANNOUNCES FOURTH QUARTER EXPECTATIONS
MINNEAPOLIS - (December 28, 2000) - Net Perceptions, Inc. (Nasdaq: NETP)
today announced that the company expects to report revenues for the quarter
ending Dec. 31, 2000 ranging between $6.3 million and $7.3 million. The
company also said it expects to report a net loss ranging from $9.5 million
to $11.0 million or ($0.36) to ($0.41) per share before the amortization of
intangibles and stock compensation expense. These results compare with
revenues of $6.3 million for the fourth quarter ended Dec. 31, 1999, and a
net loss of $2.7 million or ($0.13) per share, before stock compensation
expense.
"Although we did not meet our anticipated financial goals, I'm pleased
with the progress we've made this quarter," said Steven Snyder, Net
Perceptions chief executive officer. "Specifically, we restructured our
field operations organization, implemented new sales processes to focus on
larger transactions within the retail sector, and we built a solid sales
pipeline for next year. We also released Net Perceptions for e-Commerce
version 6.0 featuring our new Personalization Manager that combines
collaborative filtering and rules-based personalization technology with an
easy to use graphical user interface.
"However, we again saw deals slip into future quarters," added Snyder.
"And we incurred greater than anticipated costs associated with our recent
reorganization. Those factors combined with the current economic conditions
impacted our quarterly financial performance.
"In spite of these factors, our accomplishments this quarter represent
significant milestones in positioning our company for 2001," said Snyder.
The company anticipates finishing the year with a solid balance sheet,
with more than $96 million in cash and marketable securities and minimal
debt.
The company will be providing more information related to the quarter
at the regular quarterly conference call scheduled for Jan. 30, 2001.
ABOUT NET PERCEPTIONS
Net Perceptions, a leading provider of precision merchandising and
personalization infrastructure software, is the innovator and preeminent
supplier of software solutions that allow companies to translate knowledge
into profitable business action. Its Commerce Solutions and Knowledge
Solutions products enable companies to capitalize on business information
and optimize product assortments, pricing, customer relationships and
intellectual capital. Customers include market leaders such as Best Buy,
J.P. Morgan, JC Penney, Kmart and The Children's Place. The company is
based in the U.S. and has offices in six other countries. For more
information visit http://www.netperceptions.com or call 800-466-0711.
Net Perceptions and the Net Perceptions logo is a registered trademark of
Net Perceptions, Inc. All other trademarks are the property of their
respective owners. This news release contains forward-looking statements
that involve a number of risks and uncertainties. Among the important
factors that could cause actual results to differ materially from those
indicated by such forward-looking statements are the company's limited
operating history, delays in product development, development of the
Internet market, changes in product pricing policies, competitive
pressures, and the risk factors detailed from time to time in the company's
periodic reports and registration statements filed with the U.S. Securities
and Exchange Commission.
