FOR IMMEDIATE RELEASE
CONTACT:
DERMOT O'GRADY, CFO
MATHSOFT, INC.
(617) 577-1017, x821
MATHSOFT REPORTS RECORD SECOND QUARTER 2000 REVENUES
CAMBRIDGE, Mass., July 20, 2000- MathSoft, Inc. (Nasdaq: MATH) today reported
net revenues of $7.9 million for its second quarter ending June 30, 2000. This
compares to net revenues of $6.5 million in the second quarter of 1999, an
increase of 20%. The revenue performance set a new second quarter record for
the company. The Company reported a $2.5 million net loss for the second
quarter of 2000, or $.24 loss per share, compared to net income of $.4
million, or $.04 per share, for the second quarter of 1999.
SECOND QUARTER HIGHLIGHTS
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- The Data Analysis Products Division posted record quarterly net revenues of
$ 3.7 million up 27% from the same period last year.
- The StudyWorks product line grew 103% from 2Q99 assisting the Engineering
and Education Products Division to expand its net revenues over last year's
second quarter.
- FreeScholarships.com began ramping revenue during the second quarter and
reported $262,000, up from $35,000 in the first quarter. Registered members
now exceed 470,000.
ABOUT MATHSOFT
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Founded in 1984, MathSoft is a leading provider of technical calculation and
analytical software for business and academia. The company has more than one
and a half million users of its Mathcad, StudyWorks, S-PLUS, StatServer and Axum
software worldwide. Users include professionals worldwide at more than 90% of
the Fortune 1,000 companies and over 500 government installations, and students
and faculty at over 2,000 colleges and universities. MathSoft is also the
parent company of FreeScholarships.com, an internet company providing
information and assistance to a broad market of parents and students concerned
about funding the costs of education. FreeScholarships.com awards money to pay
for tuition costs through online sweepstakes for United States residents.
Information contained in this document, which refers to MathSoft's future
financial performance, represents management's best estimate at the present time
and actual results could differ materially from present estimates. Factors that
might cause such differences include, but are not limited to, the risks
associated with distribution channels; the risks associated with international
operations; the risks associated with acquisitions; the risks associated with
investments in new products and services, including FreeScholarships.com, and
the ability to enhance current products and to introduce new products in a
timely fashion. Please refer to the cautionary statements appearing in
MathSoft's Annual and Quarterly Reports and prospectus filed with the Securities
and Exchange Commission for a discussion of these and other various factors that
could cause MathSoft's actual results to differ materially from those discussed
in the forward-looking statements.
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Axum, S-PLUS, StatServer, StudyWorks and Mathcad are registered trademarks, and
the MathSoft logo is a trademark of MathSoft, Inc. FreeScholarships.com is a
trademark of FreeScholarships.com, Inc.
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