IntraNet Solutions Posts Q3 '98 Financial Results
IntraNet Solutions (Eden Prairie, MN) announces Q3 '98 financial results. Revenue of $5 million represents a 2.5% increase over Q3 '97 revenue. A net loss of $596,361 compares with a Q3 '97 net loss of $115,790. The figures reflect a charge of nearly $500,000 related to IntraNet's ongoing efforts to shed its on-demand publishing Distribution Group. Revenue from software, technical services and support were up 20% from Q3 '97. Gross profit increased 36% from Q3 '97. During the quarter IntraNet Solutions signed an agreement with Xerox (Rochester, NY) to distribute IntraNet Solution's products in Europe, Africa and the Middle East. The company also unveiled Version 3.0 of its Intra.doc Web-based document management system, and named three people to its board of directors.