IntraNet Solutions reports increased revenues

IntraNet Solutions (Eden Prarie, MN, http://www.intranetsol.com

) (Nasdaq: INRS) reported Q1 ‘98 revenues of $5,773,524, an increase of 38 percent over Q1 ‘97 revenues. The company reported a net loss of $852,326, or 11 cents per share, for the quarter, compared with a net loss of $285,848, or 7 cents per share, in last year's first quarter.

"We continue to see good growth in our revenues and improving gross margins," said chairman and CEO Robert F. Olsen. Added infrastructure and increased marketing support for the Intra.doc! Management System impacted quarterly expenses. "Our results for the quarter are in line with our expectations and consistent with our plans for achieving profitability by the end of this fiscal year," he added.