IntraNet Solutions Posts Earnings, New Hires
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IntraNet Solutions Inc. this week released its financial results for the second quarter and announced promotions and additions to its executive management team.
The Web content enabler said net income before acquisition-related expenses was $3.4 million, or 15 cents per share, on a diluted basis for the quarter ended September 30, 2000, compared with net income of $500,000, or 3 cents per share, on a diluted basis for the quarter ended in 1999.
Second quarter revenues were $15.6 million, an increase of 242 percent over the $4.6 million reported for the same period last year.
Robert Olson, chairman and chief executive officer of IntraNet Solutions, said his firm crushed analysts estimates in revenue, net income and earnings per share. He said his firm owed its success to a number of key events though its purchase of Inso Corp.'s Information Exchange Division for $55 million stands front and center.
Those factors, in conjunction with its 60 new accounts and the popularity of its Xpedio Content Management System, led to the firm's plump revenues.
"META Group predicts that by 2004 the business-to-business and business-to-employee content management markets will constitute $6 billion of the entire $10 billion content management sector," Olson said in a statement issued late Thursday.
"We now believe we are the largest software company -- in terms of customers, employees and revenue -- that is focused primarily on business-to-business and business-to-employee Web content management," Olson concluded.
IntraNet Solutions capped off its bullish week Friday by announcing two promotions and two additions to its executive management teams.
- Vern Hanzlik has been promoted to president of IntraNet Solutions, a vault from his most recent post of vice president of sales, where he made sure the firm met its revenue goals. Hanzlik has held several key senior management roles in marketing, sales and product development for IntraNet Solutions
- Katherine Bloomfield has been promoted to vice president of operations, a leap from her role as vice president of consulting services since 1998 and was responsible for expanding the global consulting services organization to support the company's increasing sales
- Enterprise software veteran Robin Pederson has joined the company as vice president of worldwide sales, a position in which he will focus on further expanding IntraNet Solutions' direct and indirect sales channels
- Michael Gadow has joined as vice president of channels where he will build IntraNet Solutions' indirect channel into a revenue source for the company