Vancouver, Canada, August 17, 2000
Pivotal Corporation (NASDAQ NM: PVTL; TSE: PVT), today announced that its common shares have been approved for listing on the Toronto Stock Exchange (TSE).
— Pivotal Corporation (NASDAQ NM: PVTL; TSE: PVT), today announced that its common shares have been approved for listing on the Toronto Stock Exchange (TSE). The common shares of the company will commence trading today on the TSE under the symbol PVT. Pivotal commenced trading on the NASDAQ National Market under the symbol PVTL in August 1999 when it completed its initial public offering.
"Pivotal's decision to list on the TSE, Canada's premier capital market for companies in the technology industry, was in response to the strong demand for our stock by Canadian investors and strong coverage by Canadian financial analysts," said Vince Mifsud, executive vice president and CFO, Pivotal.
Pivotal's net revenues for the most recent quarter ended June 30, 2000, increased 118 percent to US$18.2 million compared to US$8.3 million a year earlier. Pivotal generated US$52.9 million in revenue for its fiscal year ended June 30, 2000, an increase of 109 percent compared to US$25.3 million for the fiscal year ended June 30, 1999.
According to Barbara Stymiest, president and CEO of the TSE, "Pivotal is one of the fastest growing companies in Canada and we are very pleased to have Pivotal listed on the TSE. The concentration of quality technology equities listed on the TSE has continued to grow, allowing Canadians access to strong investment possibilities in this sector."
Pivotal Corporation enables large and medium-sized businesses worldwide to make, serve, and manage customers with superior speed and efficiency by providing XML-based demand chain networks that deliver personalized customer experiences across every touch point in real-time. These networks unify Internet commerce, CRM, eSelling, and wireless technologies to manage collaborative relationships between customers, business partners, and employees; guide intelligent commerce transactions across multiple channels; seamlessly integrate the demand chain with the supply chain; and fully exploit Microsoft platform standards.
Pivotal solutions are sold in 35 countries and are available in English, French, German, Spanish, Portuguese, Swedish, Japanese and Chinese. Pivotal's worldwide customer base includes more than 1,000 organizations in traditional, commercial and public market sectors and the new digital economy, including KPMG, Intrawest Corporation, Emerson Electric, US Filter, Ericsson, Nissan Motor Corp., HarperCollins Publishers, Qiagen Inc., Deutsche Bank, Trader.com, Southern Company, Lucent Technologies, Inc., NEC, Deloitte & Touche, Principal Financial Group and Red Cross Australia.
Pivotal is a public company traded on the NASDAQ under the symbol “PVTL” and the Toronto Stock Exchange under the symbol “PVT.” More information can be found on the corporate Web site at http://www.pivotal.com.
This release contains certain forward-looking statements that involve a number of known and unknown risks, uncertainties and other factors that may cause actual results of events to differ materially from those anticipated in our forward-looking statements. Factors that could cause actual results to differ materially include: rapid technological changes in the industry; volatility in the market price of the company's common stock; the company's ability to successfully manage its growth; the ability to maintain and grow successful third party relationships, to improve current products and develop new products, to adequately protect the company's proprietary rights, and other factors as described in the company's SEC filings. Although we believe that the expectations reflected in our forward-looking statements are reasonable, individual results may vary, and we cannot guarantee future results, levels of activity, performance or achievements or other future events. Moreover, neither we nor anyone else assumes responsibility for the accuracy or completeness of forward-looking statements.
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