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September 16, 1998

COMPANY RESULT: ACCELR8 TECHNOLOGY CORP

By CBR Staff Writer

Accelr8 Technology Corp, Denver-based systems migration and year 2000 company, has reported a fourth-quarter net loss of $0.04 per share on revenue of $393,000. For the full year, the company reported net income up 198.2% at $2.5m on revenue up 196.6% at $7.4m. Earnings per share for the year were $0.35, a 191.6% increase over the prior year. Accelr8 had warned in July that its fourth quarter numbers would be hurt by weaker-than-expected demand for its Y2K tools, slower sales of its tools by Compaq Computer Corp, and issues of redesigning the tool set to make it more user-friendly. The company had also counted on certain sales targets from its worldwide license agreement with Digital Equipment Corp, which weren’t met due to its merger with Compaq.

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