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July 15, 1998

WHITE PINE WARNS OF SECOND QUARTER LOSS

By CBR Staff Writer

White Pine Software, Inc, Nashua, New Hampshire-based provider of browser-based internetworking and videoconferencing software, said it expects to report a net loss of between $0.26 and $0.29 per share for the second quarter ended July 3. Analysts had previously been expecting a loss of $0.17 per share, according to Zack’s Investment Research. The expected loss is on a par with the year-ago quarter’s $0.27. Revenue for the quarter is projected to be roughly $1.7m, or down nearly 35% against $2.6m for the comparable quarter last year. The company will report full results for the quarter on July 28. White Pine, which has had its share of financial trouble, is blaming the shortfall on continued problems in the Asia/Pacific and European markets, as well as the anticipated further decline in revenues from its legacy terminal emulation products. The company did note, however that it is encouraged with initial adoption rates of its ClassPoint distance learning product which began shipping during the quarter. Sales of the MeetingPoint server in the corporate market have also picked up, according to White Pine. The announcement marks the second negative pre-announcement for the company in as many quarters this year. For the last fiscal year, White Pine reported a net loss of $6.8m on revenue down 5.3% at $11.1m, up from a loss of $3.6m the year before.

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