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| Ezenet is a
multifaceted company providing computer software, data
center outsourcing and high speed Internet communication
services to the business community, primarily the
financial services sector. Clients include such well
known names as the Bank of Montreal, Newcourt Credit
Group, First Marathon Mortgage Corporation, AGF Trust
Company, Peoples Trust Company, Merrill Lynch, and MRS
Trust Company (a division of Mackenzie Financial). Although incorporated in 1995, the company's roots go back to 1978. It has been designing secure specialized software for the financial services industry since the beginning. And it has been profitable for every one of its first twenty years. In recent years , the company added high speed Internet access exclusive to the business community with dedicated T1, T3 and ISDN lines. It also designs first class websites for its clients complete with all the bells and whistles - ActiveX, Java, VRML and more. It has also developed its online database software, Instabase, now in version 4.0. Version 5.0 is in the preview stage. Instabase is an extremely user friendly database application that lets even the novice create databases that can be viewed and searched over the Internet. It is downloadable at the site for a thirty day preview and commercially available in retail stores. It is sold in the U.K and Europe as well as Canada and the U.S.. Tucows gives it a five cow rating and PC Magazine says it is "among...the very best business downloads." Business Week calls it "first rate software for small biz". In mid-November the company announced a strategic alliance with web-hosting firm ValueWeb incorporating Instabase into ValueWeb's hosting program. In June 2000, The company acquired Netstor Technologies, which makes proprietary servers tailored to the needs of Internet Service Providers, Application Service Providers and Wireless Application Protocol services. In September 2000, it acquired Wealth Management Solutions Inc., a software development company focusing on the financial management industry. WMSI was named one of the top 25 "up and comers" in 1999 in the Branham Group's annual survey of IT companies. Ezenet is now expanding into the U.S. market and is waiting for FDIC approval of its software. It opened its first U.S. office in Morrisville, North Carolina in August 2000. For the quarter ending March 31, 2000, the company recorded a loss of $0.01 a share compared to a profit of $0.03 a share the year before. This was turned around in the second quarter with an 87% increase in revenues over the same quarter in 1999 and marginal profitability. The lower earnings despite increasing revenues are associated with expansion costs. Ezenet had a substantial cash position of over $45 million to June 30, 2000 with negligible debt. Shares Outstanding: 13,832,248
Featured Company Profile - December 1999 profile on Ezenet from Investcom.com. Address: Phone:
905-889-1711 This
page first posted: Feb. 6, 2000 |
Stock Symbol: EZE (TSE) News: Forums: |