MapInfo Corporation anticipates return to profitability in fiscal fourth quarter

MapInfo Corporation anticipates return to profitability in fiscal fourth quarter

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MapInfo Corporation has announced that, based on a preliminary review of the financial results for the three months has ended on September 30, 2002. It anticipates revenues to be approximately $23.6 million and net income to be approximately $0.01 per share. In the preceding quarter, the Company reported $22.7 million in revenues and a net loss of $0.03 per share. For the fourth quarter of fiscal 2001, the Company reported revenues of $26.4 million and a net loss of $0.14 per share.

The Company repurchased approximately $1.5 million worth of common stock in the fourth quarter under the $10 million buyback program announced on July 31, 2002. “Following the release of final financial results on October 31, 2002, we expect to resume the common stock repurchase program in early November,” concluded Cattini.

MapInfo will announce final fourth quarter and fiscal year 2002 results before the market opens on Thursday, October 31, 2002 followed by the Fourth Fiscal Quarter Earnings Conference Call at 8:30AM (EST).