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Microforum Inc. (ticker: MCF.TO, exchange: Toronto Stock Exchange) Microforum Comments on Nine Month Financials Toronto, Ontario, Canada January 18, 2001 On December 1, 2000, the company announced plans to focus on its core e-business operations and to discontinue certain non-core operations. The revenues from the discontinued operations will therefore be excluded from reported revenues. As a result, reported revenues will be below analyst expectations. The company expects to report a loss from continuing operations before interest, tax, depreciation and amortization in the range of $5.5 to $6.5 million. The loss is expected to include charges aggregating $4.3 to $5.3 million in respect of a higher than usual provision for doubtful accounts related to the downturn in the economy as well as costs related to the refocusing of the business. The company also advises its net loss will include significant charges for the impairment of goodwill and an accrual for estimated losses of discontinued operations from November 30, 2000 to the expected disposal dates. Results for the third quarter will be released on or before January 29, 2001. About Microforum Inc. |