ADB Systems International Inc. 6725 Airport Road, Suite 201 Mississauga, ON L4V 1V2 Tel: 905-672-7467 /
Facsimile: 905-672-5705 Website: www.adbsys.com
(Nasdaq: ADBI, TSE: ADY)
For Immediate Release
ADB SYSTEMS ANNOUNCES Q1 2002 FINANCIAL RESULTS
Grows revenue by 28%; generates substantial bottom-line improvement
TORONTO - April 24, 2002 - ADB Systems International Inc. (Nasdaq: ADBI, TSE:
ADY), a global provider of asset lifecycle management solutions, today announced financial results for its first
quarter ended March 31, 2002. All figures are in Canadian dollars. As at March 31, 2002, the exchange rate
was CDN $1.5958 to US$ 1.00.
Gross revenue in the first quarter was $1.49 million, an increase of 28 percent when compared to the $1.17
million achieved in the fourth quarter of 2001. Revenue was comprised of software license sales, service fees for
software implementation, application hosting, support and training, and transaction fees from on-line activities
performed for customers.
"We are very pleased with the results of this, our first full quarter operating as ADB Systems," said Jeff
Lymburner, CEO of ADB Systems. "By surpassing our revenue expectations for two consecutive quarters and
demonstrating continued bottom-line improvement we are building considerable momentum that we believe will
deliver positive results for the Company well into the future."
ADB recorded a net loss for the period of $2.27 million or $0.06 per basic share, an improvement by 81 percent
when compared to the net loss of $12.20 million or $.32 per basic share achieved in the fourth quarter of 2001.
ADB also reported a loss from operations of $2.27 million or $0.06 per basic share. This compares to an
operating loss of $2.78 million or $0.07 per basic share in the fourth quarter of 2001. Operating loss is a non-
GAAP earnings measure that may be calculated differently by other issuers. Operating loss is defined as net loss
excluding restructuring costs and the effects of gains an