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Weekly News Digest

May 21, 2001 — In addition to this week's NewsBreaks article and the monthly NewsLink Spotlight, Information Today, Inc. (ITI) offers Weekly News Digests that feature recent product news and company announcements. Watch for additional coverage to appear in the next print issue of Information Today. For other up-to-the-minute news, check out ITIís Twitter account: @ITINewsBreaks.

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ingenta Announces 348-Percent Increase in Gross Profits

ingenta (http://www.ingenta.com), an online distributor of published scientific, professional, and academic research, has announced its interim report for the 6 months that ended March 31. The company's revenue increased by 294 percent to $6.7 million and gross profits were up 348 percent to $5 million.

"The company continues to demonstrate that it can deliver growth that is both rapid and sustainable, supporting management's view that the $6 billion industry in which it operates is unaffected by prospects of a global slowdown," said Martyn Rose, chairman of ingenta. "Management has continued to build on its market-leading position in both the U.K. and the U.S. following the acquisition of CatchWord, and is firmly on course to continue its significant growth rate. With the company's cost base now established, further growth in sales is set to feed through rapidly into profits, on schedule late this year."

"The company now provides access to over 4,500 publications, representing over two-thirds of the material currently online in this sector," said Mark Rowse, chief executive of ingenta. "With under 10 percent of the world's scientific, professional, and academic research available online, the scope for further growth is substantial."

Source: ingenta



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