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Net loss is calculated before accretion related to redeemable preferred stock.
Commenting on the results, President and CEO Michael Brochu said, We are extremely pleased with our record fourth quarter and overall 1999 performance. The past year underscored the overwhelming market acceptance of our eService software and related services. We established a strong customer base of Global 2000 companies, assembled an experienced management team and created a scalable corporate infrastructure. Most importantly, we created value for our customers, our shareholders and our employees. Brochu continued, Through a combination of strategic acquisitions and internal development, we executed on our vision of providing a broader product suite, encompassing the functionality to support email management, eSales, eMarketing and eSupport.