XoX Corp. remodels board and posts profit. (March 1999)

Thanks to a $5.75 million deal struck with GeoQuest, hi-tech 3D geometry specialists XoX are showing revenue growth.

Xox, the 3-D geometric software specialists have posted 1998 net revenues of $2,241,389. Most of the revenue hike comes from a deal struck with GeoQuest, which selected the XoX Shapes geometric engine as the core technology for its Shared Earth Model (See PDM Vol 3 N 3). XoX states that that geosciences will continue in fiscal year 1999 to represent the main revenue stream.

cost cutting

Both operating expenses and R&D have been significantly reduced in a cost cutting exercise and changes have been made to the XoX board. Mr. Mark Senn has been promoted from VP Operations to Executive Vice President and COO while Dr. Pradeep Sinha is resigning as CEO, CTO and member of the Board. XoX Chairman Steve Liefschultz announced that XOX is to open up shop in Houston and has appointed Tim Ryan as VP Sales. Tim was previously with Paradigm Geophysical. Currently 12 geoscience applications companies are developing applications based on the SHAPES geometric computing system.

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