Growth for eScout

Company reports better-than-expected revenues for first half of year, customer wins

Lee's Summit, MO  August 6, 2002  Collaborative trading solution provider eScout this week announced healthier than expected revenues for the first half of 2002, as well as a statement of confidence that it is on target to achieve its goals for the balance of the year. The period was marked by many new agreements and record growth for the e-business services company.

According to eScout, revenues for the period were up 160.8 percent for the first quarter and 113.9 percent in the second quarter, when compared to the same periods in 2001. Likewise, transactions saw positive growth with a 59.4 percent first-quarter increase and a 103.4 percent second-quarter increase as compared to the same periods in 2001.

In the first half of 2002, eScout announced the signing of more than 10 new major agreements with Fortune 2000 companies to its suite of purchasing products. These agreements are expected to more than double eScout's revenue. Included in these agreements are one of the nation's largest insurance companies, which selected ConnectScout to access pre-enabled suppliers; a Fortune 200 financial corporation; and a global pharmaceutical company that will be using ProcureScout and ConnectScout products for its more than 8,000 users worldwide.

Along with the wins, eScout was selected by The Veterans Corp. to build its Web site and operate an online exchange for the nearly five million U.S. Veterans who are business owners. Through the Veterans MarketPlace, business owners will be able to transact electronically with government purchasers.

"We enjoy the momentum, the growth in sales to substantial corporations, and our opportunity with the U.S. government, but most of all, we enjoy the growth in confidence our customers are placing in eScout," said Sandy Kemper, founder and CEO of eScout Kemper.