Newgen Results Corp. –

SAN DIEGO, Calif. – Newgen Results Corp., a management and marketing service for car dealerships’ repair departments, held an initial public offering May 21. The company offered 2.7 million shares of common stock at $13 apiece, in the middle of the $12 to $14 filing range.

Hambrecht & Quist, BancBoston Robertson Stephens and Dain Rauscher Wessels underwrote the offering worth an estimated $48.4 million.

Venture backers include Trident Capital, BankAmerica Ventures, Capstone Ventures and Johari Investment Co. Ltd. Selling shareholders offered 1 million shares of common stock.

Newgen Results, incorporated in California in February 1994 and reincorporated in Delaware in December 1998, provides automobile dealers’ service departments with marketing, database management and related services. The company experienced losses of $4.7 million in 1996, $2.2 million in 1997 and $3.2 million in 1998.

Proceeds from the offering, which left 9.9 million shares outstanding, will be used for general corporate purposes.

Jess Marzak, managing director of BankAmerica, joined the company’s board of directors in August 1996. Managing directors of Trident Todd Springer and John Moragne became directors in December 1997, followed by Eugene Fischer, managing member of Capstone Management L.L.C, who joined the board in August 1999.

Newgen Results Corp – Selected Financial

(in thousands, except per share data )

Year Ended December 31, Three Months Ended March 31, (unaudited)

1994 1995 1996 1997 1998 1998 1999

Total revenue 2,018 3,614 11,629 26,414 40,106 9,274 12,104

Net income (loss) -596 -2,811 -4,691 -2,189 -3,203 -663 524

Net loss per share -0.16 -0.75 -1.25 -0.62 -1.21 -0.27 0.03