Press Release

Press Release

Viador Announces First Quarter Results

Sunnyvale, Calif., May 23, 2002. Viador Inc.™ (OTC Bulletin Board: VIAD), today announced financial results for its first quarter ended March 31, 2002. In the first quarter of fiscal 2002, Viador reported revenue of $1.4 million, compared to $1.4 million reported in the fourth quarter of 2001 and $3.6 million reported for the first quarter of fiscal 2001.

GAAP net income was $1.2 million for the first quarter of 2002 compared to a $0.3 million net income in the fourth quarter of 2001 and a net loss of $6.8 million in the first quarter of 2001. Pro forma net loss, which excludes unusual or non-recurring events or transactions, amortization of stock-based compensation, goodwill amortization, the reversal of various accruals, extraordinary gain on extinguishment of debt, restructuring expense, and impairment loss was $0.1 million for the first quarter of 2002 compared to a pro forma net loss of $0.5 million for the fourth quarter of 2001 and a pro forma net loss of $6.5 million for the first quarter of 2001.

GAAP diluted earnings per share for the first quarter of 2002 were $0.04 based on 33.1 million weighted average shares. This compares with a net income per share of $0.01 for the fourth quarter of 2002, based on 33.1 million weighted average shares, and a loss per share of $0.38 for the first quarter of 2001, based on 18.2 million weighted average shares.

Excluding the unusual or non-recurring events or transactions, amortization of stock-based compensation, goodwill amortization, the reversal of various accounting accruals, restructuring expense, and impairment loss totaling zero in the current period, Viador’s pro forma operating loss was $0.1 million in the first quarter of 2002, compared to $0.4 million in the fourth quarter of 2001 and $6.6 million in the first quarter of 2001.

“In the first quarter, we continued to balance costs and revenues. Importantly, we were able to successfully settle obligations due to creditors and exit the quarter with a much cleaner balance sheet and better liquidity,” said Stan Wang, president and CEO, Viador. “We secured additional funding for the company. We’re prepared both for the current economic climate and for the opportunities to come.”

The following table shows the Company's pro forma results reconciled to the Generally Accepted Accounting Principles ("GAAP") Consolidated Statements of Operations table included above. The Company's pro forma results do not include unusual or non-recurring events or transactions, amortization of stock-based compensation, goodwill amortization, the one-time reversal of certain accruals, extraordinary gain on extinguishment of debt, restructuring expense, and impairment loss.

The above results do not reflect GAAP, but are supplied to provide an alternative measure of our operating results.

About Viador Inc.
Viador Inc. combines proven experience, technology and partnerships to deliver Business Intelligence for leading businesses and organizations worldwide. Viador offers the best BI development tools for SI/ISV partners and Enterprise customers by providing a platform that is highly customizable, allows the addition of new features on demand, requires zero client maintenance, offers quick and reliable deployment and the industry's lowest TCO. Viador is headquartered in Redwood Shores, Calif. For more information, contact Viador at calling (650) 551-6000, Fax (650) 551-1200, email press@viador.com, or visit the Viador website at www.viador.com.

Viador Safe Harbor
Statements in this release that are forward looking involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to be materially different from any future performance that may be suggested in this release. Such factors may include, but are not limited to, its ability to obtain additional financing, demand for and market acceptance of the Company's products and services, expansion into international markets, introductions of products and services or enhancements by the Company and its competitors, competitive factors that affect the Company's pricing, the timing of customer installations, the mix of products and services the Company sells, the timing and magnitude of capital expenditures (including costs relating to the expansion of operations), the size of customer orders, the hiring and retention of key personnel, conditions specific to the internet industry and other general economic factors, and new government legislation or regulation. Reference is made to the discussion of risk factors detailed in the Company's filings with the Securities and Exchange Commission, including its reports under the Securities Exchange Act of 1934, as amended. Viador assumes no obligation to update any forward-looking statements contained in the press release.

EDITORS NOTES: Viador and the Viador E-Portal are trademarks of Viador Inc. of Sunnyvale, California. All other products or company names mentioned are used for identification purposes only, and may be trademarks of their respective owners.

SOURCE: Viador, Inc.
Media Contact for Viador:
Viador Inc.
650.551.6000
press@viador.com