'Dramatic Reductions in Losses' and 'New Profit Opportunities' Reported by NeoMedia In Second Quarter and Six-Month Results.Business Editors FT. MYERS Myers can refer to: People
NeoMedia Technologies, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: NEOM) today reported financial results for the second quarter and six months ended June June: see month. 30, 2003, showing what it called "dramatic reductions in losses" and "new profit opportunities." NeoMedia reported a net loss of $2.2 million, or $0.04 per share, for the six-month period, decreases of 61% and 67%, respectively, as compared with net losses of $5.7 million, or $0.12 per share, reported for the same period in 2002. NeoMedia also reported a net loss of $1.3 million, or $0.02 per share, for the second quarter, decreases of 70% and 82%, respectively, as compared with net losses of $4.3 million, or $0.11 per share, reported for the second quarter of 2002. "We are encouraged by posting dramatic reductions in losses," said Charles Charles, archduke of Austria Charles, 1771–1847, archduke of Austria; brother of Holy Roman Emperor Francis II. Despite his epilepsy, he was the ablest Austrian commander in the French Revolutionary and Napoleonic wars; however, he was handicapped by T. Jensen Noun 1. Jensen - modernistic Danish writer (1873-1950) Johannes Vilhelm Jensen , president, COO (Cell Of Origin) See mobile positioning. and acting CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of NeoMedia. "Further, the company announced two proposed acquisitions and mergers (see "NeoMedia Reaches Agreement in Principal to Acquire Loch Energy, Houston-Based Company with $410 Million in Proven and Probable Oil Reserves Oil reserves refer to portions of oil in place that are claimed to be recoverable under economic constraints. Oil in the ground is not a "reserve" unless it is claimed to be economically recoverable, since as the oil is extracted, the cost of recovery increases incrementally ," Business Wire, March 13, 2003, and "NeoMedia Signs LOI LOI Letter of Indemnity (international trade and carriage business) LOI Letter Of Intent LOI Loss On Ignition LOI Letter of Inquiry LOI Lack Of Information LOI Lack of Interest LOI Letter of Invitation LOI List Of Items to Acquire Secure Source Technologies Including Seven Patents with Homeland Security Noun 1. Homeland Security - the federal department that administers all matters relating to homeland security Department of Homeland Security executive department - a federal department in the executive branch of the government of the United States and Wireless Industry Applications," Business Wire, July 28, 2003) which we believe should present exciting new profit opportunities for the second half of the current fiscal year and beyond." About NeoMedia Technologies NeoMedia Technologies, Inc. (www.neom.com), is an innovator and international leader in print-to-Internet and other technologies which make information faster and easier to access, with expertise in homeland security and e-authentication applications. This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. With the exception of historical information contained herein, the matters discussed in this press release involve risk and uncertainties. Actual results could differ materially from those expressed in any forward-looking statement. PaperClick is a trademark of NeoMedia Technologies, Inc.
NeoMedia Technologies, Inc.
Financial Data
(In thousands, except for per share data)
(unaudited)
Six Months Ended Three Months Ended
June 30 June 30
------- --------
2003 2002 2003 2002
---- ----- ------ -----
Net Sales:
License Fees $ 269 $ 153 $ 160 41
Software and
Equipment
Resales
and Service
Fees 1,279 4,895 514 3,611
Total Net Sales $ 1,548 $ 5,048 $ 674 $ 3,652
Gross Profit 209 499 113 417
Net Income/(Loss) (2,205) (5,729) (1,302) (4,347)
Net Income/(Loss)
per Share - Basic
and Diluted $ (0.04) $ (0.17) $ (0.02) $ (0.07)
Weighted Average
Shares
Outstanding -
Basic and Diluted 57,796,124 34,291,781 78,404,148 39,412,368
Balance Sheet Data
June 30, 2003
-------------
Cash $ 153
Current Assets 1,020
Total Assets 4,025
Current
Liabilities 9,892
Total Liabilities 10,031
Shareholders' Equity (6,006)
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