1-800-ATTORNEY Reports Second Quarter 2001 Results; Company Continues to Expand Attorney Marketing Network.Business Editors LAKE HELEN Lake Helen may refer to:
1-800-ATTORNEY Inc. (Nasdaq:ATTY ATTY Attorney ATTY A Thousand Thank Yous ) today announced solid progress with the company's strategic rollout of its national attorney marketing network, 1-800-ATTORNEY, for its second quarter ended June June: see month. 30, 2001. The company reported a net loss of $797,180, or $0.15 per common share in the second quarter of 2001, compared with a net loss of $953,769, or $0.21 per common share, recorded in the second quarter of 2000. Revenues for the second quarter of 2001 were $1,207,953 compared with $1,299,829 reported for the same period last year. For the six-month period ended June 30, 2001, the company reported a net loss of $1,517,462, or $0.30 per common share, compared with a net loss of $1,708,039, or $0.41 per common share, reported last year. Revenues for the same periods totaled $2,351,368, compared with $2,519,143 a year ago. The company indicated that results for the second quarter reflect contributions only from the Central Florida
Central Florida is the central region of the United States state of Florida, on the East Coast. Designated Marketing Area (DMA (1) (Digital Media Adapter) See digital media hub. (2) (Document Management Alliance) A specification that provides a common interface for accessing and searching document databases. ) for the month of June. The company anticipates benefiting from the contribution of two additional DMAs in the third quarter of this year as a result of its launch of networks in Miami Dade in July and Tampa in August. 1-800-ATTORNEY Inc. and its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. PCNA PCNA Proliferating Cell Nuclear Antigen PCNA Preventive Cardiovascular Nurses Association PCNA Pepsi Cola North America PCNA Post Conflict Needs Assessment (United Nations) PCNA Pudelpointer Club of North America Communications Corp. are leading providers of print directories within the legal industry and are executing a strategy of becoming the nation's leading attorney marketing network. "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Statement Under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: The statement made above relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the benefits in the third quarter from the contribution of three DMAs is a forward-looking statement 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. The statements that express the "belief," "anticipation," "plans," "expectations" and similar expressions are intended to identify forward-looking statements. The results anticipated by these forward-looking statements may not occur. While the company believes that these statements are accurate, its business is dependent upon general economic conditions and various conditions specific to its industry and future trend results cannot be predicted with certainty. Important factors that may cause actual results to differ materially from the forward-looking statements include the following: 1) the company's ability to successfully achieve and manage the technical requirements of the marketing network as intended; 2) the continued receptiveness re·cep·tive adj. 1. Capable of or qualified for receiving. 2. Ready or willing to receive favorably: receptive to their proposals. 3. of attorneys to the company's marketing network and the continuance The adjournment or postponement of an action pending in a court to a later date of the same or another session of the court, granted by a court in response to a motion made by a party to a lawsuit. of their contracts to term; and 3) the continued reception of consumers to advertisements the company places. For more information regarding some of the ongoing risks and uncertainties of the company's business, see the section titled "Risk Factors and Uncertainties" in the company's most recent annual report on Form 10-KSB on file with the Securities and Exchange Commission.
1-800-ATTORNEY Inc.
Consolidated Statements of Operations
(Unaudited)
Three months ended Six months ended
June 30, June 30, June 30, June 30,
2001 2000 2001 2000
Net sales $1,207,953 $1,299,829 $2,351,368 $2,519,143
Costs and expenses:
Production 604,561 514,421 1,049,849 907,614
Marketing and selling 823,154 661,215 1,468,635 1,186,803
Depreciation and
amortization 109,842 65,599 227,768 110,375
General and
administrative 479,254 1,055,484 949,778 1,910,318
2,016,811 2,296,719 3,696,030 4,115,110
Loss from
operations (808,858) (996,890) (1,344,662) (1,595,967)
Other income
(expense), net 11,678 43,121 (172,800) 71,773
Loss before
cumulative effect
of change in
accounting
principle (797,180) (953,769) (1,517,462) (1,524,194)
Cumulative effect
of change in
accounting
principle -- -- -- (183,845)
Net loss ($797,180) ($953,769)($1,517,462)($1,708,039)
Loss per common share
before cumulative
effect of change
in accounting
principle - basic
and diluted ($0.15) ($0.21) ($0.30) ($0.37)
Cumulative effect of
change in
accounting
principle -- -- -- (0.04)
Net loss per common
share - basic and
diluted ($0.15) ($0.21) ($0.30) ($0.41)
Shares used in
computing net loss
per common share -
basic and diluted 5,154,402 4,591,349 5,140,732 4,160,645
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