1MAGE Software reports first-quarter loss of 1 cent per share, looks for profitable year.ENGLEWOOD, Colo.--(BUSINESS WIRE)--May 16, 1996--1MAGE Software Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ISOL) today announced results for its first quarter ended March 31, 1996. 1MAGE Software reported revenue of $384,736 for the three months ended March 31, 1996, compared to $1,198,974 reported for the same period one year ago. The net loss for the first quarter of 1996 was reported to be $27,998, or 1 cent per share, vs. a net loss of $45,003, or 2 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , in the same quarter of 1995. However, gross profit margins Gross profit margin Gross profit divided by sales, which is equal to each sales dollar left over after paying for the cost of goods sold. gross profit margin A measure calculated by dividing gross profit by net sales. have improved from 36 percent in the first quarter of 1995 to 44 percent in the current period. Starting in the second half of 1995, the company cut its operating costs operating costs npl → gastos mpl operacionales and reinforced its emphasis in vertical markets, other than transportation, through its Value Added Reseller See VAR. (company) value added reseller - (VAR, or "value added retailer") A company which sells something (e.g. computers) made by another company (an OEM) with extra components added (e.g. specialist software). ("VAR") channel. The company has received a record number of inquiries about its 1MAGE system and is currently in negotiations on a record number of contracts. Recent orders from the VAR channel, including the significant maintenance arrangement from Reynolds & Reynolds, in addition to cost-cutting efforts, give the company reason to believe that the overall financial results in 1996 should return the company to profitability. "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 statements regarding future financial results are 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. that involve risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements, including delays in shipment or cancellation of orders, timing of future orders, customer reorganization, fluctuations in demand and the other risks detailed from time to time in the company's reports which are filed with the Securities and Exchange Commission. -0-
EARNINGS RECAP First Quarter Ended
March 31,
1996 1995
Revenue $384,736 $1,198,974 Net Income (Loss) $(27,998) $ (45,003) Income (Loss) Per Share $ (.01) $ (.02) Weighted Average Shares Outstanding 1,936,859 1,897,164 1MAGE Software Inc., of Englewood, Colo., develops and markets the 1MAGE Document Management System, 1MAGE(TM). 1MAGE, a comprehensive, UNIX-based electronic document management and retrieval system, is distributed through an international network of resellers. For additional information, contact 303/773-1424. CONTACT: 1MAGE Software Inc., Englewood Brooke Wittenburg, 303/773-1424, ext. 137 |
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