ACCENT SOFTWARE INTERNATIONAL LTD. REPORTS FIRST QUARTER RESULTS.JERUSALEM--(BUSINESS WIRE)--May 14, 1996--Accent Software International Ltd. (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 : ACNTF) today announced results for the first quarter ended March 31, 1996. Net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight for the three month period ended March 31, 1996 increased approximately 350% to $2,843,000 compared to $633,000 in the same period in 1995. This overall sales increase was attributable to increases in both package software unit sales unit sales Sales measured in terms of physical units rather than dollars. Unit sales data are often used by financial analysts when evaluating the health of a company. and OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and business. The net loss for the quarter ended March 31, 1996 was $3,932,000, or $(0.62) per share on 6,380,000 weighted average shares, compared to a loss of $1,805,000 or $(0.52) per share on 3,473,000 weighted average shares, in the same period in 1995. The first quarter of 1996 reflects strong sales from Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the with an Accent(TM) and Accent Duo with Translation(TM) products released by the Company in the fourth quarter of 1995. Additionally, the Company began to realize a certain portion of revenues from certain OEM licensing agreements related to its Internet with an Accent product. Robert Robert, Henry Martyn 1837-1923. American army engineer and parliamentary authority. He designed the defenses for Washington, D.C., during the Civil War and later wrote Robert's Rules of Order (1876). Noun 1. Rosenschein, President and Chief Executive Officer, stated, "The first quarter was very challenging for us. Marketing efforts were focused in several directions consistent with our commitment to create Accent product recognition. We are beginning to see stronger package software orders, however, the nature of the software industry requires us to be cautious in recognizing revenue until sales results at the retail level can clearly be seen. We believe the sales momentum is continuing to get stronger. The first quarter recognizes initial OEM revenue from previously announced contracts. We are continuing to negotiate with several other potentially large customers for additional and new OEM relationships. We believe our technology and the related commitment to product awareness will result in long term success." The Company has scheduled a conference call to discuss the first quarter results on May 15, 1996 at 11:00 am DST (1) (DeSTination) Contrast with SRC, which is an abbreviation of "source." (2) (Digital Signal Trust Company, Salt Lake City, UT, www.digsigtrust.com) An organization that sets up and manages PKI systems for companies and industry groups. . Interested persons may join the conference by calling 312-864-5011. Accent Software International Ltd. designs and develops multilingual mul·ti·lin·gual adj. 1. Of, including, or expressed in several languages: a multilingual dictionary. 2. Internet and word processing word processing, use of a computer program or a dedicated hardware and software package to write, edit, format, and print a document. Text is most commonly entered using a keyboard similar to a typewriter's, although handwritten input (see pen-based computer) and software products for retail, corporate, educational, government and OEM customers, and markets these products in more than 30 countries. Founded in 1988, Accent Software International Ltd. is headquartered in Jerusalem, Israel. The Company also recently formed a new subsidiary, AgentSoft, Ltd., which focuses on the development and marketing of sophisticated agent software products for the Internet and enterprise Intranet. Accent, Internet with an Accent and Accent Duo with Translation are trademarks of Accent Software International Ltd. -0-
ACCENT SOFTWARE INTERNATIONAL LTD.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
(U.S. Dollars, in thousands, except for per share data)
For the Three Months Ended
March 31
1996 1995
Net Sales $ 2,843 $ 633 Operating Costs and Expenses: Cost of Sales 1,367 560 Product Development Costs, Net 648 235 Marketing Expenses 3,273 1,247 General & Administrative Expenses 1,480 280 Total Operating Costs and Expenses 6,768 2,322 Operating Loss (3,925) (1,689) Financing Expenses, Net 7 116 Net Loss $ (3,932) $ (1,805) Net Loss Per Share $ (.62) $ (.52) Weighted Average Number of Shares 6,380 3,473 CONTACT: ACCENT SOFTWARE INTERNATIONAL LTD. Mitchell Mitchell, city (1990 pop. 13,798), seat of Davison co., SE S.Dak.; inc. 1881. Mitchell is a trade, distribution, and shipping center for a dairy and livestock area. Joelson, Executive Vice President 011-972-2-793-723, ext. 244 Internet: Mitchell@accentsoft.com Norman Kreger, Director Corporate Communications Corporate communications is the process of facilitating information and knowledge exchanges with internal and key external groups and individuals that have a direct relationship with an enterprise. 011-972-2-793-723, ext. 243 Internet: Normank@accentsoft.com Michael Sondhelm, Controller 011-972-2-793-723, ext. 290 Internet: Michaels@accentsoft.com Home Page: http://www.accentsoft.com or WOLFE AXELROD Ax·el·rod , Julius 1912-2004. American biochemist and pharmacologist. He shared a 1970 Nobel Prize for studies of the ways in which different substances affect neural impulses. ASSOCIATES Mona J. Walsh Joel Herskovits Gordon H. Wolfe 212/370-4500 (fax) 212-370-4505 e-mail: 76015.440@compuserve.com |
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