ACT Teleconferencing Announces First Quarter 2006 Results.DENVER -- ACT Teleconferencing, Inc. (Pink Sheets:ACTT ACTT n abbr (BRIT) (= Association of Cinematographic, Television and Allied Technicians) → sindicato de técnicos de cine y televisión ), an independent worldwide provider of audio, video and web-based conferencing products and services, today announced its operating results for the first quarter of 2006. Net revenue for first quarter 2006 totaled $12.6 million compared to $13.0 million for the same period last year. First quarter 2006 net loss was reduced to $(489,000) from last year's first quarter net loss of $(2) million. Earnings per share also improved to $(0.10) compared to $(0.12) for first quarter of the prior year. In February, the Company completed the sale of an additional 79,600 shares of Series AA Preferred Stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. . The $7.9 million in proceeds completely satisfied the bridge loan from Dolphin Direct Equity Partners, LP. ACT Teleconferencing Chief Executive Officer Gene Warren Gene Warren, Sr. (born 12 August 1916) won an Academy Award for the special effects on George Pal's The Time Machine in 1960. He also contributed to such projects as Land of the Lost, The Man From Atlantis and The Crow: City of Angels. commented: "We are making progress toward strengthening our capital structure. We also expect that our restructuring and productivity improvement efforts will help us to continue to improve operating results." Later today, the Company will file a 10-Q with the Securities and Exchange Commission. Statements made in this news release that are not historical facts may be forward-looking statements. Actual results may differ materially from those projected in any forward-looking statement. Unaudited information may not conform to Verb 1. conform to - satisfy a condition or restriction; "Does this paper meet the requirements for the degree?" fit, meet coordinate - be co-ordinated; "These activities coordinate well" U.S. GAAP GAAP See: Generally Accepted Accounting Principles GAAP See generally accepted accounting principles (GAAP). . Important factors that could cause actual results to differ materially from those anticipated by any forward-looking information include, but are not limited to, future economic conditions, competitive services and pricing, new competitor entry, financing, the delivery of services under existing contracts and other factors. For a more detailed description of the factors that could cause such a difference, please see the section entitled "Risk Factors" under the heading "Management's Discussion and Analysis Management's discussion and analysis (MD&A) A report from management to shareholders that accompanies the firm's financial statements in the annual report. It explains the period's financial results and enables management to discuss topics that may not be apparent in the financial of Financial Condition and Results of Operations" in ACT's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 2005, as well as the Company's other filings with the Securities and Exchange Commission. ACT disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. This information is presented solely to provide additional information to further understand the results of ACT. About ACT Teleconferencing Established in 1990, ACT Teleconferencing, Inc. is a leading independent worldwide provider of audio, video and web-based conferencing products and services to corporations, educational organizations, and governments worldwide. ACT is the only conferencing company with integrated global audio and videoconferencing platforms that provide uniform international services, customized uniform billing, managed services An umbrella term for third-party monitoring and maintaining of computers, networks and software. The actual equipment may be inhouse or at the third-party's facilities, but the "managed" implies an ongoing effort; for example, making sure the equipment is running at a certain quality , and local language services. The Company's headquarters are located in Denver, Colorado, with operations in Australia, Belgium, Canada, France, Germany, Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. , Singapore, the U.K. and the U.S., and virtual locations in Japan, China, Taiwan, Indonesia, Spain, Sweden, Switzerland, Russia, Poland and South Africa. ACT's Internet address is www.acttel.com. |
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