AM Communications Announces Second Quarter Fiscal 2000 Results.QUAKERTOWN, Pa.--(BUSINESS EDITORS)--Nov. 15, 1999-- AM Communications, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :AMCM AMCM Airborne Mine Countermeasures AMCM Autoridade Monetaria de Macau (Monetary and Foreign Exchange Authority of Macau, China) AMCM Advanced Missions Cost Model AMCM Air Mission Coordination Meeting AMCM Advanced Mine Countermeasures ) announces the financial results for the second quarter and first six months of its fiscal year 2000 ended October October: see month. 2, 1999. Revenues for the second quarter of fiscal 2000 were $2.1 million, compared to $2.4 million reported for the second quarter of fiscal 1999. The Company reported a net loss of $289,000 during the recent quarter, compared to a net loss of $609,000 in the comparable period in fiscal 1999. Revenues for the six months ended October 2, 1999 were $4.2 million, down 14% from the $4.9 million reported in the comparable period a year ago. Net loss was $848,000 for the six months ended October 2, 1999, compared to a net loss of $1.2 million in the comparable period a year ago. Commenting on the results, Keith Keith may refer to: People with the given name Keith:
tr.v. con·strained, con·strain·ing, con·strains 1. To compel by physical, moral, or circumstantial force; oblige: felt constrained to object. See Synonyms at force. 2. our spending so that we are now operating at very close to cash break-even levels. We are very pleased with our accomplishments during the quarter which have included the following: - "We successfully completed our new Omni2000 Monitoring Software platform and our new Omni2000 Ingress An entrance. Contrast with "egress," which means exit. See ingress traffic. See also Ingres 2006. Management System. Both of these products commenced shipping in September September: see month. 1999 and are being positively received by customers. - "We have dramatically improved our manufacturing cost structure by fulfilling more of our product requirements using our NeST (Network Systems & Technologies Ltd.) offshore manufacturing partner. As a result, 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 increased from 43% in the first six months of fiscal 1999 to 51% in the first six months of fiscal 2000. Using this model, we believe AM can be the lowest cost provider of monitoring systems in the industry. - "We've we've Contraction of we have. we've have introduced several new transponders for Antec ANTEC Annual Technical Conference (plastics engineers) ANTEC Antarctic Neotechtonics (Scientific Committee on Antarctic Research) and Scientific Atlanta Atlanta (ətlăn`tə, ăt–), city (1990 pop. 394,017), state capital and seat of Fulton co., NW Ga., on the Chattahoochee R. and Peachtree Creek, near the Appalachian foothills; inc. 1847. products further expanding the AM realm of offerings. - "We signed a licensing agreement with Scientific Atlanta allowing us to exchange network protocols for network and status monitoring systems. This will provide AM the ability to expand its head-end monitoring solutions to support Scientific Atlanta equipment. - "Our expanded marketing efforts are generating new interest in the Omni2000 Monitoring Software and Ingress Management System platforms which have been introduced. Among other major opportunities in Europe Europe (y  r`əp), 6th largest continent, c.4,000,000 sq mi (10,360,000 sq km) including adjacent islands (1992 est. pop. 512,000,000). , we have recently announced thatMediaReseaux has selected AM to provide network management and monitoring solutions for their operations in France. "Our current focus is to expand our sales activities and increase revenues and the efforts are showing positive results as backlog Backlog The total value of sales orders waiting to be fulfilled. Notes: This figure is used mainly in the manufacturing industry. Increases or decreases in a company's backlog indicate the future direction of sales and earnings. has increased from $2 million at quarter end to over $3 million as of November 12, 1999. We believe that our new product platforms greatly enhance our ability to compete. We also believe that the NeST/AM strategic partnership will continue to provide the technical and financial support needed to enable AM to re-establish itself as a leader in broadband broadband Term describing the radiation from a source that produces a broad, continuous spectrum of frequencies (contrasted with a laser, which produces a single frequency or very narrow range of frequencies). network management systems," concluded Mr. Schneck. AM Communications is a provider of plant and headend management solutions for the CATV (Community Antenna TV) The original name for cable TV. It used a single antenna at the highest location in the community in order to deliver a quality signal to homes in areas with hilly terrain or other interference. broadband industry. Our systems provide network operators with greater control over their network's performance levels and reliability, giving them a competitive edge in today's deregulated communications environment. Through our partnerships, AM Communications has emerged as a true open systems company capable of supporting multi-vendor networks through cooperative engineering. AM provides system solutions through its 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 partnerships with industry leaders (i.e. General Instrument, Philips Broadband Networks  This article or section needs copy editing for grammar, style, cohesion, tone and/or spelling.You can assist by [ editing it] now. , and Scientific Atlanta) and directly to end user customers. Registered under ISO- iso- or is- pref. 1. Equal; uniform: isobar. 2. Isomeric: isopropyl. 3. 9001, AM's 25+ years of quality, dependability dependability - software reliability , and service are key to designing, building, and implementing management solutions for the Hybrid-Fiber Coax (HFC 1. (networking) HFC - Hybrid Fiber Coax. 2. (hardware) HFC - hydrofluorocarbon. ) network. Visit us at www.amcomm.com (c) Copyright 1999 AM Communications, Inc. The AM logo is a registered trademark of AM Communications, Inc. The OmniStat and Omni2000 names are trademarks of AM Communications, Inc. -0-
AM COMMUNICATIONS, INC.
Condensed Statements of Operations ($000)
-----------------------------------------
Unaudited Three Months Ended Six Months Ended
Oct. 2, Sept. 26, Oct 2., Sept. 26,
1999 1998 1999 1998
--------- --------- --------- ---------
Revenues $ 2,126 $ 2,415 $ 4,169 $ 4,853
Cost of Sales 966 1,500 2,032 2,775
Selling, General &
Administrative 639 610 1,272 1,359
Research and Development 791 912 1,678 1,952
--------- --------- --------- ---------
Operating Loss (270) (607) (813) (1,233)
Net Loss $ (289) $ (609) $ (848) $(1,234)
========= ========= ========= =========
Basic Net Loss Per Share $ (0.01) $ (0.02) $ (0.03) $ (0.04)
========= ========= ========= =========
Diluted Net Loss Per Share $ (0.01) $ (0.02) $ (0.03) $ (0.04)
========= ========= ========= =========
Shares Used in Computation
of Basic Net Loss Per
Share 32,270 31,072 31,739 31,072
========= ========= ========= =========
Shares Used in Computation
of Diluted Net Loss Per
Share 32,270 31,072 31,739 31,072
========= ========= ========= =========
Condensed Balance Sheets ($000)
-------------------------------
Oct. 2, April 3,
1999 1999
----------- ----------
(Unaudited) (Audited)
Cash $ 20 $ 24
Accounts Receivable 1,333 1,489
Inventory 1,382 1,218
Prepaid Expenses and Other 275 85
-------- --------
Total Current Assets 3,010 2,816
Equipment and Fixtures, Net 261 396
Other Assets 18 16
-------- --------
Total Assets $ 3,289 $ 3,228
======== ========
Current Portion of Capitalized Leases $ 9 $ 38
Current Portion of Notes Payable 30 30
Bank Line of Credit 750 625
Accounts Payable 890 1,163
Accrued Expenses 982 889
-------- --------
Total Current Liabilities 2661 2,745
-------- --------
Capitalized Leases - Long Term 4 --
Notes Payable - Long Term 120 120
Senior Convertible Preferred Stock 2,583 2,583
Stockholders' Equity (Deficit) (2,079) (2,220)
-------- --------
Total Liabilities and
Stockholders' Equity $ 3,289 $ 3,228
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