AW Computer Systems reports third quarter results.MOUNT LAUREL, N.J.--(BUSINESS WIRE)--Nov. 15, 1996--AW Computer Systems Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : AWCSA) today reported that the operations for the third quarter ended Sept. 30, 1996 resulted in a net loss of $(950,576), or $(.17) per share, compared to a net loss of $(572,296), or $(.14) per share, for the same period in 1995. Nine months revenues were $714,462 compared to $3,131,765 in the same period last year. The company reported a nine month net loss of $(2,917,338) or $(.58) per share, compared to a net loss of $(1,413,089), or $(.34) per share, in the comparable period last year. Commenting on the report, management noted the financial results reflect the continuing cost of development of the company's new product, the Checker check·er n. 1. a. One, such as an inspector or examiner, that checks. b. One that receives items for temporary safekeeping or for shipment: a baggage checker. 2. Productivity Analyzer analyzer /ana·ly·zer/ (an´ah-li?zer) 1. a Nicol prism attached to a polarizing apparatus which extinguishes the ray of light polarized by the polarizer. 2. ("CPA (Computer Press Association, Landing, NJ) An earlier membership organization founded in 1983 that promoted excellence in computer journalism. Its annual awards honored outstanding examples in print, broadcast and electronic media. The CPA disbanded in 2000. ") and the initial marketing expenses of its other new product, the Wizard/Tutor. Several noteworthy events transpired during and subsequent to the September 30th quarter. In late September, following the restructuring of the board of directors, the company raised in excess of $1.6 million of new equity. These funds provided the necessary working capital to support operations and market the company's newest product, Wizard, and complete CPA. The latter is scheduled for completion in the first quarter of 1997. Importantly, the Wizard entered into another pilot this month with a second national retail chain at that company's headquarters location. It is anticipated that additional pilots with this and other national retailers will be in place by year-end. On Oct. 25, 1996, the company extended the period for repayment of the outstanding bank debt in the amount of $570,368 from Dec. 31, 1996 to Dec. 31, 1997. Since 1973, AW Computer Systems Inc. has provided point-of-sale systems solutions to such major retailers as Winn-Dixie Stores Inc.; The Kroger Company; Albertson's Inc; Federated Connected and treated as one. See federated database and federated directories. Department Stores This is a list of department stores. In the case of department store groups the location of the flagship store is given. This list does not include large specialist stores, which sometimes resemble department stores. ; Ames Department Stores; Macy's; Safeway Stores; Bi-Lo, Inc.; Wal-Mart; Caldor, Inc., and The Hudson's Bay Company Hudson's Bay Company, corporation chartered (1670) by Charles II of England for the purpose of trade and settlement in the Hudson Bay region of North America and for exploration toward the discovery of the Northwest Passage to Asia. in Canada. Headquartered in Mount Laurel, New Jersey, AW is a Business Partner with the IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) Corp., a Solution Partner with NCR (NCR Corporation, Dayton, OH, www.ncr.com) A technology company specializing in financial terminal transactions, retail systems and data warehousing. Until the late 1990s, NCR was heavily invested in the hardware side of the industry, known worldwide as a major manufacturer of computers Corp., a Microsoft(R) Solution Provider, and is cooperating with Fujitsu-ICL Systems, Inc. in providing point-of-sale compatibility solutions to major retailers. -0-
AW Computer Systems Inc.
Condensed Financial Results
Three and Nine Months Ended September 30,
Three Months Nine Months
1996 1995 1996 1995
Revenues $ 238,470 $ 878,317 $ 714,462 $ 3,131,765
Net (loss) $(950,576) $(572,296) $(2,917,338) $(1,413,089)
Net (loss)
per share $ (.17) $ (0.14) $ (.58) $ (0.34)
Average shares
outstanding 5,734,306 3,989,957 5,072,448 4,109,813
September 30, December 31,
1996 1995
Current Assets $ 2,091,344 $ 2,808,548
Total Assets $ 3,405,476 $ 3,894,253
Current
Liabilities $ 1,052,746 $ 1,663,997
Shareholders
Equity $ 1,612,349 $ 2,086,456
CONTACT: PDA (Personal Digital Assistant) A handheld computer for managing contacts, appointments and tasks. It typically includes a name and address database, calendar, to-do list and note taker, which are the functions in a personal information manager (see PIM). Associates, 201/543-4002 |
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