Advanced Remote Communication Solutions -- ARCOMS -- Announces Results for Year End Dec. 31, 1999.Business Editors SAN DIEGO--(BUSINESS WIRE)--March 31, 2000 Advanced Remote Communication Solutions (ARCOMS ARCOMS Armor Combat Operations Model Support ), formerly Boatracs Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :BTRK), today reported total revenues of $14,295,000 for the year ended Dec. 31, 1999, compared to total revenues of $10,173,000 for the prior year, an increase of 41 percent. Research and development expenditures in 1999 increased by $891,000 which contributed to a net loss for the year ended Dec. 31, 1999, of $926,000 or $.05 per share, compared to net income of $389,100 or $.02 per share for the prior year. Earnings before interest, taxes, depreciation and amortization Earnings before interest, taxes, depreciation and amortization (EBITDA) is a non-GAAP metric that can be used to evaluate a company's profitability.
"This year's strategy focused on substantial investments in research and development which we feel confident will provide a launch pad for our continued growth and success. In addition, the ICTI ICTI International Council of Toy Industries ICTI Interactive Clinical Technologies, Inc. ICTI Information and Communication Technology Institute (Afghanistan) acquisition will be one of the keys to the future of ARCOMS. ICTI brings to ARCOMS both outstanding personnel and state-of-the-art products," stated Michael Silverman, chairman and chief executive officer of ARCOMS. "As a company poised for growth, we have expanded our in-house capabilities and increased staff in a number of key management positions." About ARCOMS Advanced Remote Communication Solutions is a global technology company delivering innovative and proprietary solutions to customers in specific markets for their remote information needs through its various business entities: Boatracs, Enerdyne Technologies Inc., and Innovative Communications Technologies Inc. (ICTI). ARCOMS' products and services include customized software See custom software. applications; cost-effective satellite communications solutions; near real-time vessel tracking; bandwidth-efficient, multimedia satellite networks; e-mail technology; state-of-the-art, real-time video compression Encoding digital video to take up less storage space and transmission bandwidth. See video codec and data compression. video compression - Compression of sequences of images. products; multiplexing equipment; and video monitoring services Video Monitoring Services (VMS) [1] is a media monitoring company that provides news and advertisements monitoring solutions. The company is headquartered in New York with more than 18 offices in the United States. . ARCOMS' client base includes users within the government, transportation, military, marine, telecommunications, and commercial markets. Headquartered in San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , ARCOMS has offices in Santee, Calif.; Gulfport, Miss.; Gaithersburg, Md.; and Leiden, the Netherlands. For more information about ARCOMS and its business units, visit www.arcoms.com. Legal Disclosure Statements within this news release which are not historical facts, including statements about strategies and expectations for new and existing products, technologies, and opportunities are forward-looking statements that involve risks and uncertainties. Because such forward-looking statements include risks and uncertainties, actual results may differ materially from those expressed in or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, those set forth in the risk factors identified in the company's Securities and Exchange Commission filings, particularly its Form 10-KSB for the year ended 12/31/99. The company undertakes no obligation to release publicly any revisions to the forward-looking statements to reflect events or circumstances after the date of this news release or to reflect the occurrence of unanticipated events. |
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