Advanced Systems International Announces Second Quarter Financial Results.SOUTHFIELD, MI--(BUSINESS WIRE)--August 17, 1999-- Advanced Systems International ("ASI ASI, n See Anxiety Sensitivity Index. ") (NQB NQB National Quotation Bureau, Inc (now Pink Sheets) : ADSN ADSN Accounting & Disbursing Station Symbol Number ADSN Anti-Discrimination Support Network ADSN Accounting Disbursing Station Number ADSN Accounting and Disbursing Symbol Number ), a leading provider of enterprise software solutions, today reported second quarter 1999 revenues of $2.2 million. This is a 25% increase over the first quarter of 1999 and a 240% increase from Q2 1998. Net earnings for the most recent quarter were $375,353 ($0.03 per share), an increase of 23% over the previous quarter. Revenues for the first two quarters of 1999 were $3,964,637, a 312% increase over the same period last year with earnings of $681,695 ($0.06 per share). Gerry Pesut, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of ASI, said, "Our second quarter results demonstrate the growing acceptance of our ATServer(R) product line-- and ASI's ability to deliver value-added solutions to our customers as well as to implement and execute our business plan. During the reported period, ASI closed major contracts with Volvo, Johnson Controls Johnson Controls, Inc. (NYSE: JCI) is a United States company, based in Milwaukee, Wisconsin, specializing in the design, manufacturing, and installation of automotive systems, automotive batteries (Optima[1] based in Denver, Colorado) and climate control systems. and Imperial Tobacco. The company also completed installations at Peregrine, John Morrell & Co., Rolls Royce Rolls Royce the millionaire’s vehicle. [Trademarks: Brewer Dictionary, 928] See : Luxury Allison and Dana Corporation- Spicer Driveshaft Division. In addition, ASI entered a new vertical market with the implementation at Blandin Paper. We are pleased that some of our existing clients are contracting for additional multiple plant installations. "During this quarter," Pesut continued, "we started implementation of ASI's new ATLink(TM), a new windows based (1) (Windows-based; upper case "W") Refers to Microsoft Windows. (2) (windows-based; lower case "w") Having resizable windows. Same as "graphics based" or "GUI based." Graphical user interfaces are all windows based. Contrast with text based. data collection solution at Imperial Tobacco - initiating our thrust into the high-growth electronic commerce enabling market. We anticipate that growing ATLink sales will create an additional significant revenue stream for ASI." Pesut added that Advanced Systems International continues to be committed to growth and expansion. Growth strategies include on-going product development and positioning, continued strengthening of strategic relationships within the industry, and the addition of world class professionals to the company's management, staff, and board of directors. Advanced Systems International (ASI) is a leading supplier of mission critical application solutions for the enterprise-processing environment. Solutions include: the ATServer, time and attendance/labor allocation application, addresses the time collection and labor management needs of mid to large scale, client/server environments; and the ATLink, designed to support business to business electronic commerce, by enabling the collection, communication and integration of critical data on different platforms or operating systems Operating systems can be categorized by technology, ownership, licensing, working state, usage, and by many other characteristics. In practice, many of these groupings may overlap. . ASI's cost-effective, comprehensive product offering encompasses the application software, hardware, implementation services and on-going support necessary for rapid deployment of enterprise-wide distributed processing The first term used to describe the distribution of multiple computers throughout an organization in contrast to a centralized system. It started with the first minicomputers. Today, distributed processing is called "distributed computing." See also client/server. . Key markets include: automotive, automotive supply, packaged goods Noun 1. packaged goods - groceries that are packaged for sale foodstuff, grocery - (usually plural) consumer goods sold by a grocer plural, plural form - the form of a word that is used to denote more than one , pharmaceuticals, paper products, food processing Food processing is the set of methods and techniques used to transform raw ingredients into food for consumption by humans or animals. The food processing industry utilises these processes. and other manufacturing industries. The company markets its products through direct sales and in conjunction with strategic partners.
Three Months Ended Six Months Ended
June 30, June 30,
1999 1998 1999 1998
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Sales $ 2,202,377 $ 647,312 $ 3,964,637 $ 961,313
Cost of Sales 283,750 48,589 402,584 75,201
---------------------------------------------
Gross Profit 1,918,627 598,723 3,562,053 886,112
Operating Expenses
Sales & Marketing 423,359 158,650 835,885 311,247
Research &
Development 304,615 55,242 407,096 114,434
General &
Administrative* 732,724 377,658 1,539,680 764,436
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Earnings/(Loss) From
Operations 457,928 7,172 779,392 (304,006)
Other Expense
82,575 28,124 97,698 59,446
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Interest Expense 82,575 28,124 97,698 59,446
Net Earnings/(Loss) $375,353 $ (20,951) $ 681,695 $(363,451)
===========================================
Earnings/(Loss) Per
Share - basic $ 0.03 $ - $ 0.06 $ (0.04)
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* General & Administrative includes implementation/customer
support costs.
In conjunction with the provisions of the new "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " section of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995, this news release may contain forward-looking statements pertaining to future anticipated projected plans, performance and developments, as well as other statements relating to future operations. All such forward-looking statements are necessarily only estimates of future results and there can be no assurance that actual results will not materially differ from expectations. Further information on potential factors that could affect Advanced Systems International, Inc. is included in the company's Form 10 filed with the Securities and Exchange Commission |
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