Altris Software Announces Third Quarter 2001 Results; License Revenue More Than Triples.Business Editors SAN DIEGO--(BUSINESS WIRE)--Aug. 13, 2001 Altris Software, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ALTS ALTS Association for Local Telecommunications Services ALTS Aarhus Lawn Tennis Selskab (Denmark) ALTS Annotated Labeled Transition System ALTS Analogue Line Terminating Subsystem ALTS Automatic Laser Tracking System ) today reported results of operations for its fiscal third quarter ended June June: see month. 30, 2001. Total revenues for the three and nine months ended June 30, 2001, were $3.1 million and $9.3 million, respectively, compared to $1.7 million and $5.0 million for three and nine months ended June 30, 2000. Altris reported a net loss for the three months ended June 30, 2001, of $94,000 or $(0.00) per share compared to a net loss of $340,000 or $(0.00) per share for the three months ended June 30, 2000. For the nine months ended June 30, 2001, the company reported a net loss of $56,000 or $(0.00) per share, compared to a net loss of $1.5 million or $(0.11) per share for the nine months ended June 30, 2000. 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.
Recorded in asset accounts and then depreciated or amortized, as is appropriate for expenditures for items with useful lives longer than one year. software costs that totaled $304,000 and $893,000 for the three and nine months ended June 30, 2001, compared to $257,000 and $1,226,000 for the corresponding periods in the prior year. Carl Mostert, Altris' chief executive officer, stated, "The Company achieved significant revenue growth compared to the prior year with improved operating results despite a difficult economic environment. We anticipate that the current slowdown For articles with similar titles, see Slow Down (disambiguation). A slowdown is an industrial action in which employees perform their duties but seek to reduce productivity or efficiency in their performance of these duties. in the software market will impact orders over the next two quarters. However, we believe with a continued investment in marketing and sales while also leveraging the benefits of Spescom Ltd.'s international market presence, we are well positioned to achieve our growth targets in 2002 and move toward our strategic objective of becoming a leader in the document and configuration management industry." Based 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. , Calif., Altris Software which recently announced plans to change its name to Spescom Software Inc., delivers enterprise-wide document management software to its customers around the world. 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. Statement Except for historical information contained herein, the matters set forth in this release include forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that are dependent on certain risks and uncertainties, including such factors, among others, as market acceptance, market demand, pricing, changing regulatory reg·u·late tr.v. reg·u·lat·ed, reg·u·lat·ing, reg·u·lates 1. To control or direct according to rule, principle, or law. 2. environment, the effect of the company's accounting policies, potential seasonality and other risk factors detailed in the company's SEC filings.
ALTRIS SOFTWARE, INC.
Consolidated Statements of Operations
(Unaudited)
For the three months For the nine months
ended June 30, ended June 30,
------------------------ ------------------------
2001 2000 2001 2000
---- ---- ---- ----
Revenues:
Licenses $ 1,749,000 $ 440,000 $ 4,617,000 $ 1,093,000
Services and
other 1,385,000 1,246,000 4,727,000 3,916,000
----------- ----------- ----------- -----------
Total revenues 3,134,000 1,686,000 9,344,000 5,009,000
----------- ----------- ----------- -----------
Cost of revenues:
Licenses 272,000 273,000 1,067,000 843,000
Services and
other 960,000 695,000 2,949,000 2,103,000
----------- ----------- ----------- -----------
Total cost of
revenues 1,232,000 968,000 4,016,000 2,946,000
----------- ----------- ----------- -----------
Gross profit 1,902,000 718,000 5,328,000 2,063,000
----------- ----------- ----------- -----------
Operating
expenses:
Research and
development 516,000 461,000 1,455,000 1,392,000
Marketing and
sales 1,063,000 402,000 2,959,000 1,031,000
General and
administrative 426,000 160,000 1,137,000 914,000
----------- ----------- ----------- -----------
2,005,000 1,023,000 5,551,000 3,337,000
----------- ----------- ----------- -----------
Loss from
operations (103,000) (305,000) (223,000) (1,274,000)
Gain on sale of
interest in
subsidiary -- -- 125,000 75,000
Interest and other
income 16,000 23,000 54,000 36,000
Interest and other
expense (7,000) (58,000) (12,000) (354,000)
----------- ----------- ----------- -----------
Net loss $ (94,000) $ (340,000) $ (56,000) $(1,517,000)
============ ============ ============ ============
Basic net loss per
common share $ (0.00) $ (0.00) $ (0.00) $ (0.11)
============ ============ ============ ============
Diluted net loss
per common share $ (0.00) $ (0.00) $ (0.00) $ (0.11)
============ ============ ============ ============
Shares used in
computing basic
net loss per
common share 30,842,000 24,812,000 30,776,000 16,598,000
============ ============ ============ ============
Shares used in
computing diluted
net loss per
common share 30,842,000 24,812,000 30,776,000 16,598,000
============ ============ ============ ============
ALTRIS SOFTWARE, INC.
Consolidated Balance Sheet
June 30, Sept. 30,
2001 2000
------------ -----------
(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents $ 628,000 $ 1,808,000
Receivables, net 848,000 498,000
Other current assets 382,000 173,000
------------- ------------
Total current assets 1,858,000 2,479,000
Property and equipment, net 329,000 332,000
Computer software, net 2,452,000 3,209,000
Other assets 76,000 20,000
------------- ------------
Total assets $ 4,715,000 $ 6,040,000
============= ============
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable $ 1,503,000 $ 1,287,000
Accrued liabilities 1,208,000 1,050,000
Deferred revenue 2,036,000 2,347,000
------------- ------------
Total current liabilities 4,747,000 4,684,000
Deferred revenue, long term
portion -- 1,122,000
------------- ------------
Total liabilities 4,747,000 5,806,000
------------- ------------
Shareholders' Equity:
Common stock, no par value,
40,000,000 shares
authorized; 30,841,920 and
30,291,565 issued and
outstanding, respectively 73,843,000 74,025,000
Common stock warrants 718,000 718,000
Accumulated other
comprehensive income (31,000) (3,000)
Accumulated deficit (74,562,000) (74,506,000)
------------- ------------
Total shareholders' equity (32,000) 234,000
------------- ------------
Total liabilities and
shareholders' equity $ 4,715,000 $ 6,040,000
============= ============
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