Apertus Technologies Announces First Quarter Results.EDEN PRAIRIE Eden Prairie A city of eastern Minnesota, a residential suburb of Minneapolis. Population: 57,300. , Minn.--(BUSINESS WIRE)--July 23, 1998-- Restructured Company Progress Continues Apertus Technologies Incorporated (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :APTS APTS Alexandra Palace Television Society (UK) APTS Advanced Public Transportation System APTS Austin Presbyterian Theological Seminary (Texas) APTS Association of America's Public Television Stations ) announced the results of its first quarter of Fiscal Year 1999 ending June June: see month. 28, 1998 showing revenues of $1.32 million and a net loss of $(.10) per share. These results compare to revenues of $279 thousand and a net loss of $(.04) per share in the previous year. The Company's balance sheet still reflects $11.2 million of working capital, including $9.6 million of cash. "Apertus made strong progress during the quarter as a newly created data warehousing See data warehouse. data warehousing - data warehouse company. While the revenue was below our expectations, we won new license business with customers like the Virginia Department of Transportation The Virginia Department of Transportation (VDOT) is the government agency responsible for building, maintaining and operating Virginia's roads, bridges and tunnels. It is overseen by the Commonwealth Transportation Board, which has the power to fund airports, seaports, rail , 3M and Charles Schwab Charles Schwab can refer to:
American army engineer and parliamentary authority. He designed the defenses for Washington, D.C., during the Civil War and later wrote Robert's Rules of Order (1876). Noun 1. D. Gordon Gordon, river in W Tasmania, Australia, 125 mi (200 km) long. Flowing from mountains to the W coast, its main tributaries are the Franklin and Denison from the N, and Serpentine and Olga to the S. , Chairman, Chief Executive Officer and President of Apertus Technologies Incorporated. "Demand for implementation services continued to be strong, including projects at organizations like Federal Express, Cargill, Ameritech, Health Management Systems and Bestfoods. "The focus of the Company subsequent to its restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). in November, 1997, has been on building a foundation for growth through creating strong reference accounts, proven products and services, and brand image and awareness," added Mr. Gordon. "With substantial progress in these dimensions, our focus is now shifting to building sales momentum through expanding our sales force, broadening our business partner alliance programs and increasing our marketing promotion." Name and Identity Change The Company will be changing its name to Carleton Corporation effective August 1, 1998, pending approval at its shareholders meeting being held today. The NASDAQ Symbol will become CARL effective August 1, 1998. The Company is planning to move its corporate facilities from 7275 Flying Cloud The Flying Cloud of 1851 was the most famous of the extreme clippers built by Donald McKay in East Boston, Massachusetts, intended for Enoch Train of Boston, who paid $50,000 for her construction. Drive, Eden Prairie, Minnesota The creator of this article, or someone who has substantially contributed to it, may have a conflict of interest regarding its subject matter. It may require cleanup to comply with Wikipedia's content policies, particularly neutral point of view. 55344 to 10729 Bren Road East, Minnetonka, Minnesota For other uses, see Minnetonka (disambiguation). Minnetonka is a suburban community located eight miles west of Minneapolis in Hennepin County. Its 2000 population of 51,480 makes it the fourteenth largest city in Minnesota. 55343 at the end of September 1998. As announced previously, the Company has adopted a new tag line tag line also tag·line n. 1. An ending line, as in a play or joke, that makes a point. 2. An often repeated phrase associated with an individual, organization, or commercial product; a slogan. Noun 1. , "Pure data Pure results" to reflect its focus and commitment to become a dominant provider of data integration solutions for business critical applications. The information in this press release contains 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 involve risks. Carleton cautions readers that actual results could differ materially from results suggested by these statements. Factors that could cause actual results to differ are discussed in the Company's annual report or Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for year ended March 29, 1998. About Apertus Technologies Incorporated Apertus Technologies Incorporated (dba Carleton) provides rapid data integration solutions for business critical applications, such as data warehousing and application conversions. The Company markets its products and services to Fortune 1000 clients in industries such as financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , insurance, health care, and manufacturing. Headquartered in Eden Prairie, Minnesota, Carleton distributes its technology and consulting services Noun 1. consulting service - service provided by a professional advisor (e.g., a lawyer or doctor or CPA etc.) service - work done by one person or group that benefits another; "budget separately for goods and services" through direct sales and channel partners worldwide. For more information, call 800-328-3998, send e-mail to info@carleton.com, or visit Carleton's Web site at http://www.carleton.com. [See Accompanying Financial Statement] All brand names and product names are trademarks or registered trademarks of their respective companies. -0-
CONSOLIDATED STATEMENTS
OF OPERATIONS
(Dollars in Thousands, Except Per Share Amounts)
Three Months Ended
--------------------------------
Jun 28, Jun 29,
1998 1997
--------------------------------
Revenues
Sales $915 $191
Service 407 88
--------------------------------
Total 1,322 279
Costs and Expenses
Cost of revenues 626 439
Research, development
and engineering 961 489
Selling, general
and administrative 1,508 931
--------------------------------
Total 3,095 1,859
--------------------------------
Loss from operations (1,773) (1,580)
Investment income 152 127
Interest expense and other (16) 3
--------------------------------
Loss from continuing
operations before
income taxes (1,637) (1,450)
Income taxes 0 2
--------------------------------
Net loss from continuing operations (1,637) (1,452)
Discontinued operations:
Income from operations of
discontinued
Internet Solutions Division 0 925
--------------------------------
Net Loss ($1,637) ($527)
================================
Income (Loss) per Share:
Continuing Operations ($0.10) ($0.10)
Discontinued Operations 0.00 0.06
--------------------------------
Total ($0.10) ($0.04)
================================
Weighted Average
Shares Outstanding 16,615 14,159
================================
CONSOLIDATED BALANCE SHEET
(Dollars in Thousands)
(Unaudited)
June 28, March 29,
1998 1998
-------------------------------------
ASSETS
Current Assets
Cash and cash equivalents $9,406 $11,111
Cash in escrow 181 730
Accounts receivable - net 1,450 1,517
Other 165 76
-------------------------------------
Total current assets 11,202 13,434
Property and equipment 4,675 4,649
Accumulated depreciation (3,362) (3,256)
-------------------------------------
-------------------------------------
Property and equipment - net 1,313 1,393
-------------------------------------
$12,515 $14,827
=====================================
LIABILITIES AND
SHAREHOLDERS' EQUITY
Current Liabilities
Accounts payable $203 $319
Accrued expenses 2,357 3,067
Deferred revenue 935 809
Note payable 1,000 1,000
-------------------------------------
Total current liabilities 4,495 5,195
Long-term Notes Payable 598 602
Shareholders' Equity
Common stock - authorized, 30,000,000
shares at $.05 par value;
issued and outstanding at
June 28, 1998 - 16,686,031 shares;
March 29, 1998 - 16,526,815 shares 834 826
Additional paid-in capital 62,744 62,723
Retained deficit (56,156) (54,519)
-------------------------------------
Total shareholders' equity 7,422 9,030
-------------------------------------
Total $12,515 $14,827
=====================================
CONTACT: Apertus Technologies Investor Relations Investor relations The process by which the corporation communicates with its investors. : Don McIlwain (612) 828-0311, don.mcilwain@apertus.com |
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