Applied Cellular Technology Inc. reports third-quarter earnings of 3 cents per share, vs. a loss of 12 cents per share.NIXA, Mo.--(BUSINESS WIRE)--Nov. 15, 1995--Applied Cellular Technology Inc. (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 :ACTC ACTC Apple Certified Technical Coordinator ACTC Almaden Cycle Touring Club ACTC Associated Colleges of the Twin Cities ACTC All Ceylon Tamil Congress (Sri Lanka) ACTC Association Canadienne de Télévision par Câble ) reported net income of $59,957, or 3 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , on revenues of $696,335 for the third quarter of 1995, vs. a loss of $77,340, or 12 cents per share, on revenues of $49,865 in the comparable preceding-year reporting period. Weighted average shares outstanding increased to 1,947,407, vs. 638,802 on a comparable-quarter basis. Nine-month net income for the year was reported at $237,155, or 15 cents per share, on revenues of $1,128,833, vs. a loss of $314,307, or 51 cents per share, on revenues of $272,493. Weighted average shares outstanding were 1,632,033, vs. 615,844 over this comparable reporting period. Total assets increased by 63 percent to $8,782,846, vs. $5,392,202 at the end of the second quarter 1995. Total stockholders equity increased by 51 percent to $7,661,346, vs. $5,073,041 at the end of the second quarter 1995. Book value was reported at $3.39 per share on total shares outstanding of 2,258,576. In reviewing the results of the third quarter, company Chairman and Chief Executive Officer Richard J. Sullivan stated: "We have continued to show strong earnings growth momentum quarter to quarter. Our third-quarter results were very impressive, with revenues increasing by 232 percent, and operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. increasing by 1,445 percent quarter to quarter. Net income improved appreciably ap·pre·cia·ble adj. Possible to estimate, measure, or perceive: appreciable changes in temperature. See Synonyms at perceptible. also by 300 percent to $59,554 quarter to quarter. This increase resulted even though we did not book significant income from our equity interest ($58,679 in second quarter 1995), assumed accelerated goodwill and software amortization of $120,000 and had a minority interest expense of $45,445. "On a year-to-date Year-to-date (YTD) The period beginning at the start of the calendar year up to the current date. basis, revenues have increased by 314 percent to $1,128,833, and will continue to grow. In addition, strong cash flow and equity strength enabled the company to retire all preferred shares Preferred shares Preferred shares give investors a fixed dividend from the company's earnings and entitle them to be paid before common shareholders. See: Preferred stock. outstanding (par value $200,000) and complete three additional acquisitions. We anticipate that our fourth quarter will show continued improvement in all sectors, and will maintain our commitment to increasing shareholder value through internal and external growth." CONTACT: REOVEST Inc. Bob Oberndorf, 303/642-0073 |
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