Applied Digital Solutions Reports Sharp Increase in Revenues and EBITDA for the First Quarter of 2000; Revenues Jumped 65%, to $85.2 Million, While EBITDA Soared 550% to $0.9 Million.Business Editors PALM BEACH, Fla.--(BUSINESS WIRE)--May 15, 2000 Company benefits from reorganization and brand-building efforts designed to position Applied Digital as a leading provider of integrated e-business (Electronic-BUSINESS) Doing business online. The term is often used synonymously with e-commerce, but e-business is more of an umbrella term for having a presence on the Web. solutions Applied Digital Solutions, 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 : ADSX ADSX Applied Digital Solutions, Inc. (stock symbol) ) today reported revenue growth of 65% for the three months ended March 31, 2000, bringing revenues to $85.2 million compared with $51.6 million reported for same period in 1999. EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become increased 550% to $0.9 million for the first quarter of 2000 from $(0.2) million for the first quarter of 1999. Cash loss improved 62% to $(0.5) million in the first quarter of 2000 from $(1.3) million for the same period in 1999. Cash loss per share, on a fully diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. basis, was $(0.01) in the 2000 period compared to $(0.03) in the 1999 period. Commenting on the Company's first-quarter performance, Applied Digital's Chairman 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. Richard Ri·chard , Joseph Henri Maurice Known as "Rocket." 1921-2000. Canadian hockey player. A right wing for the Montreal Canadiens (1942-1960), he led his team to eight Stanley Cup championships and was the first player to score 50 goals in a J. Sullivan said: "We're we're Contraction of we are. we're we are extremely pleased with our continued strong revenue and EBITDA growth. These results are in line with our key financial objectives as we continue to invest in ways that position the Company for future growth. We've succeeded in aligning a·lign v. a·ligned, a·lign·ing, a·ligns v.tr. 1. To arrange in a line or so as to be parallel: align the tops of a row of pictures; aligned the car with the curb. our four core business groups - Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the , Telephony Meaning "sound over distance," it refers to electronically transmitting the human voice. In the beginning, telephony dealt only with analog signals in the circuit-switched networks of the telephone companies. , Network and Applications. As a result, we're able to differentiate Applied Digital in the eyes of potential customers. Put simply, Applied Digital enables e-business through CTII CTII Comprehensive Technologies International, Inc. (TM) -- Computer Telephony See CTI, VoIP and IP telephony. Computer Telephony - Computer Telephone Integration Internet Integration. As we continue to invest in both infrastructure and brand awareness, we will continue to transform the company and the e-business marketplace itself." Sullivan continued: "Our results for the first quarter build on our excellent performance in 1999. Last year, we generated considerable momentum, and our first quarter results show that our growth momentum is continuing in 2000. Because of our improved financial position, our ongoing investments in Intellesale.com and other promising initiatives, Applied Digital Solutions is in a stronger position that ever to compete and win in the exciting, fast-growing e-business arena." About the CTII(TM) Initiative Applied Digital Solutions has successfully focused its strategic direction and organized the company into four core business groups: Internet, Telephony, Network and Applications. As part of this successful transformation, the company has positioned itself as a leading-edge provider of Computer Telephony Internet Integration (CTII) services. This CTII focus differentiates Applied Digital Solutions in the e-business solutions marketplace. With CTII, Applied Digital provides the full range of services and skills that companies need to conduct business online. Through its four integrated business groups, Applied Digital designs and deploys complete, front-to-back, web-enabled e-business systems -- all with a single point of contact for the customer. About Applied Digital Solutions, Inc. Applied Digital Solutions is a leading edge, single-source provider of e-business solutions. The company differentiates itself in the marketplace by enabling e-business through Computer Telephony Internet Integration (CTII). With five-year revenue growth (from 1994 to 1998) of 64,012%, Applied Digital Solutions is ranked as the fifth fastest-growing technology company by Deloitte & Touche in its 1999 Technology Fast 500 listing. For more information, visit the Company's web site at www.adsx.com.
Applied Digital Solutions, Inc. and Subsidiaries
Selected Operating Information
(In thousands, except per share data)
Three Months Ended
March 31,
2000 1999
----------------------------------------
(Unaudited)
Revenue $85,153 $51,573
EBITDA (1) 888 (244)
Pretax loss (2,123) (1,976)
Net loss available to
common stockholders $(1,172) $(1,645)
Net loss per common share:
Basic $ (0.02) $ (0.04)
Diluted $ (0.02) $ (0.04)
Cash loss (2) $(525) $(1,258)
Cash loss per common share (3)
Basic $(0.01) $(0.03)
Diluted $(0.01) $(0.03)
Weighted average number of
common shares outstanding:
Basic 49,012 41,236
Diluted 49,012 41,236
Selected Balance Sheet Data: March 31, December 31,
(in thousands) 2000 1999
-----------------------------------------
(Unaudited) (Audited)
Cash and cash equivalents $ 5,863 $ 5,138
Total current assets 112,785 138,881
Total assets 209,081 228,976
Total current liabilities 72,462 98,165
Stockholders' equity 97,326 92,936
(1) EBITDA as used herein is pre-tax loss before interest income and expense, depreciation and amortization. (2) Cash loss is generally defined as after-tax loss that excludes any negative effects of goodwill amortization. (3) Cash loss per common share is computed by dividing cash loss by the basic or diluted weighted average number of common shares outstanding. Statements about the Company's future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are `forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform Act of 1995. The Company intends that such 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. involve risks and uncertainties and are subject to change at any time, and the Company's actual results could differ materially from expected results. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or . |
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