Aspect Telecommunications announces record financial results for the quarter and year ended Dec. 31, 1994.SAN JOSE San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Calif.--(BUSINESS WIRE)-- Jan. 17, 1995 -- Aspect Telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. (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 :ASPT ASPT American Society of Plant Taxonomists ASPT American Society of Phlebotomy Technicians ASPT Average Score Per Taxon (neural networks) ASPT Academy of Screen Printing Technology ASPT Army School of Physical Training ) reported record revenues and earnings for the fourth quarter and for the year ended December December: see month. 31, 1994. Revenues of $41.1 million for the fourth quarter 1994 grew 22 percent from the same quarter in 1993. Income from operations increased to $7.6 million, and net income increased to $4.8 million or $.44 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 for the quarter. Compared to the third quarter ended September September: see month. 30, 1994, fourth quarter 1994 net revenues increased 8 percent, income from operations grew 7 percent, net income grew 7 percent, and earnings per share increased 3 cents. For the full year of 1994, revenues of $147.2 million represented an increase of 38 percent from 1993. Net income improved 53 percent to $17.6 million or $1.60 per share on a fully diluted basis in 1994 from net income of $11.5 million or $1.08 per share in 1993. In the final period of the year, cash and short-term Short-term Any investments with a maturity of one year or less. short-term 1. Of or relating to a gain or loss on the value of an asset that has been held less than a specified period of time. investments increased $16.2 million to $102.6 million, while accounts receivable accounts receivable n. the amounts of money due or owed to a business or professional by customers or clients. Generally, accounts receivable refers to the total amount due and is considered in calculating the value of a business or the business' problems in paying decreased $9.4 million to $26.3 million. "We are pleased to report another year of growth and profits, and we are particularly pleased about the overall health of the balance sheet at year- end," stated James R. Carreker, President and Chief Executive Officer. Aspect Telecommunications is a global provider of comprehensive business solutions for mission-critical call centers, including call transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. , call center automation, and tools for sharing management and business information. Aspect is also a provider of services vital to call center environments, including business applications consulting, training, and call center integration services. Aspect Teleservices, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , provides technical support outsourcing (1) Contracting with outside consultants, software houses or service bureaus to perform systems analysis, programming and datacenter operations. Contrast with insourcing. See netsourcing, ASP, SSP and facilities management. services. Aspect Telecommunications is headquartered in San Jose, California San Jose (IPA: /ˌsænhoʊˈzeɪ/) is the third-largest city in California, and the tenth-largest in the United States. It is the county seat of Santa Clara County. , and employs approximately 640 people worldwide. -0- CONSOLIDATED STATEMENTS OF INCOME (in thousands, except per share data - unaudited)
9/30/94 9/30/93 9/30/94 9/30/93
Net revenues:
Product 29,765 22,047 83,010 56,642
Customer support 8,402 5,890 23,169 16,280
Total net revenues 38,167 27,937 106,179 72,922
Costs and expenses: Cost of product revenues 10,789 7,815 30,207 20,884 Cost of customer support revenue 6,309 4,449 17,231 12,468 Research and development 4,064 2,936 11,017 7,973 Selling, general and administrative 9,831 7,707 27,245 20,532 Total costs and expenses 30,993 22,907 85,700 61,857 Income from operations 7,174 5,030 20,479 11,065 Interest income, net 106 216 68 836 Income before taxes 7,280 5,246 20,547 11,901 Provision for income taxes 2,766 2,046 7,807 4,642 Net income $4,514 $3,200 $12,740 $7,259
Earnings per share:
Primary $0.42 $0.30 $1.19 $0.69
Fully diluted $0.41 $0.30 $1.16 $0.69
Shares used in per share computation
Primary 10,648 10,597 10,691 10,454
Fully diluted 12,114 10,848 12,159 10,651
ASPECT TELECOMMUNICATIONS CORPORATION
CONSOLIDATED BALANCE SHEETS
(in thousands)
Dec. 31, Dec. 31,
1994 1993 CHANGE
Assets
Cash and equivalents and short-term
investments $102,597 $93,105 $9,492
Accounts receivable, net 26,294 17,943 8,351
Inventories 8,746 6,686 2,060
Other current assets 5,713 4,831 882
Total current assets 143,350 122,565 20,785
Property and equipment, net 19,292 12,462 6,830
Other assets 3,393 3,299 94
Total assets $166,035 $138,326 $27,709
Liabilities and shareholders' equity
Accounts payable $7,273 $4,660 $2,613
Accrued liabilities 16,562 10,306 6,256
Current portion of long-term
obligations 0 91 (91)
Customer deposits and deferred revenue 6,387 3,876 2,511
Total current liabilities 30,222 18,933 11,289
Long-term obligations 0 60 (60)
Convertible subordinated debentures 55,000 55,000 0
Shareholders' equity 80,813 64,333 16,480
Total liabilities and shareholders'
equity $166,035 $138,326 $27,709
CONTACT: Aspect Telcommunications William R. Hahn, 408/441-2200 |
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