Attorneys.com Reports Third Quarter 2000 Results.Business Editors/Legal Writers LAKE HELEN Lake Helen may refer to:
Attorneys.com, Inc. (Nasdaq:ATTY ATTY Attorney ATTY A Thousand Thank Yous ) today announced financial results for the quarter and nine months ended September September: see month. 30, 2000. Sales for the third quarter of 2000 were $1,193,536, compared with $1,423,123 reported a year ago. For the same period, the company reported a net loss of $1,011,384, or $0.20 per share, compared with net income of $4,121, or $0.00 per share, recorded in the third quarter of 1999. For the nine-month period ended September 30, 2000, sales totaled $3,564,813, compared with $4,298,101 a year ago. The company reported a net loss of $2,636,127, or $0.59 per share, compared with net income of $58,945, or $0.02 per share, reported for the same period in 1999. "Results for the quarter and nine months were primarily impacted by expenses associated with the design and development of the company's planned attorney referral business and the related web site. During the quarter progress was made in our efforts to strengthen the company's marketing efforts and enhance infrastructure in anticipation of the launch of our 1-800-ATTORNEY and www.1800attorney.com product offerings. We will begin network sales later this month that will be recognized as revenues when we launch our Florida Florida, state, United States Florida (flôr`ĭdə, flŏr`–), state in the extreme SE United States. A long, low peninsula between the Atlantic Ocean (E) and the Gulf of Mexico (W), Florida is bordered by Georgia and network, which is planned to occur by next June June: see month. . Because the great majority of our revenues are expected to be realized through traditional off-line product offerings, we have decided to defer de·fer 1 v. de·ferred, de·fer·ring, de·fers v.tr. 1. To put off; postpone. 2. To postpone the induction of (one eligible for the military draft). v.intr. the launch of our new web site until 2001 to more closely coincide with the launch of our telephonic attorney referral network," said Peter S. Balise
To support the implementation and effectiveness of the company's expanding business model, Balise highlighted a recent marketing agreement with California-based Futuredontics, Inc., which operates the 1-800-DENTIST(R) referral network. Under the terms of the agreement, Futuredontics will provide 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" to enhance the development and implementation of Attorneys.com's 1-800-ATTORNEY referral network. To more closely coincide with the company's 1-800-ATTORNEY telephone legal referral network, the company has acquired the service mark 1-800-ATTORNEY(R). Attorneys.com expects to realize losses until sometime after the launch of its Florida attorney referral network. This is due to the fact that revenues can not be recognized until the network is operative OPERATIVE. A workman; one employed to perform labor for another. 2. This word is used in the bankrupt law of 19th August, 1841, s. 5, which directs that any person who shall have performed any labor as an operative in the service of any bankrupt shall be while certain costs for development, infrastructure, and marketing must be recognized. "While these costs have a negative impact on our near-term near-term adj. Of, for, or involving a short period of time in the near future. performance, we believe the long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. benefits and potential more than justify these investments," Balise added. Attorneys.com, Inc. and its 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. , PCNA PCNA Proliferating Cell Nuclear Antigen PCNA Preventive Cardiovascular Nurses Association PCNA Pepsi Cola North America PCNA Post Conflict Needs Assessment (United Nations) PCNA Pudelpointer Club of North America Communications Corporation, are leading providers of services within the legal industry and are aggressively pursuing a strategy of providing comprehensive legal information to consumers, small businesses, and legal professionals. 1-800-DENTIST(R)is a registered service mark of Applied Anagramics, Inc. operated under license by Futuredontics, Inc. in the U.S. "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 Under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: The statements in the press release that relate to our beginning network sales later this month; the launching of our Florida network; the launching of our new web site; our receipt of services from Futuredonics; our continuing losses; and the anticipated benefits from our planned referral network are 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. within the meaning of the Private Securities Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements may not occur. Important factors that may cause actual results to differ materially from these forward-looking statements include the following: (1) our completion of our sales and marketing training for our new network; (2) our ability to successfully implement our plans with our existing cash resources or to raise additional capital in the future; (3) our ability to successfully achieve the technical requirements of the referral network and the web site as intended; (4) the effectiveness of third parties' efforts on our behalf; and(5) the receptiveness re·cep·tive adj. 1. Capable of or qualified for receiving. 2. Ready or willing to receive favorably: receptive to their proposals. 3. of Florida lawyers to our referral network. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as the result of new information, future events or otherwise. For more information regarding some of the ongoing risks and uncertainties of the company's business, see the company's filings with the Securities and Exchange Commission.
ATTORNEYS.COM, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
Three Months Ended Nine Months Ended
Sept. 30, Sept. 30, Sept. 30, Sept. 30,
2000 1999 2000 1999
--------- --------- --------- ---------
Net sales $1,193,536 $1,423,123 $3,564,813 $4,298,101
Costs and expenses:
Production 428,793 280,846 1,233,547 945,115
Marketing and selling 559,827 681,603 1,642,984 1,931,627
Depreciation 27,461 30,708 85,850 95,886
Amortization 4,710 5,613 14,986 17,620
General and
administrative 261,628 430,046 999,068 1,281,498
New business
development 956,664 --- 2,330,441 ---
--------- --------- --------- ---------
2,239,083 1,428,816 6,306,876 4,271,746
Income (loss) from
operations (1,045,547) (5,693) (2,742,063) 26,355
Other income, net 34,163 9,814 105,936 34,794
--------- --------- --------- ---------
Income (loss) before
provision for income
taxes (1,011,384) 4,121 (2,636,127) 61,149
Provision for income
taxes --- --- --- (2,204)
--------- --------- --------- ---------
Net income (loss) $(1,011,384) $ 4,121 $(2,636,127) $ 58,945
========= ========= ========= =========
Net income (loss) per
common share:
Basic $ (0.20) $ 0.00 $ (0.59) $ 0.02
========= ========= ========= =========
Diluted $ (0.20) $ 0.00 $ (0.59) $ 0.02
========= ========= ========= =========
Shares used in comput-
ing net income (loss)
per share:
Basic 4,966,259 3,276,677 4,431,143 3,264,831
========= ========= ========= =========
Diluted 4,966,259 3,653,010 4,431,143 3,497,564
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