AuthentiDate Holding Corp. Second Quarter Results Show Improvement.Business Editors SCHENECTADY, N.Y.--(BUSINESS WIRE)--Feb. 7, 2003 AuthentiDate Holding Corp. (AHC AHC Appalachian Hardwood Center AHC American Heritage Center (University of Wyoming, Laramie, WY) AHC American Horse Council AHC Association for History and Computing AHC Australian Heritage Commission AHC Assault Helicopter Company ) (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 : ADAT (Alesis Digital Audio Tape) A digital audio recording technology from Alesis, LLC, Cumberland, RI (www.alesis.com). In 1992, Alesis introduced the first 8-track digital tape recording system. ) today announced its results for the second fiscal quarter ended December 31, 2002. The Company had a net loss of $2.0 million ($0.10 per share) for the quarter ended December 31, 2002 compared to a net loss of $2.2 million ($0.16 per share) for the same quarter last year. For the six months ended December 31, 2002 the Company had a net loss of $3.9 million ($.20 per share) compared to $4.8 million ($.35 per share) for the same period last year. Consolidated sales totaled $5.9 million and $11.4 million for the three and six months ended December 31, 2002, respectively. This compares with $4.1 million and $7.4 million for the same periods last year. The reduction in the loss is attributable to the DocSTAR Division whose segment profit increased by $439,440 as a result of an increase in sales of $263,788 and improvement in gross profit margins Gross profit margin Gross profit divided by sales, which is equal to each sales dollar left over after paying for the cost of goods sold. gross profit margin A measure calculated by dividing gross profit by net sales. for the six months ended December 31, 2002. Also contributing to the reduced loss was improvement in the AuthentiDate group (which includes AuthentiDate, Inc., AuthentiDate International, AG and Trac Medical Solutions, Inc.) whose segment loss declined from $2,885,804 to $2,575,429 for the six months ended December 31, 2002. The decline was due to a reduction in expenditures and an increase in sales from $25,244 to $626,718. The increase in consolidated sales is due to the aforementioned a·fore·men·tioned adj. Mentioned previously. n. The one or ones mentioned previously. aforementioned Adjective mentioned before Adj. 1. sales increases in DocSTAR and AuthentiDate but the primary increase in sales was due to DJS DJS Dubin-Johnson Syndrome DJS Def Jam South (record label) DJS Deutsche Journalistenschule eV DJS Dow Jones Spot DJS Director, Joint Staff Marketing Group which realized a larger percentage of direct sales compared to indirect sales this year compared to last year. DJS sales increased by $3.1 million for the six months ended December 31, 2002 over last year. On a direct sale DJS sells computer hardware directly to its customer but on an indirect sale DJS passes the sale on to the manufacturer or distributor and receives a fee and the fee is recorded as a sale. The gross profit dollars are about the same in a direct sale as an indirect sale however the sales dollars are much higher in a direct sale scenario. The segment profit for DJS this year compared to last year was about the same. The Company's cash flow from operating activities was a negative $2.6 million for the six months ended December 31, 2002 compared to a negative $3.8 million for the same period last year. The improvement is due to the reduced loss this year compared to last year. John Botti Raphael Jose Botti (born February 23, 1981) simply known as Botti, is a Brazilian professional footballer. He plays as a midfilder for Vissel Kobe. Botti is a hard-working and talented player who may not get on the scoresheet too often – just 14 times in his five years stated, "Our recent results indicate that the actions that we have taken over the past several quarters are paying off. Our losses are down, sales are up and the AuthentiDate activities are gaining traction Traction Definition Traction is the use of a pulling force to treat muscle and skeleton disorders. Purpose Traction is usually applied to the arms and legs, the neck, the backbone, or the pelvis. . AuthentiDate-related revenues are starting to ramp up Ramp Up To increase a company's operations in anticipation of increased demand. Notes: A company might 'ramp up' operations if they just signed a contract creating substantially more demand for their product. See also: Demand, Economies of Scale as we gain increased market recognition and additional sign-ups for our various services including Trac Medical, and AuthentiDate AG, our overseas counterpart counterpart n. in the law of contracts, a written paper which is one of several documents which constitute a contract, such as a written offer and a written acceptance. . Progress in Authentidate, Inc. in establishing the US Postal Service postal service, arrangements made by a government for the transmission of letters, packages, and periodicals, and for related services. Early courier systems for government use were organized in the Persian Empire under Cyrus, in the Roman Empire, and in medieval Electronic Postmark has been steady and we anticipate strong revenue growth as the service is now live. Obviously working with market leaders to forge business relationships requires extensive time and effort, but we believe the magnitude of the opportunity is worth it. We look forward with enthusiasm and confidence that the course we have chosen could lead to tremendous success."
Quarter Ended Six Months Ended
December 31, December 31,
2002 2001 2002 2001
Sales $5,920,575 $4,131,286 $11,385,151 $7,394,789
Gross profit 1,773,383 1,191,812 3,073,316 2,163,554
Operating loss (1,889,814) (2,095,694) (4,087,304) (4,487,545)
Net loss (1,953,555) (2,222,955) (3,948,421) (4,831,925)
Net loss per share:
basic and diluted ($.10) ($.16) ($.20) ($.35)
A live webcast of the annual shareholders meeting will be
available at www.authentidatehc.com this Monday, February 10th at
10:00 am EST.
About AuthentiDate Holding Corp. AuthentiDate Holding Corp. (AHC) is the holding company of five business units: DocSTAR, AuthentiDate International AG, AuthentiDate, Inc., DJS Marketing Group/Computer Professionals International and Trac Medical Solutions, Inc. AuthentiDate and AuthentiDate AG provide the authentication (1) Verifying the integrity of a transmitted message. See message integrity, e-mail authentication and MAC. (2) Verifying the identity of a user logging into a network. of digital data through its proprietary and patent pending technology. AuthentiDate is establishing itself as the authority on "content security," a growing sector of the electronic network security infrastructure market Trac Medical uses the AuthentiDate service to improve speed, accuracy and security in processing medical forms. These three business units comprise the AuthentiDate Segment for financial reporting purposes. DocSTAR sells a complete line of document imaging products and DJS delivers professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. centered on systems integration projects, staff augmentation AUGMENTATION, old English law. The name of a court erected by Henry VIII., which was invested with the power of determining suits and controversies relating to monasteries and abbey lands. , out-tasking and 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, and resells computer related products. 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. within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Act of 1934. When used in this release, the words "believe," "anticipate," "think," "intend," "plan," "will be," "expect," and similar expressions identify such forward-looking statements. Such statements regarding future events and/or the future financial performance of The Company are subject to certain risks and uncertainties, which could cause actual events or the actual future results of the Company to differ materially from any forward-looking statement. Such risks and uncertainties include, among other things, the availability of any needed financing, the Company's ability to implement its business plan for various applications of its technologies, the impact of competition, the management of growth, and the other risks and uncertainties that may be detailed from time to time in the Company's reports filed with the Securities and Exchange Commission. In light of the significant risks and uncertainties inherent in the forward-looking statements included herein, the inclusion of such statements should not be regarded as a representation by the Company or any other person that the objectives and plans of the Company will be achieved. |
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