Black Box Corporation Reports Record Revenues and Net Income and Strong Cashflow for Second Quarter and Six Months.PITTSBURGH--(BUSINESS WIRE)--Oct. 14, 1999-- Increases FY00 Annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. Revenue Target to $200 Million for On-Site Services Black Box Corporation (Nasdaq:BBOX) today reported record revenues and net income and strong cashflow for the second quarter ended September 30, 1999. Revenues for the quarter increased 49% to $117.9 million, up from $79.1 million for the same period last year. Net income was $11.6 million, or 62 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. , an increase of 32% from $8.8 million, or 49 cents per share, for the same period last year. Free cashflow was $7.9 million for.0 million, or 95 cents per share, for the same s from $125 million to $200 million. Current annualized revenue is approximately $120 million. The previous year's annualized revenue was $55 million. Commenting believe our on-site services profitability wiliciencies achieved servicing national/worldwide tly subject to a variety of risks and uncertainties that could cause actual results to differ materially from those projected. The statements are made pursuant to the saf Quarter Six Month - 1999 1998 1999 1998 -------- -------- -------- -------- Revenues 674 283 Other expenses/(income), ovision for income taxes 7,559 5,689 -------- -------- -------- -------- -------- -------- -------- -------- Ba -------- -------- -------- ---------- -------- -------- Weighted average common 30, March 31, ASSETS 6 Trade 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 , net 77,913 60,052 62,841 Inventories, net - 187 --------- --------- --------- Total assets $293,600 $253,283 $246,275 --------- --------- --------- --------- --------- --------- LIABILITIES AND STOCKHOLDERS' EQUITY Stockholders' Equity The portion of the balance sheet that includes capital received from investors in exchange for stock (paid-in capital), donated capital, and retained earnings. This is equal to total assets minus liabilities, preferred stock and intangible assets. Current liabilities Current Liabilities Usually appearing on a company's balance sheet, it represents the amount owed for interest, accounts payable, short-term loans, expenses incurred but unpaid, and other debts due within one year. : Current debt $ 1,884 $ 1,869 $ 1,511 Accounts payable 20,570 20,053 18,210 Accrued expenses Accrued Expense An accounting expense recognized in the books before it is paid for. It is a liability, usually current. These expenses are typically periodic and documented upon a company's balance sheet due to the high probability of collection. 22,207 14,184 19,549 Accrued taxes 8,866 7,077 4,685 --------- --------- --------- Total current liabilities 53,527 43,183 43,955 --------- --------- --------- Long-term debt Long-Term Debt Loans and financial obligations lasting over one year. Notes: For example debts obligations such as bonds and notes which have maturities greater than one year would be considered long-term debt. 48,940 32,890 204 Other liabilities other liabilities Small and relatively insignificant liabilities. For financial reporting purposes, firms often combine small liabilities into this single category rather than listing each liability separately. 9,783 9,429 9,464 Stockholders' equity: Common stock 19 18 18 Treasury stock (58,765) (41,981) - Additional paid-in capital additional paid-in capital Stockholder contributions that are in excess of a stock's stated or par value. For example, if a firm issues stock with a par value of $1 per share but sells the stock to investors at $10 per share, the firm's financial statements 84,310 66,693 59,272 Retained earnings Retained Earnings The percentage of net earnings not paid out in dividends, but retained by the company to be reinvested in its core business or to pay debt. It is recorded under shareholders equity on the balance sheet. 161,895 150,318 139,678 Cumulative foreign currency translation adjustments (3,635) (4,793) (3,842) Dividend declared to former shareholders prior to mergers (2,474) (2,474) (2,474) --------- --------- --------- Total stockholders' equity 181,350 167,781 192,652 --------- --------- --------- Total liabilities and stockholders' equity $ 293,600 $ 253,283 $ 246,275 --------- --------- --------- --------- --------- --------- |
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