Boundless Corporation Announces Preliminary Year End Operating Results And One-For-Ten Reverse Split.HAUPPAUGE, N.Y.--(BUSINESS WIRE)--February 23, 1998-- --1997 Operating Income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. Expected to Exceed $0.50 Per Share Post Split-- --Company Intends to Apply For Nasdaq National Market System Listing-- Boundless Corporation (NASDAQ: BDLS BDLS Basic Disaster Life Support BDLS Brachmann-De Lange Syndrome BDLS Battery Data Link System BDLS Bidirectional Loop Switching ) today announced that it expects to report record operating results for the full year ended December 31, 1997. The Company also announced that its Board of Directors has approved a one-for-ten reverse split which will be effective upon satisfaction of legal requirements. Following the reverse split, the Company will have approximately 5,139,000 shares outstanding and a public float of approximately 2,494,191 shares. As of December 31, 1997, the Company had 51,392,288 shares outstanding. Pending final review by the Company's auditors, the Company anticipates that full year end per share operating income will significantly exceed $0.50 per share, after giving effect to the planed one-for-ten reverse stock split. The Company expects to release fully audited results during the week of March 2, 1998. Following the release of the Company's final 1997 results, the Company expects to apply for listing on the Nasdaq National Market. J. Gerald Combs Gerald Combs, a computer science graduate of the University of Missouri-Kansas City, is the creator and lead developer of Ethereal, now Wireshark, which was first released in 1998. , Chairman and Chief Executive Officer of Boundless Corporation, stated, "As a result of last year's successful restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). , Boundless has surpassed many of its financial and operational goals for 1997. During the past year, the Company has significantly strengthened its balance sheet and will report four consecutive quarters of profitability and increased earnings. Therefore, we believe it is in the best interest of our shareholders to effect the reverse split in order to create a more traditional capital structure. This action will enable the Company to apply for listing on the Nasdaq National Market, which we believe will increase our corporate visibility in the financial marketplace and broaden our shareholder base by attracting new individual and institutional shareholders." In addition, Mr.Combs stated that, "To further continue improvement in our financial performance, Boundless intends to further enhance its product offerings through an aggressive technology development and partnership program. To this end, the Company recently hired a new Chief Technology Officer responsible for software development and retained Alliant Partners, Inc. a mergers and acquisition advisory firm in Palo Alto, California “Palo Alto” redirects here. For other uses, see Palo Alto (disambiguation). Palo Alto (IPA: /ˌpæloʊˈʔæltoʊ/, from Spanish: palo: "stick" and alto: "high", i.e. to further assist Boundless in its acquisition efforts. "We will build upon our existing momentum in thin-client computing computing - computer and create new initiatives to meet our customers' desire for more customized and effective solutions through close partnerships with associated software and software service companies," said Mr. Combs. "As our large installed base of terminal users migrate to Boundless thin-clients, we perceive a tremendous opportunity in areas of Web and Microsoft Windows See Windows. (operating system) Microsoft Windows - Microsoft's proprietary window system and user interface software released in 1985 to run on top of MS-DOS. Widely criticised for being too slow (hence "Windoze", "Microsloth Windows") on the machines available then. CE access to legacy data and applications as well as opportunities in customized solutions development." Boundless Corporation (NASDAQ: BDLS), through its wholly- owned subsidiary, Boundless Technologies, Inc., is a world leader in the design, manufacture and marketing of text terminals and thin-clients for the Windows environment (1) (upper case "W") Refers to computers running under a Microsoft Windows operating system. (2) (lower case "w") Also called a "windowing environment," it refers to any software that provides multiple windows on screen such as Windows, Mac, Motif and X Window. and the Internet/Intranet, legacy and UNIX UNIX Operating system for digital computers, developed by Ken Thompson of Bell Laboratories in 1969. It was initially designed for a single user (the name was a pun on the earlier operating system Multics). (R) applications markets. The Company's family of thin clients provides computing solutions with PC-like capabilities where applications reside on a server and are accessed by user on demand. Without the need for large disk and memory capacities, all models offer significant administrative and total-cost-of-ownership advantages over networked PCs. The Company's products are distributed worldwide through a network of OEMs, select distributors and value-added resellers A value-added reseller (VAR) is a company that adds some feature(s) to an existing product(s), then resells it (usually to end-users) as an integrated product or complete "turn-key" solution. . For product information, contact the Company at 1-800-231-5445 or on their website at: http://www.boundless.com. Except for the historical information herein, the matters discussed in this news release include 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. that may involve a number of risks and uncertainties. Actual results may vary significantly based on a number of factors, including, but not limited to, risks in product and technology development, market acceptance of new products and continuing product demand, the impact of competitive products and pricing, changing economic conditions and other risk factors detailed in the Company's most recent annual report and other filings with the Securities and Exchange Commission. CONTACT: Financial Communications Contact: Michael W. Glickman / John G. Nesbett LIPPERT/HEILSHORN & ASSOCIATES, INC. 212/838-3777, ext. 124 E-MAIL e-mail: see electronic mail. in full electronic mail Messages and other data exchanged between individuals using computers in a network. : michael@lhai.com OR Company Contact: Jeffrey K. Moore Vice President 512/349-5872 E-MAIL: jeff.moore@boundless.com |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion