Bridge Technology, Inc. Revenues Climb to $120 Million With Strong Fourth Quarter Results.Business Editors and High-Tech Writers GARDEN GROVE Garden Grove, city (1990 pop. 143,050), Orange co., S Calif., a suburb of Long Beach and Los Angeles, on the Santa Ana River; founded 1877, inc. 1956. Many of its residents work in nearby aerospace and defense installations, and there is light manufacturing. , Calif.--(BUSINESS WIRE)--April 4, 2001 Bridge Technology, Inc. (Nasdaq:BRDG BRDG Bridge ) a data storage and communication components company, today announced final results as audited by BDO Seidman BDO Seidman, LLP is the United States arm of BDO International, one of the largest accounting firms outside of the Big Four. History BDO Seidman, LLP was founded as Seidman and Seidman in New York City in 1910 by Maximillian L. Seidman. , LLP LLP - Lower Layer Protocol . Year-end results were bolstered by a strong fourth quarter that reflected substantially higher revenues and earnings. Revenues for the three months ended December 31, 2000 were $45,325,239, up to 438%, while net income for the same three months was $430,249, up 305%. Higher revenues and earnings for the fourth quarter, as compared to the fourth quarter in 1999, were attributed to the acquisition of CMS (1) See content management system and color management system. (2) (Conversational Monitor System) Software that provides interactive communications for IBM's VM operating system. Technology Limited, Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. in early 2000, and the strong fourth quarter results of our power supplies business. Revenues for the year ended December 31, 2000 were $120,918,774, up 253%, while net income for the year was $1,099,160, up 66%, or $0.10 per share. Higher revenues and earnings for the year is predominately the result of our CMS Technology Limited, Hong Kong operations in China, which were 55% of our total revenues.
Quarter Ended Quarter Ended
December 31, 1999 December 31, 2000 % Change
Revenues $ 8,426,276 $ 45,325,239 Up 438%
Net Profit 106,165 430,249 Up 305%
Earnings Per
Share 0.01 0.04 Up 300%
Year Ended Year Ended
December 31, 1999 December 31, 2000 % Change
Revenues $ 34,272,187 $ 120,918,774 Up 253%
Net Profit 660,721 1,099,160 Up 66%
Earnings Per
Share 0.07 0.10 Up 43%
EBITDA
Earnings $ 1,526,209 $ 3,668,434 Up 140%
EBITDA
Earnings
Per Share 0.14 0.33 Up 136%
"Bridge Technology, Inc. continues to grow as planned," stated John Harwer, President. About Bridge Technology, Inc. Bridge Technology, Inc. manufactures, markets, and distributes digital recording, storage and communication components primarily to long standing OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and customers. The company, with subsidiaries in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Japan, Hong Kong, and China, is also a design innovator for the data, voice, multimedia, Internet and wireless communication industries. More information on Bridge Technology, Inc. may be obtained over the Internet at www.bridgeus.com. 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 contained in this release, which are not historical facts, may be deemed to contain forward-looking statements including, but not limited to, deployment of new services, growth of the customer base, and growth of the service area, among other items. Actual results may differ materially from those anticipated in any forward-looking statement with regard to magnitude, timing, or other factors. Deviation may result from risk and uncertainties, including, without limitation, the company's dependence on third parties, market conditions for the sale of services, technical factors affecting networks, availability of capital, and other risks and uncertainties. The company disclaims any obligation to update information contained in any forward-looking statement. |
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