CAM Announces 3rd Quarter Results.Business Editors & High-Tech high-tech also hi-tech adj. Informal Of, relating to, or resembling high technology. high-tech Adjective same as hi-tech Adj. 1. Writers FOUNTAIN VALLEY Fountain Valley, city (1990 pop. 53,691), Orange co., S Calif.; inc. 1957. Chiefly residential, Fountain Valley also has diverse manufactures, including apparel, computer equipment, semiconductors, and medical equipment. A U.S. navy helicopter facility is there. , Calif.--(BUSINESS WIRE)--July 31, 2000 CAM cam, mechanical device cam, mechanical device for converting a rotating motion into a reciprocating, or back-and-forth, motion, or for changing a simple motion into a complex one. Commerce Solutions (Nasdaq:CADA CADA Canadian Automobile Dealers Association CADA Capitol Area Development Authority CADA Canadian Alliance of Dance Artists CADA Central Area Development Association CADA California Association of Directors of Activities (Santa Cruz, CA) ) Monday Monday: see week. announced a loss for the three months ended 6/30/00 of ($201,000) or ($.07) per share vs. net income of $432,000 or $.17 per share for the same quarter in 1999. Revenues for the three months ended June June: see month. 30, 2000 were $4.96 million vs. $7.78 million. Net loss for the nine months ended June 30, 2000 was ($.06) per share vs. net income of $.30 per share last year on sales of $16.9 million vs. $19.7 million, respectively. "The primary reason for lower revenues and the small loss we experienced in the June quarter is the same as what we experienced in the March quarter, which is the carryover carryover n. in taxation accounting, using a tax year's deductions, business losses or credits to apply to the following year's tax return to reduce the tax liability. (See: carryback) effect of Y2K See Y2K problem and Y2K compliant. Y2K - Year 2000 and its impact on the buying patterns of our customers and our market", stated Geoff Knapp Knapp (pronounced like English "nap") can refer to:
"Upgrade sales from existing customers were off substantially and we saw a pattern of delayed buying decisions from new customers. While we feel as if results will begin to improve, we don't don't 1. Contraction of do not. 2. Nonstandard Contraction of does not. n. A statement of what should not be done: a list of the dos and don'ts. expect the market to return to normal until after the upcoming Christmas Christmas [Christ's Mass], in the Christian calendar, feast of the nativity of Jesus, celebrated in Roman Catholic and Protestant Churches on Dec. 25. In liturgical importance it ranks after Easter, Pentecost, and Epiphany (Jan. 6). selling season. In the mean time we are on track with nearly all of the strategic initiatives we have been discussing over the past several months. "The company has the strongest balance sheet in its history with over $10 million in cash and no debt. We have more opportunity for building our new business model based on recurring re·cur intr.v. re·curred, re·cur·ring, re·curs 1. To happen, come up, or show up again or repeatedly. 2. To return to one's attention or memory. 3. To return in thought or discourse. revenues than we have had at any time in our history. We also feel we have by far the greatest technological and strategic advantage with our products that we have ever enjoyed. "With the current slow down in our core market notwithstanding, we are very optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op about the future of CAM Commerce Solutions." About CAM Commerce Solutions CAM Commerce Solutions Inc. (formally CAM Data Systems Inc.), provides total commerce solutions for traditional as well as Web retailers that are based on the company's open architecture software products for managing inventory, point of sale, sales transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. , and accounting. These solutions often include hardware, installation, training, service, and consulting provided by the company. You can visit CAM Data at www.camcommerce.com Important Information The statements made in this news release could be 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. based on expectations that involve a number of risks and uncertainties. The factors that could cause actual results to differ materially include the following: economic conditions; competitive factors and pricing pressures; changes in product mix; technological developments affecting the company's operations, market, products; and other factors discussed in the company's filings with the Securities and Exchange Commission.
CAM COMMERCE SOLUTIONS INC.
CONDENSED STATEMENT OF OPERATIONS
(All figures in thousands except per share data)
(Unaudited)
THREE MONTHS ENDED NINE MONTHS ENDED
JUNE 30 JUNE 30 JUNE 30 JUNE 30
2000 1999 2000 1999
REVENUES
Net system revenues $3,868 $6,606 $13,495 $16,203
Net service revenues 1,093 1,173 3,395 3,499
Total net revenues 4,961 7,779 16,890 19,702
COSTS AND EXPENSES
Costs of system revenues 2,245 3,576 7,448 9,451
Costs of service revenues 619 639 1,851 1,774
Total costs of revenues 2,864 4,215 9,299 11,225
Selling, general and admin.
expenses 2,029 2,600 6,740 6,548
Research and development expense 449 279 1,265 787
Interest income (124) (32) (225) (86)
Total costs and expenses 5,218 7,062 17,079 18,474
Income (loss) before provision
(benefit) for income taxes (257) 717 (189) 1,228
Provision (benefit) for income
taxes (56) 285 (33) 490
Net income (loss) income $ (201) $ 432 $ (156) $ 738
Basic net income (loss) per
share $ (.07) $ .20 $ (.06) $ .34
Diluted net income (loss) per
share $ (.07) $ .17 $ (.06) $ .30
Shares used in computing basic
net income (loss) per share 2,733 2,157 2,508 2,147
Shares used in computing
diluted net income (loss)
per share 2,733 2,522 2,508 2,415
CAM COMMERCE SOLUTIONS INC.
CONDENSED BALANCE SHEET
(All figures in thousands)
(Unaudited)
JUNE 30 SEPTEMBER 30
2000 1999
ASSETS
Current assets:
Cash and cash equivalents $ 10,678 $ 5,049
Accounts receivable, net 1,903 3,439
Inventories 734 763
Prepaid expenses 473 73
Total current assets 13,788 9,324
Property and equipment, net 856 1,060
Intangible assets, net 1,871 1,297
Other assets 363 218
Total assets $ 16,878 $ 11,899
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable $ 738 $ 1,644
Accrued compensation and related
expenses 633 1,110
Customer deposits and deferred
service revenue 697 899
Income taxes payable -- 219
Other accrued liabilities 150 439
Total current liabilities 2,218 4,311
Stockholders' equity:
Common stock, $.001 par value,
5,000 shares authorized,
2,761 shares issued and outstanding 3 2
Paid-in capital 11,798 4,571
Retained earnings 2,859 3,015
Total stockholders' equity 14,660 7,588
Total liabilities and stockholders'
equity $ 16,878 $ 11,899
|
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion