CAM Data Systems Inc. reports third quarter 1995 results; earnings increased 160%.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 17, 1995--CAM Data Systems Inc., (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 :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) ) a producer of point of sale and inventory management systems for small and medium sized retailers, Monday Monday: see week. reported that net income for its third quarter ended June June: see month. 30, 1995 increased 160% to $178,000 or nine 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. on a fully-diluted basis, on record revenues of $3,804,000 for the third quarter ended June 30, 1995 as compared to net income of $68,000 or three cents per share fully-diluted, on revenues of $3,353,000 for the third quarter ended June 30, 1994. Revenues for the nine months ended June 30, 1995, increased 10% to a record $10,728,000 compared to $9,746,000 for the first nine months of fiscal 1994. Net income for the first nine months of 1995 decreased to $190,000 or nine cents per share on a fully-diluted basis, compared to $223,000 or 11 cents per share fully-diluted for the first nine months of 1994. The company noted the drop in earnings for the first nine months of 1995, was partly due to the increase in income tax expense, as the company utilized the majority of net operating loss carryforwards Net operating loss carryforwards Application of losses to offset earnings in future years. for federal income taxes in 1994. The increase in revenues was due to an increased demand for its Profit$ software product. The company's cash position increased to $1.9 million or $1 per share based on continued strong cash flow from operations Cash flow from operations A firm's net cash inflow resulting directly from its regular operations (disregarding extraordinary items such as the sale of fixed assets or transaction costs associated with issuing securities), calculated as the sum of net income plus noncash expenses . The company has no long term debt.
CAM DATA SYSTEMS INC.
CONDENSED STATEMENTS OF OPERATIONS
(Unaudited)
NINE MONTHS ENDED
JUNE 30 JUNE 30
1995 1994
Revenues:
Net system revenues $8,702,500 $7,922,900
Net service revenues 2,025,800 1,823,600
Total net revenues 10,728,300 9,746,500
Costs and expenses:
Costs of system revenues 4,106,400 3,764,500
Costs of service revenues 1,363,500 1,445,100
Total costs of revenues 5,469,900 5,209,600
Selling, general and
administrative expenses 5,057,300 4,294,400
Interest income (50,700) (10,700)
Total costs and expenses 10,476,500 9,493,300
Income before provision for income taxes 251,800 253,200 Provision for income taxes (62,000) (30,000) Net income $ 189,800 $ 223,200 Primary net income per share $ .10 $ .11 Fully-diluted net income per share $ .09 $ .11 Shares used in computing primary net income per share 1,990,200 1,994,900 Shares used in computing fully -diluted net income per share 2,006,700 2,055,500
CAM DATA SYSTEMS INC.
CONDENSED STATEMENTS OF OPERATIONS
(Unaudited)
THREE MONTHS ENDED
JUNE 30, JUNE 30,
1995 1994
Revenues:
Net system revenues $3,118,700 $2,736,600
Net service revenues 685,200 616,900
Total net revenues 3,803,900 3,353,500
Costs and expenses:
Costs of system revenues 1,455,400 1,280,500
Costs of service revenues 415,500 498,800
Total costs of revenues 1,870,900 1,779,300
Selling, general and
administrative expenses 1,749,500 1,506,500
Interest income (19,200) (4,200)
Total costs and expenses 3,601,200 3,281,600
Income before provision
for income taxes 202,700 71,900
Provision for income taxes 25,000 (4,000)
Net income $ 177,700 $ 67,900 Primary net income per share $ .09 $ .03 Fully-diluted net income per share $ .09 $ .03 Shares used in computing primary net income per share 2,006,700 2,050,500 Shares used in computing fully -diluted net income per share 2,006,700 2,055,500 CONTACT: 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. Data Systems Inc., Fountain Valley Paul Paul, 1901–64, king of the Hellenes (1947–64), brother and successor of George II. He married (1938) Princess Frederika of Brunswick. During Paul's reign Greece followed a pro-Western policy, and the Cyprus question was temporarily resolved. Caceres Jr., 714/241-9241 |
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