CBCI Telecom announces first quarter results.MONTREAL--(BUSINESS WIRE)--Sept. 24, 1996--CBCI TELECOM INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. .(ME, TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : CAN ) CBCI Telecom Inc. (CBCI), a leading manufacturer of visual communications systems In telecommunication, a communications system is a collection of individual communications networks, transmission systems, relay stations, tributary stations, and data terminal equipment (DTE) usually capable of interconnection and interoperation to form an integrated whole. , today reported revenues from operations of $8.1 million and a net loss of $0.4 million, or $0.14 per share, for the first quarter ended June 30, 1996, compared to revenues of $7.5 million and a net loss of $1 million, or $0.39 per share in the same quarter last year. "We are pleased with the performance of our Visual Communications Division, which generated $6.4 million of revenues, an improvement of approximately 15 percent over the first quarter of 1996," said Jeff Speak, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of CBCI. "Our gross margin percentage improved to 38.6 percent compared to 36.4 percent in the same period of last year, reflecting a shift in the product mix towards higher margin vertical application products and continued product cost reduction in our Visual Communication products. Additionally, our Telecommunications Division continued its strong performance. "Our first quarter results only partially reflect the improvements in CBCI's financial model anticipated from the acquisition of the remaining 50 percent interest of BT Visual Images (CBCI's 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. subsidiary), which was completed on May 29, 1996," explained Speak, adding "This acquisition is bringing significant financial benefits such as: improved gross margins through the direct purchase of core codec (1) (enCOder/DECoder) A hardware circuit that performs analog-to-digital conversion (ADC) and digital-to-analog (DAC) conversion. When analog signals are entered into a computer, cellphone or other device via a microphone or video source such as VHS tape or analog TV, technology, as well as reduced operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. through the consolidation of research and development, and operations at CBCI's head office in Montreal. The full benefits of this acquisition are expected in subsequent quarters," said Speak. "These results do not reflect our stronger balance sheet and therefore, lower interest costs following our Initial Public Offering, which was completed on August 16, 1996. The benefits of the Initial Public Offering will be reflected partially in the second quarter and fully in the third and fourth quarters," concluded Speak. CBCI, based in Montreal, is among North America's leading providers of visual communications systems. It designs, manufactures, markets and services a comprehensive portfolio of general purpose and customized, application-orientated visual communication systems for business, institutional and vertical markets. CBCI has sales offices across the U.S. and Canada. CONTACT: CBCI Telecom Inc. Alain Tanguay, 514/748-5224 |
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