CBQ, Inc. Announces Strong Third Quarter Financial Results with Annualized Revenues Increasing by 321%.Business Editors/Hi-Tech Writers WASHINGTON--(BUSINESS WIRE)--Dec. 8, 2000 CBQ See traffic engineering methods. , Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CBQI), a leading provider of e-Business infrastructure solutions for enterprises and evolving global trading networks, today reported strong third quarter fiscal 2000 results powered by the expansion of the company in the mid-Atlantic region as a result of the acquisition of Quantum Technology Group. Adjusting for the acquisition by Quantum of DPI (Dots Per Inch) The measurement of the resolution of display and printing systems. A typical CRT screen provides 96 dpi, which provides 9,216 dots per square inch (96x96). Flat panel displays from 110 to 200 dpi have also been developed. Net Solutions in April 2000, the annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. revenue run rate for CBQ is approximately $13 million. For the three-month period ending on September 30, 2000, total revenues from continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the increased to $2,754,167, from $311,690 in the same quarter of the prior year, or by 784%. For the nine-month period ending on September 30, 2000, total revenues from continuing operations increased to $7,844,363, from $1,864,905 in the same period of the prior year, or by 321%. There was a net loss from overall continuing operations of CBQ, Inc. of $1,022,131 in the third quarter of 2000, and the net loss from overall continuing operations of CBQ, Inc. for the nine-month period ending on September 30, 2000, was $1,772,080, or $.03 per share of common stock. CBQ's losses resulted from the discontinued operations Discontinued operations Divisions of a business that have been sold or written off and that no longer are maintained by the business. of Reliance Technologies, Inc. and Tophernet Inc., two Dallas-based affiliates that were eliminated in November 2000. Certain losses suffered by Quantum Technology Group resulted from discontinued operations in the electronics division, the insurance service division, and the retail service and repair divisions, all of which were non-core businesses. Quantum Technology Group, the core business continuing operations, had income in the third quarter of 4% on an EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become basis. "We have now completed the restructuring of CBQ for success," said Bart Fisher, 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. and Chairman. "CBQ, Inc. is a successful business with core competency A core competency is something that a firm can do well and that meets the following three conditions specified by Hamel and Prahalad (1990):
"CBQ's business strategy is to leverage what we believe is our sustainable competitive advantage in China which in turn will greatly enhance the marketing of our software development expertise on an ever broadening scale here in the US. This same competitive advantage will also aid us in developing a world class Internet portal (www.1stinchina.com) with which to offer access to goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. produced in China. It is our goal to be the business bridge to China in the twenty-first century," Fisher said. About CBQ, Inc. CBQ, Inc. is a full service, end to end E-Business solution provider. Through its subsidiaries, led by Quantum Technology Group, Inc., CBQ provides custom web-based software, including web portal design and development, networking services and security, as well as many other web-based solutions. The company also provides information technology outsourcing Information Technology Outsoucing or ITO is a company's outsourcing of computer or Internet related work, such as programming, to other companies. It is used in refence to Business Process Outsourcing or BPO, which is the outsourcing of the work that does not require so much resources to its clients. For more information on Quantum Technology Group, visit www.qnettech.com. ChinaSoft, Inc. is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of CBQ, Inc. that is a joint venture partner with CCSoft Technology Developing, Ltd., Beijing, China. Its services include Software Development for Enterprise computing and Internet development. For more information about CCSoft, visit www.ccsoft.com. China Partners is a subsidiary that is developing an Internet portal between the United States and China to facilitate international trade and investment opportunities between private sector companies as well as facilitating trade between the private sector and government owned industries in China. China Wireless, Inc. is an early stage subsidiary that is developing telecommunications projects in China. For more information on CBQ, Inc., visit www.cbq.com. This news release includes forward-looking statements related to CBQ, Inc. that involve risks and uncertainties, including, but not limited to, quarterly fluctuations in results, the management of growth, market acceptance of certain products and other risks. These forward-looking statements are made in reliance on the "safe-harbor" provisions of 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. For further information about these factors that could affect CBQ's future results, see the company's filings with the Securities and Exchange Commission (the "Commission"). Prospective investors are cautioned that forward-looking statements are not guarantees of future performance. Actual results may differ materially from management expectations. |
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