CE SOFTWARE HOLDINGS, INC. REPORTS FOURTH QUARTER AND YEAR END RESULTS.WEST DES MOINES West Des Moines (də moin`), city (1990 pop. 31,702), Polk co., S central Iowa, a growing suburb W of Des Moines; inc. 1893 as Valley Junction, renamed 1938. Products manufactured there include cement, metal items, and pumps. , Iowa--(BUSINESS WIRE)--Nov. 9, 1995--CE SOFTWARE HOLDINGS, INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . (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 NM Symbol: CESH) today announced results for the fourth quarter and fiscal year ended September 30, 1995. Revenues for the year ended September 30, 1995 were $12,919,000 as compared to $11,385,000 for 1994. Net loss for the year ended September 30, 1995 was $443,000, or $0.08 per share, compared to a net loss of $1,801,000, or $0.32 per share, one year ago. Revenues for the fourth quarter of fiscal 1995 were $3,023,000 as compared with $3,726,000 for the same quarter last year. Net loss for the fourth quarter of fiscal 1995 was $212,000, or $0.04 per share, compared to net earnings of $121,000, or $0.02 per share, for the same quarter one year ago. Ford Goodman Goodman was a polite term of address, used where Mister (Mr.) would be used today. Compare Goodwife. Goodman refers to:
The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. for the quarter by 14%. Unfortunately, this improvement was somewhat offset by a $246,000 loss from our 4-Sight, L.C. joint venture. Nonetheless, our balance sheet remains strong as we head into fiscal 1996, with both receivables Receivables An asset designation applicable to all debts, unsettled transactions or other monetary obligations owed to a company by its debtors or customers. Receivables are recorded by a company's accountants and reported on the balance sheet, and they and include all debts owed and inventories slightly down from last year and only $916,000 in long-term debt Long-Term Debt Loans and financial obligations lasting over one year. Notes: For example debts obligations such as bonds and notes which have maturities greater than one year would be considered long-term debt. ." Mr. Goodman continued, "While fourth quarter financial results were disappointing, we are extremely enthusiastic about our corporate direction and its growth potential. Our strategy remains focused -- to leverage off of our established presence in the E-Mail market to offer leading-edge workgroup applications solutions. This includes calendaring and scheduling group discussion and collaboration Working together on a project. See collaborative software. both for internal networks and over the Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the . Our recent acquisition of Common Knowledge's product and software technology indicates our commitment to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. this growing market. We plan to deliver various products using this acquired technology during the first half of fiscal 1996, and look forward to translating that strategy into improved revenues and earnings throughout fiscal 1996." CE SOFTWARE, INC., a subsidiary of CE SOFTWARE HOLDINGS, INC., develops and markets electronic mail, scheduling and workgroup applications software for Windows/DOS and Macintosh environments. With over 2.8 million users worldwide, CE Software has one of the largest installed bases of LAN-based software applications for workgroups. -0-
CE SOFTWARE HOLDINGS, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Operations
(In thousands, except per share data)
Three Months Ended Fiscal Year Ended
September 30 September 30
1995 1994 1995 1994
Net revenues $3,023 $3,726 $12,919 $11,385 Cost of revenues 472 448 2,015 1,497 Gross profit 2,551 3,278 10,904 9,888 Sales and marketing 1,229 1,432 5,027 4,027 General and administrative 881 1,018 3,759 3,244 Research and development 550 642 2,497 2,029 Write off of in-process research and development -- -- -- 3,440 Operating expenses 2,660 3,092 11,283 12,740 Operating (loss) income (109) 186 (379) (2,852) Other income (expense) total (222) (68) (303) 79 (Loss) income before income taxes (331) 118 (682) (2,773) Income tax benefit (119) (3) (239) (972) Net (loss) earnings $ (212) $ 121 $ (443) $(1,801) (Loss) earnings per share $ (0.04) $ 0.02 $ (0.08) $ (0.32) Average common shares outstanding 5,740 5,744 5,746 5,563 CONTACT: Investor Relations Investor relations The process by which the corporation communicates with its investors. Contact: John G. Nesbett Lippert/Heilshorn & Assoc. (212) 838-3777 Ext. 101 or Company Contact: Curtis W. Lack Chief Financial Officer (515) 221-2114 |
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