CIDCO Inc. announces record Q4 1994 results; Q4 sales increased 213 percent; net income up 171 percent; 1994 sales increased 187 percent; net income up 185 percent.MORGAN Morgan, American family of financiers and philanthropists. Junius Spencer Morgan, 1813–90, b. West Springfield, Mass., prospered at investment banking. HILL, Calif.--(BUSINESS WIRE)--Feb. 6, 1995--CIDCO 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 : CDCO CDCO Curriculum Design, Content and Organization CDCO Classified Document Control Office ) announced Monday Monday: see week. financial results for the fourth quarter ended Dec. 31, 1994. Fourth quarter sales were $34.7 million, an increase of 213 percent from sales of $11.1 million for the same period in 1993. Sales for 1994 were $100.3 million, an increase of 187 percent from sales of $35.0 million for 1993. Operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. for the fourth quarter of 1994 was $6.1 million, an increase of 177 percent from operating income of $2.2 million for the same period in 1993. Operating income for the year was $19.1 million, an increase of 181 percent from operating income of $6.8 million for 1993. Net income for the fourth quarter of 1994 was $3.8 million, an increase of 171 percent from net income of $1.4 million for the same period in 1993. For the year, net income was $11.7 million, an increase of 185 percent from net income of $4.1 million for 1993. Earnings per share for the fourth quarter were $0.27 versus $0.13 for the same period in 1993, an increase of 108 percent, and for the year were $0.90 versus $0.38 in 1993, an increase of 137 percent. On Dec. 9, 1994, the company completed a public offering of 1,875,650 shares of common stock at a price of $23.75 per share. Of the 1,875,650 shares, the company sold 1,500,000 shares and 375,650 shares were sold for selling stockholders. The company will use the net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). of $33,855,000 for working capital and general corporate purpose. The company did not receive any proceeds from the sale of shares by selling stockholders. CIDCO CIDCO City and Industrial Development Corporation (Mumbai, India) Inc. is the world's leading supplier of Caller ID A telephone company service that sends the caller's telephone number between the first and second ring of the call. If the calling number is not blocked, the calling number is displayed on the handset or base station of the called party. - based subscriber subscriber, n the person, usually the employee, who represents the family unit in relation to the prepayment plan. Other family members are dependents. Also called certificate holders or enrollees. telephone equipment that supports intelligent network services that are being introduced by telephone operating companies  This article has too many unnecessary external links.Please help Wikipedia by organising, removing or transferring them to other articles. n a drug or other substance that serves a supplemental purpose in therapy. adjunct units of which over 4 million units have been sold to date. The company's product line is expanding to include additional telephony Meaning "sound over distance," it refers to electronically transmitting the human voice. In the beginning, telephony dealt only with analog signals in the circuit-switched networks of the telephone companies. products such as the CT100, an Integrated CLASS Feature Telephone. -0-
CIDCO Inc.
Statement of Operations
(in thousands, except per share data)
Three Months Ended Twelve Months Ended
Dec. 31, Dec. 31,
1993 1994 1993 1994
Sales $11,124 $34,699 $34,993 $100,290 Cost of sales 6,219 20,228 18,687 55,227 Gross margin 4,905 14,471 16,306 45,063
Operating expenses:
Research and development 677 1,419 3,740 5,175
Selling and marketing 1,585 5,981 4,585 17,438
General and
administrative 461 966 1,209 3,326
Total operating expenses 2,723 8,366 9,534 25,939
Income from operations 2,182 6,105 6,772 19,124
Other income (expense),
net (19) 263 (115) 634
Income before income
taxes 2,163 6,368 6,657 19,758
Provision for income
taxes (proforma 1993) 794 2,611 2,512 8,101
------- ------- ------- -------
Net income $ 1,369 $ 3,757 $ 4,145 $11,657
======== ======= ======= =======
Earnings per share $ 0.13 $ 0.27 $ 0.38 $ 0.90 Shares used in per share calculations 10,777 13,796 10,777 13,020
CIDCO Inc.
Condensed Balance Sheet
(in thousands)
Dec. 31, Dec. 31,
1993 1994
Assets:
Cash and marketable securities $ 475 $ 48,160
Net accounts receivable 8,249 34,880
Net inventories 4,653 14,491
Other current assets 821 3,764
Property and equipment, net 1,225 7,303
------- --------
Total assets $15,423 $108,598
Liabilities and stockholders' equity:
Current liabilities $ 7,941 $ 27,292
Stockholders' equity 7,482 81,306
------- --------
Total liabilities and stockholders'
equity $15,423 $108,598
-0- CONTACT: CIDCO Inc., Morgan Hill Scott C. McDonald, 408/779-1162; Fax: 408/779-2612 |
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