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CIMNET Announces Fiscal 2006 Fourth Quarter and Full Year Financial Results.


Annual revenues up 52%

WYOMISSING, Pa. -- CIMNET CIMNET Center for Information Management Network (R), Inc. (OTC OTC

See: Over-the-counter.


OTC

See over-the-counter market (OTC).
 BB:CIMK), a leading developer of Manufacturing Execution Systems

Manufacturing execution system (MES) describes a set of integrated functions within a packaged software system or it can also describe the accumulated functionality within the production management infrastructure of a manufacturing or production company.
 (MES (Manufacturing Execution Software) Software that provides real time access to plant activities that include equipment, labor, orders and inventory. An MES integrates the data with enterprise resource planning (ERP) systems so that management has complete control of ) and Manufacturing Intelligence software, today announced financial results for fiscal 2006 fourth quarter and full year ended December 31, 2006.

For the fiscal 2006 fourth quarter, CIMNET posted a 23% increase in total revenues of $1,257,337 compared with $1,024,674 for the same period last year. Net income for the fiscal 2006 fourth quarter was $599,529, inclusive of inclusive of
prep.
Taking into consideration or account; including.
 a $145,454 write-off for abandonment of lease hold improvements and property and equipment and $593,056 of deferred tax valuation benefit, equal to $0.08 per basic and $0.07 per diluted share compared with $98,674 or $.01 per basic and diluted share, in the comparable period last year.

For the full fiscal year ended December 31, 2006, total revenues increased 52% to $5,326,014 compared with $3,501,918 for the same period last year. Net income for the full fiscal year ended December 31, 2006, was $1,347,967, inclusive of a $145,454 write off for abandonment of lease hold improvements and property and equipment, an expense of $132,300 for stock based compensation in accordance with SFAS SFAS Statement of Financial Accounting Standards
SFAS Special Forces Assessment and Selection
SFAS Student Financial Aid Services
SFAS Sport Fishing Association of Singapore
SFAS Safety Features Actuation System
SFAS Statewide Fixed Assets System
 123R for options issued and vested during the period and $892,241 of deferred tax valuation benefit, equal to $0.18 per basic and $0.15 per diluted share compared with $98,675, equal to $0.01 per basic and diluted share, in the comparable period last year.

"I am very happy to report that fiscal 2006 proved to be a year of continued growth for CIMNET," stated John Richardson The name John Richardson can refer to:
  • John Richardson (football player)), Miami Dolphins
  • Sir John Richardson (naturalist) (1787-1865), Arctic explorer and naturalist
  • John Richardson (author) (1796–1852), Canadian novelist
  • John Richardson (actor) (b.
, Chief Executive Officer of CIMNET. "We put substantial effort into product development and increased our market penetration Noun 1. market penetration - the extent to which a product is recognized and bought by customers in a particular market
penetration - the act of entering into or through something; "the penetration of upper management by women"
 in discrete metals and the food and beverage F&B is a common abbreviation in the United States and Commonwealth countries, including Hong Kong. F&B is typically the widely accepted abbreviation for "Food and Beverage," which is the sector/industry that specializes in the conceptualization, the making of, and delivery of foods.  industries. Based on the current environment for information technology investment and other global economic dynamics, we are hopeful that our business will continue to grow during fiscal 2007."

Recent Highlights

* During the first quarter of 2007, CIMNET was selected by a food manufacturer and a primary metals manufacturer for MES implementations. In both cases it is expected that the companies will rollout in excess of 20 plants over a multiple year horizon.

* During 2006, CIMNET released and completed our first implementation of Factelligence for the Chinese market.

About CIMNET: CIMNET designs, markets and integrates software for manufacturing facilities. CIMNET's products allow manufacturing companies to schedule and monitor work flow in real time and reduce operating costs operating costs nplgastos mpl operacionales  by improving quality of products being produced. CIMNET's proprietary products, Factelligence[R] Industrial Portal[TM] and DNC DNC Democratic National Committee
DNC Democratic National Convention
DNC Do Not Call
DNC Delaware North Companies
DNC Domain Name Commissioner
DNC Direct Numerical Control
DNC Do Not Change
DNC Does Not Compute
DNC Digital Nautical Chart
 Professional[TM], are used by discrete and process manufacturers in the aerospace, automotive, discrete, pharmaceutical, medical devices, metal processing, food and beverage and consumer packaged goods Noun 1. packaged goods - groceries that are packaged for sale
foodstuff, grocery - (usually plural) consumer goods sold by a grocer

plural, plural form - the form of a word that is used to denote more than one
 industries. For more information about CIMNET products or services, go to their website at www.cimnet.com.

This press release contains certain forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934. When used in this release, the words "believe," "anticipate," "hope," "think," "intend," "plan," "will be," "expect," and similar expressions identify such forward-looking statements.

Such statements regarding future events and/or the future financial performance of the Company are subject to certain risks and uncertainties which could cause actual events or the actual future results of the Company to differ materially from any forward-looking statement.

Such risks and uncertainties include, among other things, the availability of any needed financing, the Company's ability to implement its business plan for various applications of its technologies, the impact of competition, the management of growth, and the other risks and uncertainties that may be detailed from time to time in the Company's reports or registration statements filed with The Securities and Exchange Commission.

In light of the significant risks and uncertainties inherent in the forward-looking statements included herein, the inclusion of such statements should not be regarded as a representation by the Company or any other person that the objectives and plans of the Company will be achieved.
COPYRIGHT 2007 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2007, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Article Type:Financial report
Date:Mar 29, 2007
Words:679
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