CIS Technologies reports significant growth in revenue, operating income and net income for 1995.TULSA, Okla.--(BUSINESS WIRE)--Feb. 6, 1996--CIS Technologies, Inc. (Nasdaq/NM: CISI (company) CISI - A French software producer. ) today reported significant growth in revenue, 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. and net income for the year ended Dec. 31, 1995. Revenue for the year ended Dec. 31, 1995 increased 36% to 43.2 million compared to $31.7 million for the previous year. Operating income for 1995 was $3.9 million, compared to $2.3 million for the previous year, an increase of 70%. Net income for 1995 grew to $2.7 million, as compared to $2.2 million for the previous year, reflecting a 23% increase. For the quarter ended Dec. 31, 1995, revenue was $11.1 million, compared to $8.9 million for the same period of 1994, representing an increase of 25%. Operating loss operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. for the fourth quarter was $41,000, compared to 630,000 in operating income for the fourth quarter of 1994, for a decrease of 106%. The company incurred a fourth quarter 1995 net loss of $154,000, or $.00 per share, as compared with a net income of $660,000 or $.02 per share, for the fourth quarter of 1994. James L. Hersma, president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of CIS Cis (sĭs), same as Kish (1.) (1) (CompuServe Information Service) See CompuServe. (2) (Card Information S Technologies, said, "We are pleased with the year-end results even though our fourth quarter was impacted negatively by less than expected contract closings and delayed installations at our recently acquired clinical practice management (AMSC AMSC Army Management Staff College AMSC American Mobile Satellite Corporation AMSC American Miniature Schnauzer Club AMSC Area Maritime Security Committee AMSC Acquisition Method Suffix Code AMSC Advanced Missile Signature Center , Inc.) and managed care contract administration (Hospital Cost consultants, Inc.) businesses. We expect to continue integrating and transitioning these new businesses over the next few quarters. Our core businesses continue to produce reliable, recurring revenue for CIS." Philip D. Kurtz, chairman and chief executive officer, said, "The strategies we implemented in 1994 will prove to be vital elements for the long term growth of our company as we continue to create and acquire products and services capable of addressing the business office needs of today's evolving integrated healthcare delivery systems. Our strategy for acquisitions will remain to improve shareholder value through continued annual growth in revenue and operating income." CIS Technologies, Inc. is a full-service healthcare reimbursement and business office management company. CIS offers technology-based products and services that enable healthcare organizations to realize their full financial potential. Through proven methods to enhance business office efficiency, creative financing Creative Financing is a term used widely amongst real estate investors to refer to non-traditional means of real estate financing, or financing techniques not commonly used. alternatives, state-of-the-art managed care and clinical practice management systems, and EDI (Electronic Data Interchange) The electronic communication of business transactions, such as orders, confirmations and invoices, between organizations. Third parties provide EDI services that enable organizations with different equipment to connect. tools to reduce paperwork and administrative costs administrative costs, n.pl the overhead expenses incurred in the operation of a dental benefits program, excluding costs of dental services provided. , all participants in a healthcare delivery system realize benefits. Currently, CIS products and services are delivering value to healthcare organizations in the 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. and around the world, with more than 220 third party payers in the United States and 1,075 clients in 38 states, Canada, Great Britain, Australia and New Zealand New Zealand (zē`lənd), island country (2005 est. pop. 4,035,000), 104,454 sq mi (270,534 sq km), in the S Pacific Ocean, over 1,000 mi (1,600 km) SE of Australia. The capital is Wellington; the largest city and leading port is Auckland. . -0-
CIS Technologies, Inc.
Unaudited Financial Highlights
(In thousands, except per share amounts)
Three months Ended
December 31,
1995 1994
Revenue $11,069 $ 8,931 Operating income (loss) $ (41) $ 630 Net income (loss) $ (154) $ 660 Net income per share $ 0.00 $ 0.02
Year Ended
December 31,
1995 1994
Revenue $43,227 $31,689 Operating income $ 3,893 $ 2,337 Net income $ 2,674 $ 2,197 Net income per share $ 0.08 $ 0.08 CONTACT: CIS Technologies, Inc. Richard A. Evans, 918/496-2451 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion