CKS Group, Inc. Announces Second Quarter Fiscal 1996 Results; Company Reports 57% Year Over Year Increase in Revenues.CUPERTINO Cu·per·ti·no A city of western California west of San Jose. It has an electronics industry. Population: 50,000. , Calif.--(BUSINESS WIRE)--June 7, 1996--CKS Group, 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 :CKSG) today announced that revenues for the second quarter of fiscal 1996, ended May 31, 1996, reached $13.75 million, an increase of 57% from revenues of $8.74 million recorded in the same period of the prior year. The company reported net income of $1.30 million, or $0.10 per share, an increase of 303% from net income of $323,000, or $0.03 per share, for the second quarter of fiscal 1995. Revenues for the six months, ended May 31, 1996, were $22.90 million, an increase of 53% from $14.94 million for the first six months of fiscal 1995. Net income for the first six months of fiscal 1996 was $2.04 million, or $0.16 per share, an increase of 399% from net income of $409,000, or $0.04 per share, for the comparable period in the prior year. New media services contributed 33% to total revenues in the second quarter. Revenues attributable to new media services increased 68% in the second quarter as compared to the first quarter of fiscal 1996. Revenue from traditional marketing communication services rose 43% in the second quarter over the first quarter of fiscal 1996. "Our second quarter results not only demonstrate profitable growth and an acceleration in our new media services, but that our strategy of offering integrated marketing communication solutions that leverage technological innovation continues to give us a strong position in the marketplace," commented Mark D. Kvamme, CKS CKS Checks CKS Center for Korean Studies (UC Berkeley) CKS Center for Knowledge Societies CKS Carajas, Para, Brazil - International / Brasilia Brazil (Airport Code) CKS Crankshaft Sensor Group's chairman and chief executive officer. Some of the new business highlights for CKS Group CKS Group was an advertising agency based in Cupertino, California, catering to technology companies. The initials CKS came from the three name partners, Bill Cleary, Mark Kvamme, and Tom Suiter. All three had previously worked for Apple Computer. , Inc. in the second quarter included integrated marketing communication projects for new and existing clients including MCI (1) (Media Control Interface) A high-level programming interface from Microsoft and IBM for controlling multimedia devices. It provides commands and functions to open, play and close the device. (2) (Microwave Communications Inc. , Microsoft (Microsoft Corporation, Redmond, WA, www.microsoft.com) The most successful and influential software company. Microsoft's software and Intel's hardware pioneered the PC and revolutionized the computer industry. , Fujitsu (company) Fujitsu - A Japanese elecronics corporation. Fujitsu owns ICL, Amdahl Corporation, and DMR. Home USA, Japan. Computer, Columbia Columbia, cities, United States Columbia (kəlŭm`bēə). 1 City (1990 pop. 75,883), Howard co., central Md., between Washington, D.C., and Baltimore. TriStar Home Video, National Semiconductor, Amazon.com, Widmer Brothers Brewing brewing: see beer. Company and Yes! Entertainment, as well as the development of World Wide Web sites for Citibank, MCI, Apple Computer, Visa International, Mitsubishi Motors Mitsubishi Motors Corporation (三菱自動車工業株式会社 , Clinique Laboratories, Dial Corporation and Prudential Prudential is the name of two different companies and buildings named after them: Companies:
CKS Group Inc., headquartered in Cupertino, Calif., specializes in offering a wide range of integrated marketing communication services that help companies market their products, services and messages. The integrated marketing communication services CKS provides include strategic corporate and product positioning, corporate identity and product branding, new media, packaging, collateral systems, advertising, direct mail, consumer promotions, trade promotions and media placement services. CKS Group is a provider of integrated marketing communication programs that utilize advanced technology solutions and new media -- which CKS Group defines as media that delivers content to the end users in digital form, including the World Wide Web, 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 , proprietary online services, CD-ROMs, laptop Same as laptop computer. laptop - portable computer PC presentations and interactive kiosks An Interactive kiosk is a computer terminal that provides information access via electronic methods. Interactive kiosks sometimes resemble telephone booths, but can also be used while sitting on a bench or chair. . CKS Group, Inc. has offices in Silicon Valley, San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , Portland, New York Portland is a town in Chautauqua County, New York, United States. The population was 5,502 at the 2000 census. The Town of Portland is on the shore of Lake Erie west of the City of Dunkirk. History The region was first settled in 1804. and Washington, D.C. -0-
CKS Group, Inc. and Subsidiaries
Consolidated Statements of Income
(In thousands, except per share data)
Three Months Ended Six Months Ended
May 31 May 31
1996 1995 1996 1995
Revenues $13,745 $8,738 $22,895 $14,938 Operating expenses: Direct salaries and related expenses 3,797 2,599 6,775 4,651 Other direct operating expenses 5,232 3,558 8,459 5,810 General and administrative expenses 3,195 2,008 5,284 3,714 Total operating expenses 12,224 8,165 20,518 14,175 Operating income 1,521 573 2,377 763 Other income (expense) 515 3 774 (33) Income before income taxes 2,036 576 3,151 730 Income taxes 734 253 1,106 321 Net income $ 1,302 $ 323 $2,045 $ 409 Net income per share $ 0.10 $ 0.03 $ 0.16 $ 0.04 Shares used in per share computation 13,361 10,765 13,147 10,720
CKS Group, Inc. and Subsidiaries
Condensed Balance Sheets
(dollars in thousands)
May 31, Nov. 30,
1996 1995
ASSETS Current assets: Cash and cash equivalents $ 38,960 $ 2,327 Accounts receivable, net of allowances 10,744 7,203 Fees and expenditures in excess of billings 1,669 471 Prepaid expenses and other current assets 924 1,095 Total current assets $ 52,297 $11,096 Property and equipment, net 3,398 2,590 Total assets 55,695 $13,686 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 4,652 $ 3,681 Accrued expenses 3,373 2,371 Billings in excess of fees and expenditures 1,879 959 Current portion of notes payable and capital lease obligations 327 316 Income taxes payable 381 972 Total current liabilities $ 10,612 $ 8,299 Noncurrent portion of notes payable and capital lease obligations 311 412 Deferred income taxes 256 380 Total liabilities $ 11,179 $ 9,091 Stockholders' equity: Common stock 13 10 Additional paid-in capital 40,253 2,380 Notes receivable from stockholders (292) (292) Retained earnings 4,542 2,497 Total stockholders' equity $ 44,516 $ 4,595 Total liabilities and stockholders' equity $ 55,695 $13,686 CONTACT: CKS Group Inc. Gina Bianchini, 408/342-5333 E-mail: gbianchini@cks.com |
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