COLONIAL DATA REPORTS RECORD 1995 FOURTH QUARTER AND YEAR END FINANCIAL RESULTS; Annual Revenues Increase 101%.NEW MILFORD New Milford. 1 Town (1990 pop. 23,629), Litchfield co., W Conn., on the Housatonic River; inc. 1712. Situated in a dairy region, its manufactures include paper products and electronic equipment. , Conn.--(BUSINESS WIRE)--February 8, 1996--Colonial Data Technologies Corp. ("CDT CDT abbr. Central Daylight Time CDT Central Daylight Time CDT n abbr (US) (= Central Daylight Time) → hora de verano del centro; (BRIT ") (Nasdaq:CDTX), today reported financial results for the fourth quarter and year ended December December: see month. 31, 1995. For the fourth quarter ended December 31, 1995, CDT reported revenues of $21,054,000, an increase of 57% from $13,439,000, for the same period in 1994. For the quarter, gross profit and income from operations margins were 39% and 26%, respectively, compared with 36% and 20% for the same period in the previous year. Net income for the quarter increased 150% to $3,830,000 or $0.25 per share, compared with $1,534,000 or $0.12 per share, a year earlier. The weighted average common and common equivalent shares outstanding were 15,632,000 and 13,254,000 for the fourth quarter of 1995 and 1994, respectively. Revenues for the year ended December 31, 1995 reached a record $74,194,000, an increase of 101% from $36,829,000 for 1994. Net income for the year ended December 31, 1995 was $12,523,000 or $0.85 per share, an increase of 250% from $3,578,000, or $0.30 per share for the same period in 1994. Weighted average common shares were 14,722,000 and 11,806,000 for the years ended December 31, 1995 and 1994, respectively. Robert Robert, Henry Martyn 1837-1923. American army engineer and parliamentary authority. He designed the defenses for Washington, D.C., during the Civil War and later wrote Robert's Rules of Order (1876). Noun 1. J. Schock Schock is the surname of the following people:
"Compared to the same periods for 1994, the Company's revenues increased 101% for the year and were up 57% for the quarter. This growth was achieved while the Company improved both gross and operating margins Operating Margin A ratio used to measure a company's pricing strategy and operating efficiency. Calculated by: over the comparable annual and quarterly periods for 1994. Once again, the continued increased penetration 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. service by the Regional Bell Operating Companies The Regional Bell Operating Companies (RBOC) are the result of the U.S. Department of Justice antitrust suit against American Telephone & Telegraph. History and other telephone operating companies  This article has too many unnecessary external links.Please help Wikipedia by organising, removing or transferring them to other articles. He concluded, "During the fourth quarter, the Company completed two complementary transactions, an exclusive distribution agreement and an acquisition, which position it to compete in the small business systems and high-end consumer product markets. With national Caller ID availability, the small business market should expand and we now have a strong platform of products from which to serve that market. Through the creation of the G-tel Corp. subsidiary, we have expanded our access to the retail market and are able to offer advanced consumer products. Finally, with the introduction of the award winning Telesmart 4000 ADSI (Active Directory Services Interface) A programming interface from Microsoft for accessing the Microsoft Active Directory (Windows 2000), the directory within Exchange and other directories via providers. telephone and the Company's other innovative new product developments, the outlook for continued revenue and profit growth for 1996 is very bright." Separately, the Company also announced that it has been approved for listing of its common stock on the Nasdaq National Market. The Company shares will begin trading under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors CDTX on February 9, 1996. Currently, Colonial Data has approximately 15.4 million shares outstanding, which were traded on the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. under the symbol CDT. Colonial Data Technologies Corp. designs, develops and markets telecommunications products that support intelligent network services being developed and implemented by leading domestic and international telephone operating companies. The Company has concentrated its product development and marketing efforts on products that support Caller ID and other emerging intelligent network services. The Company markets an ADSI smart phone, Telesmart 4000, which provides consumers call management features and major new advances in interactive applications via telephone. Through its subsidiaries, the Company distributes small business systems with the Landmark trademark and high-end consumer equipment, including advanced cordless cord·less adj. Having no cord, usually using batteries as a source of power: a cordless telephone. cord products. The Company also repairs and refurbishes telecommunications products for commercial customers and provides services that support the development and implementation of intelligent network services. "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: This release contains forward looking statements that are subject to risks and uncertainties, including, but not limited to, the impact of competitive products and pricing, product demand and market acceptance, new product development, reliance on key strategic alliances, availability of raw materials, the telecommunications regulatory environment, fluctuations in operating results and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. -0-
COLONIAL DATA TECHNOLOGIES CORP.
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS
(In thousands, except per share data)
Three Months Ended Year Ended
December 31, December 31,
1995 1994 1995 1994
Revenues: Products $15,725 $ 7,956 $51,733 $22,016 Leases 4,775 4,530 20,325 11,630 Services 554 953 2,136 3,183 Total revenues 21,054 13,439 74,194 36,829 Cost of sales 12,890 8,551 44,240 24,228 Gross profit 8,164 4,888 29,954 12,601 Operating expenses: General and administrative 1,213 924 4,984 3,182 Selling and marketing 1,163 777 4,596 2,337 Research and development 383 496 1,476 782 Total operating expenses 2,759 2,197 11,056 6,301 Income from operations 5,405 2,691 18,898 6,300 Other income (expense), net 424 38 1,312 (132) Income before income taxes 5,829 2,729 20,210 6,168 Income taxes 1,999 1,195 7,687 2,590 Net income $3,830 $1,534 $12,523 $3,578 Net income per share $.25 $.12 $.85 $.30 Weighted average shares 15,632 13,254 14,722 11,806 -0-
COLONIAL DATA TECHNOLOGIES CORP.
CONDENSED BALANCE SHEETS
(In thousands)
December 31, December 31,
1995 1994
Assets: Cash and marketable securities $31,632 $14,013 Accounts receivable 16,069 5,102 Inventories 26,512 6,473 Other current assets 539 1,122 Total current assets 74,752 26,710 Noncurrent assets 11,653 6,423 Total assets $86,405 $33,133 Liabilities and Stockholders' Equity: Current liabilities $ 5,837 $ 2,780 Long-term debt --- 2,000 Stockholders' equity 80,568 28,353 Total liabilities and stockholders' equity $86,405 $33,133 CONTACT: Colonial Data Technologies Corp. John N. Giamalis Chief Financial Officer (860) 210-3000 or Morgen-Walke Associates, Inc. Investor Relations Investor relations The process by which the corporation communicates with its investors. Contact: Donna Stein/Evan Smith/Courtney Levi 212-850-5600 or Press Relations Contact: Lee Foley fo·ley n. 1. A technical process by which sounds are created or altered for use in a film, video, or other electronically produced work. 2. A person who creates or alters sounds using this process. 212-850-5600 |
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