CTC Communications reports record revenues and earnings.WALTHAM, Mass.--(BUSINESS WIRE)--May 15, 1997--CTC Communications Corp. (NASDAQ-CPTL) today reported record revenue and earnings for the fiscal year ended March 31, 1997. The company announced net income of $4,683,000, or $0.43 per share, on revenues of $40,290,000 for the fiscal year ended March 31, 1997, as compared to a net income of $4,094,000, or $0.38 per share, on revenues of $30,876,000 for the fiscal year ended March 31, 1996. For the fourth quarter ended March 31, 1997, the company reported revenues of $11,472,000 and net income of $1,281,000 or $0.12 per share, as compared to revenues of $7,448,000 and net income of $1,281,000 or $0.12 per share, for the comparable period of fiscal 1996. Robert Fabbricatore, chairman and chief executive officer of CTC CTC - Cornell Theory Center Communications Corp. stated that the fiscal year 1997 record revenues and earnings are attributed to CTC's operational efficiency and the value added Value Added The enhancement a company gives its product or service before offering the product to customers. Notes: This can either increase the products price or value. services provided to its customers. He further stated that in fiscal year 1997 the company used 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. to fund a number of systems and operational improvements which will enable CTC's transition to a resale resale n. selling again, particularly at retail. In many states a "resale license" or "resale number" is required so that the state can monitor the collection of sales tax on retail sales. RESALE. environment and position the company for continued revenue and earnings growth. -0-
Three Months Ended
March 31, 1997 March 31, 1996
Network service revenue
Commissions $8,353,960 $5,733,234
Resale 3,117,822 1,715,098
Total Revenue 11,471,782 7,448,332
Net income 1,280,917 1,281,174
Earnings per share 0.12 0.12
Weighted shares outstanding 10,605,106 10,883,647
12 Months Ended
March 31, 1997 March 31, 1996
Network service revenue
Commissions $29,195,261 $25,492,511
Resale 11,094,838 5,383,414
Total Revenue 40,290,099 30,875,925
Net income 4,682,931 4,093,924
Earnings per share 0.43 0.38
Weighted shares outstanding 10,789,980 10,727,641
-0- Earnings per share and weighted shares outstanding for the periods indicated above reflect the 3-for-2 stock split declared on July 13, 1995, and the 2-for-1 stock split declared on Oct. 10, 1995. CTC Communications Corp. is a leading competitive marketer of telecommunications services In telecommunication, the term telecommunications service has the following meanings: 1. Any service provided by a telecommunication provider. 2. with an extensive array of voice, data, long distance and specialty network specialty network Single specialty network Managed care A loosely cohesive group of physicians specialized in one area of medicine–eg, cardiology, oncology, Ob/Gyn, ophthalmology, radiology, etc, who form a network to attempt to capture a segment of a Pt products and services. It specializes in the mid to large business market, is a single point of contact for their clients total communications needs, providing turnkey See turnkey system. network solutions and ongoing customer service and account management. CTC provides these services to over 5,000 business accounts, primarily in the Northeast through 20 geographically dispersed dis·perse v. dis·persed, dis·pers·ing, dis·pers·es v.tr. 1. a. To drive off or scatter in different directions: The police dispersed the crowd. b. branch offices. CONTACT: CTC Communications John D Pittenger, 617/466-1302 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 : pitt@ctcnet.com |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion