Cambex Reports Third Quarter Results.WALTHAM Waltham (wôl`thăm, –thəm), city (1990 pop. 57,878), Middlesex co., E Mass., a suburb of Boston, on the Charles River; settled c.1634, set off from Watertown 1738, inc. as a city 1884. , Mass.--(BUSINESS WIRE)--Nov. 10, 1997--Cambex Corp. today reported its financial results for the third quarter of 1997, ended Sept. 27, 1997. The company recorded revenues for the third quarter of $1,225,000 and incurred a net loss of $1,684,000 or $0.18 per share. This compares to revenues of $4,193,000 and a net loss of $1,919,000 or $0.21 per share, for the third quarter of 1996, ended Sept. 28, 1996. For the nine months ended Sept. 27, 1997, Cambex reported revenues of $8,628,000 and a net loss of $3,480,000, which compares to revenues of $19,336,000 and a net loss of $2,703,000 for the comparable period of the prior year. Cambex Corp. is a leading supplier of direct access storage products used with IBM mainframe IBM mainframes, though perceived as synonymous with mainframe computers in general due to their marketshare, are now technically and specifically IBM's line of business computers that can all trace their design evolution to the IBM System/360. and client/server An architecture in which the user's PC (the client) is the requesting machine and the server is the supplying machine, both of which are connected via a local area network (LAN) or wide area network (WAN). computers. The company's products include memory, disk and RAID disk arrays employed by users in their highest performance IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) , Sun, HP and Windows NT (Windows New Technology) A 32-bit operating system from Microsoft for Intel x86 CPUs. NT is the core technology in Windows 2000 and Windows XP (see Windows). Available in separate client and server versions, it includes built-in networking and preemptive multitasking. computing computing - computer environments.
CAMBEX CORP.
THIRD QUARTER-1997
FINANCIAL RESULTS
(Unaudited)
For the quarter ended For nine months ended
Sept. 27, Sept. 28, Sept. 27, Sept. 28,
1997 1996 1997 1996
Revenues $ 1,225,000 $ 4,193,000 $ 8,628,000 $ 19,336,000
Cost of
Sales $ 1,095,000 $ 2,588,000 $ 5,794,000 $ 10,404,000
Operating
Expenses $ 1,619,000 $ 3,050,000 $ 6,050,000 $ 10,166,000
Other
Expense $ 195,000 $ 474,000 $ 264,000 $ 1,469,000
Income (loss)
before
Income
Taxes $ (1,684,000) $ (1,919,000) $ (3,480,000) $(2,703,000)
Provision
(Credit) for
Income
Taxes $ 0 $ 0 $ 0 $ 0
Net income
(Loss) $ (1,684,000) $ (1,919,000) $ (3,480,000) $ (2,703,000)
Net income
(Loss) Per
Common
Share $ (0.18) $ (0.21) $ (0.38) $ (0.30)
Weighted
Average
Shares
Outstanding $ 9,090,000 $ 9,000,000 $ 9,090,000 $ 8,975,000
CONTACT: Cambex Corp Sheldon
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