Cambex reports second 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)--Aug. 12, 1996--Cambex Corp. today reported its financial results for the second quarter of 1996 ended June June: see month. 29, 1996. The company recorded revenues for the second quarter of $7,124,000 and had net income of $204,000, or $0.02 per share. Due to the change in the company's reporting year, the second quarter of 1996 is compared to the three month period ended June 3, 1995, the third quarter of the fiscal year ended August 31, 1995. For that period, revenues were $11,167,000 and net income was $93,000 or $0.01 per share. For the six months ended June 29, 1996, Cambex reported revenues of $15,144,000, compared to $21,679,000 reported for the six months ended June 3, 1995. Net loss of $784,000, or $0.09 per share, for the six months of this year compares to net income of $249,000, or $0.03 per share, for the comparable period of the previous fiscal year. "The company's cost structure is now at the right level. Our next task is to increase revenues for the remainder of the year," Joseph F. Kruy, Cambex's president and chief executive officer, commented. Cambex Corporation (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 :CBEX CBEX China Beijing Equity Exchange ) 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, RAID disk arrays, and tape storage systems 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) computing computing - computer environments.
Cambex Corporation
Second Quarter 1996
Financial Results
(Unaudited)
For the quarter For the six
ended months ended
June 29, June 3, June 29, June 3,
1996 1995 1996 1995
Revenues $7,124,000 $11,167,000 $15,144,000 $21,679,000 Income (Loss) before Income taxes $ 204,000 $155,000 $(784,000) $414,000 Provision for Income Taxes $ -0- $62,000 $-0- $165,000 Net income (Loss) $ 204,000 $93,000 $(784,000) $249,000 Net income (Loss) per common share $0.02 $ 0.01 $(0.09) $0.03 Weighted average shares outstanding 8,975,000 8,750,000 8,950,000 8,750,000 CONTACT: Cambex Corp. Sheldon M. Schenkler 617/890-6000 ext. 241 |
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