Carnegie International Corp. Announces Six Month Results for 1998 of $0.075 After-tax Basic Earnings.HUNT VALLEY, Md.--(BUSINESS WIRE)--Sept. 15, 1998--Carnegie International Corp. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:CAGI CAGI Compressed Air & Gas Institute ) is pleased to announce that its company prepared statement of earnings for the quarter ended June 30, 1998 reflects pre-tax basic earnings of $1,766,386 or $0.045 per share. Total income for the second quarter was $4,732,799. The six month period reflects an after-tax basic earnings per share of $0.075. Carnegie is a holding company with three primary wholly owned subsidiaries in the telecommunications industry, Profit Thru Telecommunications (Europe) Limited (PTT (1) (Postal, Telegraph & Telephone) The governmental agency responsible for combined postal, telegraph and telephone services in many European countries. (2) See push-to-talk. PTT - Post, Telephone and Telegraph administration ), Talidan and ACC See adaptive cruise control. Telecom. PTT is a telecommunications software company providing business solutions utilizing proprietary speech recognition, touch tone and bar code responses to send and receive information. Talidan is a reseller, marketing telephone time for discounts in South America, Europe and other growth emerging markets. ACC Telecom sells, installs and services equipment manufactured by industry leaders such as COMDIAL, SONY, BELL SOUTH and SPRINT. 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 provides a "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. " for forward-looking statements. Certain information included in this Press Release (as well as information in oral statements or other written statements made or to be made by Carnegie International Corp.) contain statements that are forward looking, such as statements relating to the future anticipated direction of the telecommunications industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future, and accordingly, such results may differ from those expressed in any toward-looking statements made by or behalf of Carnegie International Corp. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, domestic and global economic conditions, changes in federal or state laws, and market competition factors. CONTACT: Carnegie International Corp. Lowell Farkas, president & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. 410/785-7400; Fax: 410/785-7412 http://www.carnegieint.com |
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