Cellular Technical reports profitable second quarter.SEATTLE--(BUSINESS WIRE)--July 26, 1995--Cellular Technical Services Company Inc. (Nasdaq Symbol:CTSC CTSC Cathepsin CTSC Clinical and Translational Science Center (University of California at Davis) CTSC Chenega Technology Services Corporation CTSC Canadian Technical Security Conference (Burlington, ON, Canada) )("CTS (1) (Clear To Send) The RS-232 signal sent from the receiving station to the transmitting station that indicates it is ready to accept data. Contrast with RTS. (2) (Common Type System) The data typing used in . ") today announced financial results for the three- and six-month periods ended June June: see month. 30, 1995. Revenue for the second quarter was $3.77 million compared with $1.13 million reported in the same period last year. Net income for the period was $492,511, or $0.04 per share, compared with a net loss of $(524,660), or ($0.05) per share in the second quarter of 1994. The positive results were attributed primarily to revenues generated by the company's contracts for its Real-Time Data Real-time data denotes information that is delivered immediately after collection. There is no delay in the timeliness of the information provided. Some uses of this term confuse it with the term dynamic data. Collection and Distribution platform and software applications products with McCaw McCaw is a surname that may refer to:
Revenue for the six-month period ended June 30, 1995 was $7.24 million compared with $2.45 million in the first half of 1994. Net income for the first half of this year was $735,639, or $0.07 per share, compared with a net loss of ($1.1 million), or ($0.12) per share, in the same period last year. CTS President Bob Dahut The term Dahut or dahut can refer to:
"What we have learned as we aggressively pursue long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. strategic customer relationships in both the domestic and international markets, is that because of the advanced nature of our technology, in particular the Blackbird blackbird, common name in North America of a perching bird allied to the bobolink, the meadow lark, the oriole, and the grackle and belonging to the family Icteridae. The European blackbird, Turdus merula, is a thrush. (TM) precall platform and PreTect(TM) fraud interdiction INTERDICTION, civil law. A legal restraint upon a person incapable of managing his estate, because of mental incapacity, from signing any deed or doing any act to his own prejudice, without the consent of his curator or interdictor. 2. product, cellular carriers require more extensive testing than we had initially foreseen fore·see tr.v. fore·saw , fore·seen , fore·see·ing, fore·sees To see or know beforehand: foresaw the rapid increase in unemployment. . As a result, contract signings and the associated revenues have been delayed." Dahut said the company's expectations for second-half financial results are largely contingent upon Adj. 1. contingent upon - determined by conditions or circumstances that follow; "arms sales contingent on the approval of congress" contingent on, dependant on, dependant upon, dependent on, dependent upon, depending on, contingent its signing contracts and deploying systems for some of the carriers with whom the company is currently engaged for performance trials. "We expect the trials to be completed during the third and fourth quarters and we are concurrently con·cur·rent adj. 1. Happening at the same time as something else. See Synonyms at contemporary. 2. Operating or acting in conjunction with another. 3. Meeting or tending to meet at the same point; convergent. negotiating deployment Installing, setting up, testing and running. This military term, which means the placement of troops and equipment in the field, is widely used with computers as an alternate to the word "implementation. contracts with certain of these carriers while the systems are being tested." He noted that second half results could show a significant swing. "We expect a third quarter loss which may exceed $1 million. Our fourth quarter could result in a substantial gain, depending upon the timing of the signing of certain contracts and the related revenue recognition schedules, which would put full-year 1995 revenues and net income at more than double 1994 results - very strong growth though somewhat below our earlier expectations." Dahut said the company's outlook for the remainder of 1995 and for 1996 is "very positive, specifically in regard to expectations for signing contracts, building an order backlog Backlog The total value of sales orders waiting to be fulfilled. Notes: This figure is used mainly in the manufacturing industry. Increases or decreases in a company's backlog indicate the future direction of sales and earnings. and developing long-term relationships with a broad range of cellular carriers domestically and internationally." -0-
Cellular Technical Services Company Inc.
Statement of Operations
(unaudited)
Three Months Ended Six Months Ended
June 30, June 30,
1995 1994 1995 1994
REVENUES License and service fees $3,467,040 $873,365 $6,203,808 $1,777,305 Equipment sales 199,148 195,743 811,960 570,764 Interest income 106,558 63,212 225,542 106,248 TOTAL REVENUES 3,772,746 1,132,320 7,241,310 2,454,317 COSTS AND EXPENSES Cost of license and service fees 857,335 427,158 1,779,874 830,519 Cost of equipment sales 230,740 195,786 842,471 583,164 Sales and marketing 580,157 126,762 1,087,764 272,299 General and administrative 560,004 554,533 1,161,787 1,063,323 Research and development 1,042,000 342,741 1,618,777 802,623 TOTAL COSTS AND EXPENSES 3,270,236 1,656,980 6,490,673 3,551,928 NET INCOME (LOSS) BEFORE INCOME TAXES 502,510 (524,660) 750,637 (1,097,611) PROVISION FOR INCOME TAXES 10,000 15,000 NET INCOME (LOSS) $492,510 $(524,660) $735,637 $(1,097,611) NET INCOME (LOSS) PER SHARE $ .04 $ (.05) $ .07 $ (.12) WEIGHTED AVERAGE SHARES OUTSTANDING 11,343,690 9,674,072 11,211,517 9,380,699
Cellular Technical Services Company Inc.
Condensed Balance Sheets
(unaudited)
June 30, Dec. 31,
1995 1994
ASSETS CURRENT ASSETS Cash and cash equivalents $9,000,345 $9,041,985 Accounts receivable, net 1,585,456 1,746,801 Inventories, net 925,077 454,516 Prepaid expenses and other current assets 613,345 290,668 TOTAL CURRENT ASSETS 12,124,223 11,533,970 PROPERTY AND EQUIPMENT, net 1,945,626 1,336,915 SOFTWARE DEVELOPMENT COSTS, net 3,014,475 2,605,835 TOTAL ASSETS $17,084,324 $15,476,720 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable and accrued liabilities $1,344,197 $1,024,004 Payroll related liabilities 329,517 506,314 Deferred revenue and customers' deposits 492,153 220,631 TOTAL CURRENT LIABILITIES 2,165,867 1,750,949 STOCKHOLDERS' EQUITY 14,918,457 13,725,771 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $17,084,324 $15,476,720 CONTACT: Lippert/Heilshorn & Assoc. Laura Wilker, ext. 106 Bharti Bharti can refer to a number of Indian businesses:
212/838-3777 or Cellular Technical Services Company Inc. Joseph D. Pititto, 516/887-0494 |
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