Cintech Announces Record 3rd Quarter Sales Growth and Break-even Earnings; Core ACD Products Now Sold Through Nortel.CINCINNATI, Ohio--(BUSINESS WIRE)--May 8, 1996--CINETECH(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : CTM ) Cintech Tele-Management Systems, Inc. again reported quarterly record revenues for the period ending March 31, 1996. Sales of US$2.36 million reflect record sales, a 91 percent increase over the comparable period of the prior year. The Company reported break-even earnings of US$0.00 per share, showing a slight net loss of US$(43,000) for the quarter, comparing favorably to a net loss of US$(497,000), or US$(0.04) on a per share basis, for the corresponding period of last year. "The third quarter was critical for Cintech in that we were able to increase revenues and maintain earnings while we transitioned our core products - PRELUDE and CINPHONY - to Northern Telecom's product catalog," commented Diane Kamionka, president and 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. . "As of March 25, 1996, PRELUDE and CINPHONY ACD (Automatic Call Distributor) A computerized phone system that responds to the caller with a voice menu and connects the call to the appropriate agent. It can also distribute calls equally to agents. (Automatic Call Distribution) are part of Northern Telecom's product portfolio and are being sold by Northern Telecom's Norstar sales team. The impact on our business is expected to be significant, and we invested resources in sales and technical training during the quarter to ensure a steady ramp in sales. The fact that we were able to maintain our financial performance during the early stages of our Nortel partnership indicates the potential of this relationship." Financial Results Highlights The company also reported US$1.38 million in gross profit for the third quarter, an 86 percent increase over the US$0.74 million gross profit reported for the same quarter in 1995. The quarter's gross profit margin Gross profit margin Gross profit divided by sales, which is equal to each sales dollar left over after paying for the cost of goods sold. gross profit margin A measure calculated by dividing gross profit by net sales. of 59 percent reflects a decline from the 60 percent realized for the corresponding period of the prior year. Selling, general and administrative expenses of US$1.44 million, reflect an increase over the US$1.28 million incurred for the same period in 1995. The Company's cash and marketable securities totaled approximately US$1.0 million at March 31, 1996 and the company had no outstanding debt obligations. Looking Ahead "The demand for JAZZ2000, our ACD for NEC's NEAX NEAX Nippon Electric Automated Exchange 2000 IVS (Integrated Voice Server), continues to grow," Kamionka added. "With this product, we expand our distribution and market for ACD in that JAZZ2000 will be sold through NEC (NEC Corporation, Tokyo, www.nec.com, www.necus.com) An electronics conglomerate known in the U.S. for its monitors. In Japan, it had the lion's share of the PC market until the late 1990s (see PC 98). NEC was founded in Tokyo in 1899 as Nippon Electric Company, Ltd. America and their distribution network throughout North America to businesses and departments with up to 500 telephone lines. We are working jointly with NEC to announce scheduled availability of JAZZ2000. "Our national distribution agreement with Tech Data Corporation (announced in March of this year) for OCTuS PTA PTA or parent-teacher association: see parent education. , was a strategic step in reaching computer retail distribution. Computer City, a division of Tandy Corporation, with over 90 superstores throughout North America, is merchandising OCTuS PTA in its communications category. The value of the Tech Data agreement in reaching key retailers is clearly apparent and will be instrumental in reaching our target market of the small office, home office (SOHO Soho (sōhō`, sə–), district of Westminster, London, England, known for its continental restaurants. Once a fashionable quarter, it became popular among writers and artists in the 19th cent. ) user." About Cintech Cintech, based in Cincinnati, Ohio, is a pioneer in PC-based telephony products for the small office, the branch office, and departments of larger companies. Since 1990, Cintech has been the main provider of Automatic Call Distribution (ACD) software for Northern Telecom's best selling, low-end telephone system, called Norstar. Cintech's ACD products for Norstar are distributed by Northern Telecom to all of the Regional Bell Operating Companies, Canadian provincial telephone companies, and the three largest U.S. independent telephone operating companies  This article has too many unnecessary external links.Please help Wikipedia by organising, removing or transferring them to other articles. In 1995, Cintech expanded into personal computer telephony software for the small office/home office See SOHO. market. An agreement with OCTuS, Inc. of San Diego, California “San Diego” redirects here. For other uses, see San Diego (disambiguation). San Diego is a coastal Southern California city located in the southwestern corner of the continental United States. As of 2006, the city has a population of 1,256,951. , made Cintech an exclusive North American distributor for OCTuS PTA (Personal Telecommunications Assistant), a Windows-based PC application that combines the power of the PC with the reach of the telephone. OCTuS PTA is sold through major PC retailers and systems integrators including Tech Data, Computer City, GrayBar and MicroWarehouse. The Company's news releases are now available through Canadian Corporate News' Internet Home Page: http://www.cdn-news.com CONTACT: Cintech Tele-Management Systems James Keller, 513/731-6000 http://www.cintech-cti.com |
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