Communication Intelligence Corp. 1995 Fiscal Results.REDWOOD SHORES, Calif.--(BUSINESS WIRE)--March 15, 1996-- Communication Intelligence Corp. (CIC CIC circulating immune complexes. CIC Circulating immune complexes. See Immune complexes. )(OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :CICI CICI Cochlear Implant Club International ) today announced its financial results for the fourth quarter and the fiscal year ended Dec. 31, 1995. Revenues for the fourth quarter ended Dec. 31, 1995 were $718,000, up from $635,000 in the comparable quarter of the prior year. Fourth quarter total revenues were also up to 12% over 1995 third quarter revenues. The net loss for the quarter was $1.4 million compared to a net loss of $2.3 million in the corresponding quarter of the prior year. Net loss per share was $0.04 on 36.7 million weighted average common shares compared to a per share net loss of $0.10 on 22.7 million weighted average common shares for the same quarter of the previous year. Revenues for the 1995 fiscal year were $2.3 million, down from $3.6 million for the corresponding prior year, primarily due to a change in sales strategy for CIC's desktop peripheral products, Handwriter for Windows and MacHandwriter. Direct, in-house sales of these products were discontinued and emphasis was shifted to developing sales alliance partners for the retail channels. The fiscal 1995 net loss was $5.6 million, or $0.16 per share, as compared to a net loss of $11 million, or $0.53 per share, in fiscal 1994. The company's total operating costs operating costs npl → gastos mpl operacionales and expenses decreased to $7.8 million in fiscal 1995 from $14.5 million in fiscal 1994. This primarily reflects decreased staffing and direct marketing expenses as a result of the company's change in sales strategy for its Handwriter for Windows and MacHandwriter desktop peripheral products. The company's cash and short-term investment position at December 31, 1995 was $7.5 million compared to $4.1 million at the end of 1995. Deferred revenue from advance license fee payments declined slightly to $2.6 million in 1995 compared to $2.8 million in 1994. Other current liabilities Other Current Liabilities A balance sheet entry used by companies to group together current liabilities that are not assigned to common liabilities such as debt obligations or accounts payable. such as short-term debt Short-term debt Debt obligations, recorded as current liabilities, requiring payment within the year. , accrued compensation and accounts payable totaled $2.4 million at December 31, 1995 compared to $2.6 million for 1994. Long-term liabilities Long-Term Liabilities Recorded on the balance sheet, a company's liabilities for leases, bond repayments and other items due in more than one year. Notes: A company's long-term liabilities are accounted for by its debt obligations to other parties which last longer than decreased to $830,000 at December 31, 1995 versus $2.1 million at the 1994 year-end. -0-
COMMUNICATION INTELLIGENCE CORPORATION
Selected Consolidated Statement of Operations Information
(Dollars in thousands, except per share amounts)
Three Months Ended Twelve Months Ended
(unaudited)
12/31/95 12/31/94 12/31/95 12/31/94
Revenue $ 718 $ 635 $ 2,314 $ 3,599 Net loss $(1,414) $(2,302) $(5,595) $(11,048) Net loss per common share $ (0.04) $ (0.10) $ (0.16) $ (0.53) Weighted avg. shares outstanding 36,713 22,754 34,621 20,746
Selected Consolidated Balance Sheet Information
(Dollars in Thousands)
12/31/95 12/31/94
Cash & short-term investments $7,459 $ 4,088 Total current assets 8,699 4,716 Total assets 9,776 6,171 Deferred revenues/a 2,570 2,754 Total current liabilities/b 4,936 5,321 Long-term obligations 830 2,069 Stockholders' equity 4,010 (1,219)
(a) Deferred revenue consists principally of advance royalty
payments from licensees
(b) Includes deferred revenue -0- The Company Communication Intelligence Corporation (CIC) develops, markets, and licenses natural input computer technology -- products that use pen and image for input. Founded in 1981, CIC is a leading supplier of pen computing See gesture recognition and tablet PC. products to hardware manufacturers throughout the world, particularly its multilingual mul·ti·lin·gual adj. 1. Of, including, or expressed in several languages: a multilingual dictionary. 2. Hardwriter Recognition System and Handwriter Dynamic Signature Verification software, PenDOS and PenMac pen operating environments In computing, an operating environment is the environment in which users run programs, whether in a command line interface, such as in MS-DOS or the Unix shell, or in a graphical user interface, such as in the Macintosh operating system. . CIC also markets the Handwriter for Windows and MacHandwriter peripheral products, enabling users to have pen computing capabilities on their desktop personal computers. CIC is headquartered in Redwood Shores, Calif., and has subsidiaries in Japan and China. CIC's stock is publicly traded on the OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. , symbol CICI. CONTACT: Communication Intelligence Corp. Maurice Boucher Maurice "Mom" Boucher (born June 21, 1953) is a high-ranking Hells Angels member and a Canadian convicted criminal. Born in Causapscal, Quebec, Canada, and raised in the tough Hochelaga-Maisonneuve section of Montreal, where his family moved when he was two years old, , 604/689-8588 |
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