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Communications Central Inc. announces first quarter results for fiscal 1997.


ATLANTA--(BUSINESS WIRE)--Nov. 11, 1996--Communications Central Inc. (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
:CCIX CCIX Continuous Countercurrent Ion eXchange
CCIX Climatic Change Information Exchange
) today reported financial results for the first quarter of fiscal 1997.

The Company reported revenues of $26.8 million for the three months ended September September: see month.  30, 1996, a 2.3% decrease from $27.4 million in the same quarter a year ago. Coin revenue increased slightly as compared to the same period of fiscal 1996 even though the Company eliminated approximately 1,500 phones from its installed base. This reflects CCI's efforts to focus on more productive locations. Non-coin revenue decreased from fiscal 1996's comparable period primarily as a result of the continued impact of dial around activity in the market.

Net income for the first fiscal quarter was $3,255, down from $761,239 in the prior year period. Earnings per share reflect a break-even quarter, consistent with analysts' estimates, but down from $0.13 per share for the first quarter of fiscal 1996. Average shares outstanding for the first quarter were 6.1 million, compared to 6.0 million of the same period in fiscal 1996.

Rodger Rodger is a surname, and may refer to:
  • Alan Rodger, Baron Rodger of Earlsferry (born 1944), Scottish judge
  • George Rodger (1908–1995), British photojournalist
  • N. A. M.
 L. Johnson, CCI's president and chief executive officer, commented: "We are encouraged by our first quarter performance; we believe the turn around efforts begun last year are beginning to show results. Our payphone payphone
Noun

a coin-operated telephone

payphone pay nMünztelefon nt;
(card phone) → Kartentelefon nt

 division has returned to profitability, largely from cost controls and internal sales programs initiated over the past 12 months. As the Telecommunications Act There are several laws named the Telecommunications Act
  • Telecommunications Act of 1996 in the United States
  • Telecommunications Act (Canada)
  • Telecommunications Act 1997 in Australia
 of 1996 is implemented, we expect to receive compensation for all calls placed from our payphones, further enhancing our ability to compete. We are also focusing on the bad debt problems facing the inmate INMATE. One who dwells in a part of another's house, the latter dwelling, at the same time, in the said house. Kitch. 45, b; Com. Dig. Justices of the Peace, B 85; 1 B. & Cr. 578; 8 E. C. L. R. 153; 2 Dowl. & Ry. 743; 8 B. & Cr. 71; 15 E. C. L. R. 154; 2 Man. & Ry. 227; 9 B. & Cr.  calling industry, and have begun installing a direct billing direct billing Managed care The submission of bills for services rendered–eg lab work directly to the party–ie Pt or financially responsible third party–insurance company, for whom the service was performed, rather than to the physician who ordered the test  system in our Invision In`vi´sion

n. 1. Lack of vision or of the power of seeing.
 subsidiary to address this situation."

Founded in 1986 and headquartered in Atlanta Atlanta (ətlăn`tə, ăt–), city (1990 pop. 394,017), state capital and seat of Fulton co., NW Ga., on the Chattahoochee R. and Peachtree Creek, near the Appalachian foothills; inc. 1847.  CCI CCI Chambre de Commerce et d'Industrie (France)
CCI CAM (Complementary and Alternative Medicine) Citation Index
CCI Chamber of Commerce and Industry (Western Australia) 
 is a leading provider of payphones and inmate phones. The Company serves a broad range of government, corporate, and independent accounts. CCI currently owns and operates a network of approximately 26,000 payphones and inmate phones located in 41 states and the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). . -0-

                  COMMUNICATIONS CENTRAL INC.
            CONSOLIDATED STATEMENTS OF OPERATIONS
                         (UNAUDITED)


                                       Three Months Ended
                                          September 30
                                    1996                1995
REVENUES:

Coin Calls                      $ 9,335,378         $ 9,299,256
Non coin Calls                   16,833,061          17,125,508
Other                               623,619           1,011,564

TOTAL REVENUES                  $26,792,058         $27,436,328

COST AND EXPENSES:
Line access charges               7,962,685           9,518,605
Commissions                       5,455,151           5,812,700
Bad Debt Expense                  2,830,127           1,837,781
Service and Collection            4,114,239           3,830,662
Selling, general, and             1,820,989             841,964
administration
Depreciation and Amortization     2,956,326           3,058,666
                                $25,139,517         $24,900,378

Operating income (Loss)           1,652,541           2,535,950

Interest Expense                  1,649,286           1,520,965

Income (loss) before income tax       3,255           1,014,985
expense

Income tax expense (Benefit)          -                 253,746

Net Income (Loss)               $     3,255         $   761,239

Net Income (Loss) Per Share     $      0.00         $      0.13

Weighted average number of        6,054,556           6,039,808
shares outstanding


                     COMMUNICATIONS CENTRAL INC.
                     CONSOLIDATED BALANCE SHEET


                                   September 30,  June 30,
                                       1996         1996
                                   (Unaudited)    (Audited)
ASSETS

Cash                               2,084,005      2,266,327
Accounts Receivable, net          10,881,849     10,612,382
Other Current Assets               1,736,617      1,578,514

  Total Current Assets          $ 14,702,471   $ 14,457,223

Property and Equipment            45,269,400     46,373,476
Goodwill and Other Intangible     44,626,691     44,915,612
Assets, Net
Other Assets, net                  5,831,333      3,981,292

  TOTAL ASSETS                  $110,429,895   $109,727,603


LIABILITIES & STOCKHOLDERS'
EQUITY

Current Liabilities             $ 12,314,186   $ 12,993,274
Long-term Debt                    70,197,389     70,197,389
Notes Payable, Less Current           -              -
Portion
Stockholders' Equity              27,918,320     26,536,940

  TOTAL LIABILITIES &
    STOCKHOLDERS' EQUITY        $110,429,895   $109,727,603





CONTACT: Communications Central, Inc.

Rodger L. Johnson

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.

770/442-7312
COPYRIGHT 1996 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1996, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Nov 11, 1996
Words:651
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