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:
Noun a coin-operated telephone payphone pay n → Münztelefon 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
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 |
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