Compositech Ltd. Reports Third Quarter and Nine Months Results.HAUPPAUGE Hauppauge can refer to:
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 :CTEK), announced today its results for the third quarter and nine months ended Sept. 30, 1997. Total revenues for the third quarter ended Sept. 30, 1997 were $155,999, compared with $63,100 for the third quarter of 1996. Net loss for the quarter totaled $2,744,648 or $(0.42) per share, compared with $1,134,119, or $(0.19) per share for the third quarter ended Sept. 30, 1996. There were 6,465,097 and 6,013,353 shares used in computing computing - computer the net loss per share for the 1997 and 1996 quarters, respectively. For the nine months ended Sept. 30, 1997, total revenues were $411,467, compared with $158,152 for the nine months of 1996. Net loss for the nine month period was $5,535,582 or $(0.86) per share, compared with $3,341,017 or $(0.68) per share in the 1996 nine month period. There were 6,462,401 and 4,917,136 shares used in computing the net loss per share for the 1997 and 1996 nine months, respectively. In announcing the results, Fred (Friendly Rollabout Engineered for Doctors) A mobile medical conferencing unit. See videoconferencing. 1. FRED - Robert Carr. Language used by Framework, Ashton-Tate. 2. E. Klimpl, president of Compositech said, "The increased loss in the three- and nine-month periods includes increased manufacturing expenses of approximately $800,000 and $1,600,000, respectively, reflecting addition of manufacturing personnel and refinement of manufacturing processes to meet anticipated increases in sales levels. The three- and nine month periods also include approximately $862,000 and $976,000, respectively, of amortization of debt discount, a non-cash item." Klimpl added, "Sales in the quarter were affected by production constraints CONSTRAINTS - A language for solving constraints using value inference. ["CONSTRAINTS: A Language for Expressing Almost-Hierarchical Descriptions", G.J. Sussman et al, Artif Intell 14(1):1-39 (Aug 1980)]. and delays in customers' programs for which our laminates have been qualified. Over the last several months, production constraints have been reduced and our production capacity has increased. The enabling advantages of our laminates for complex multi-layer boards are becoming increasingly known to OEMs and circuit board fabricators. Our recently announced Canadian Canadian (kənā`dēən), river, 906 mi (1,458 km) long, rising in NE New Mexico. and flowing E across N Texas and central Oklahoma into the Arkansas River in E Oklahoma. joint venture to build a plant in Montreal is getting under way. This world-class plant will be an important second source for our laminates." Compositech Ltd. develops, produces and markets innovative and superior copper-clad fiberglass fiberglass, thread made from glass. It is made by forcing molten glass through a kind of sieve, thereby spinning it into threads. Fiberglass is strong, durable, and impervious to many caustics and to extreme temperatures. epoxy epoxy Any of a class of thermosetting polymers, polyethers built up from monomers with an ether group that takes the form of a three-membered epoxide ring. The familiar two-part epoxy adhesives consist of a resin with epoxide rings at the ends of its molecules and a curing laminates used to make printed circuit boards, which are essential components of personal computers, workstations, data communication and telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. equipment, automobiles and virtually all electronic equipment. -0- The statements made in this press release contain certain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 that involve a number of risks and uncertainties. Actual events or results may differ from the company's expectations. In addition to the matters described in this press release, risk factors listed from time to time in the company's SEC reports and filings, including, but not limited to, its report on Form 10-KSB for the year ended December 31, 1996, its Quarterly Report on Form 10-QSB for the quarter ended Sept. 30, 1997 and its Registration Statement on Form S-3 declared effective by the Securities and Exchange Commission on Nov. 4, 1997, may affect the results achieved by the company. -0- This release is available on the KCSA KCSA Krannert Center Student Association KCSA Kentucky Crushed Stone Association (Frankfort, KY) KCSA Kyiv City State Administration KCSA Kalamazoo Christian School Association KCSA Kentucky-Canadian Studies Association Worldwide website at www.kcsa.com. -0-
Compositech Ltd.
Financial Highlights
Three Months Ended Nine Months Ended
Sept. 30, Sept. 30,
1997 1996 1997 1996
Revenues $115,999 $63,100 $411,467 $158,152
Net (loss) ($2,744,648) ($1,134,119) ($5,535,582) ($3,341,017)
Net (loss) per
share ($0.42) ($0.19) ($0.86) ($0.68)
Shares used in
computing net
(loss) per share 6,465,097 6,013,353 6,462,401 4,917,136
CONTACT: Compositech Ltd. Fred Klimpl 516/436-5200 or KCSA Joseph A. Mansi/Leslie A. Schupak 212/682-6300 ext. 205/207 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion