Computer Marketplace reports first-quarter results.CORONA Corona, city, United States Corona (kərō`nə), city (1990 pop. 76,095), Riverside co., S Calif.; inc. 1896. The city developed as a primary citrus fruit producer and shipping center. There is also light manufacturing. , Calif.--(BUSINESS WIRE)--Nov. 11, 1994--Computer Marketplace 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 :MKPL MKPL Mount Kisco Public Library (Mt Kisco, NY) ) Friday announced an increase of 112 percent in total revenues to $8,375,581 for its first quarter ended Sept. 30, 1994, vs. total revenues of $3,949,063 in the prior-year period. The company incurred a net loss in the three months of $117,598, or 1 cent per share, on 8,090,302 shares outstanding, compared with a profit of $104,159, or 1 cent per share, on 8,060,000 shares outstanding (adjusted for a 2-for-1 stock split in June 1994) in the first quarter last year. L. Wayne Kiley, chairman of the board, president and chief executive officer, commented: ``The dramatic growth in revenues that Computer Marketplace has been experiencing is directly due to the expansion of our sales force, and the outstanding job that everyone has done across all product lines. ``The investment in people and new offices in Michigan Michigan (mĭsh`ĭgən), upper midwestern state of the United States. It consists of two peninsulas thrusting into the Great Lakes and has borders with Ohio and Indiana (S), Wisconsin (W), and the Canadian province of Ontario (N,E). , Alabama Alabama, indigenous people of North America Alabama (ăləbăm`ə), indigenous people of North America whose language belongs to the Muskogean branch of the Hokan-Siouan linguistic stock (see Native American languages). and Texas added to our three California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). and our New Jersey offices, however, caused a significant increase in overhead expenses, which led to a small loss for the first quarter. ``Over the remainder of fiscal 1995, we hope to increase our margins with an emphasis on the most profitable sectors of our business, as well as incremental Additional or increased growth, bulk, quantity, number, or value; enlarged. Incremental cost is additional or increased cost of an item or service apart from its actual cost. income from our newer areas, which include networking activities at Superior Solutions Inc. and equipment sales at Medical Marketplace Inc.'' Computer Marketplace distributes new and used computer equipment on a nationwide basis to end users, dealers, computer-maintenance companies, leasing companies and equipment brokers. A specialist in delivering advanced technology, MKPL also sells and rents new and used medical equipment through its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Medical Marketplace Inc., and is a provider of networking solutions for companies through its wholly owned Novell Platinum dealer, Superior Solutions Inc. -0-
COMPUTER MARKETPLACE INC.
Summary Operating Results
(Unaudited)
Three months ended
Sept. 30,
1994 1993
Revenues $ 8,375,581 $ 3,949,063
Gross profit 1,032,569 636,962
Selling, general and administrative
expenses (1,128,971) (508,128)
Interest expense (30,159) (4,356)
Other income 8,963 29,681
Income (loss) before income taxes (117,598) 154,159
Net income (loss) (117,598) 104,159
Income (loss) per share (1 cent) 1 cent (a)
Weighted average number of shares
outstanding 8,090,302 8,060,000 (a)
(a) Reflects effect of 2-for-1 stock split on June 6, 1994.
CONTACT: Computer Marketplace Inc., Corona Mary McCarthy Noun 1. Mary McCarthy - United States satirical novelist and literary critic (1912-1989) Mary Therese McCarthy, McCarthy , 310/471-0643 |
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