Computone issues earnings correction for second quarter.ROSWELL Roswell (rŏz`wĕl), city (1990 pop. 44,654), seat of Chaves co., SE N.Mex., near the Pecos River; settled 1869 as a trading post, inc. 1903. It is the trade, marketing, and rail center of an irrigated farm area. , Ga.--(BUSINESS WIRE)--Nov. 21, 1994--Computone Corp. (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 :CMPT CMPT Computer Science (course) CMPT Compartment CMPT Compute CMPT Centre for Marine and Petroleum Technology (UK) CMPT Certified Manual Physical Therapist ), a leading designer and manufacturer of computer connectivity hardware and software, announced revised earnings for its second fiscal quarter ended Oct. 7, 1994. The company recorded an extraordinary item in the amount of $202,000, increasing per share earnings to $0.10 for the quarter. The company had originally reported earnings of $0.07 per share. When compared to the same quarter last year, sales revenues were $4.0 million vs. $3.2 million, an increase of 25%. Net income from continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the was $436,000 or $.07 per share with 6.2 million shares outstanding. This compares to $139,000 or $0.03 per share and 5.1 million shares outstanding at the end of the second quarter last year, an increase in per share earnings of over 133%. It was the seventh consecutive profitable quarter since the company underwent a comprehensive management change in November 1992. Thomas J. Anderson This article is about the author. For the composer, see T. J. Anderson. Thomas Jefferson Anderson ( November 10, 1910 - August 31 2001) was a conservative author, farmer, and candidate for the U.S. presidency. , Computone's president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , said that: "It is also worthy to note how dramatically the net worth of the company has improved. When the new management team took over, the company had a negative net worth of approximately $17 million. At the end of the first six months of fiscal 1995, Computone's net worth was over $4.5 million -- a positive swing of over $21 million." Due to the continued solid performance and growth over the past two years, the Years, The the seven decades of Eleanor Pargiter’s life. [Br. Lit.: Benét, 1109] See : Time company's stock has been given conditional approval for relisting on the NASDAQ Small-Cap Small-cap A stock with a small capitalization, meaning a total equity value of less than $500 million. small-cap 1. Of or relating to the common stock of a relatively small firm having little equity and few shares of common stock issues exchange beginning Wednesday, Nov. 23, 1994, under the symbol "CMPT." Computone attributed its success to an increased demand for its mainstream "IntelliPort II" line of expandable multi-user products. In addition, the company's "IntelliServer" Ethernet Ethernet Telecommunications networking protocol introduced by Xerox Corp. in 1979. It was developed as an inexpensive way of sending information quickly between office machines connected together in a single room or building, but it rapidly became a standard computer communications server See network access server, modem server, terminal server and communications controller. (operating system) Communications Server - IBM's rebranding of ACF. has quickly gained popularity as a LAN-connected or standalone stand·a·lone adj. Self-contained and usually independently operating: a standalone computer terminal. INTERNET access See how to access the Internet. device, capable of connecting local area networks to any part of the globe. In October, an enhanced release of the IntelliServer was introduced, making it the world's fastest and most powerful asynchronous communications server See ACS. for TCP/IP TCP/IP in full Transmission Control Protocol/Internet Protocol Standard Internet communications protocols that allow digital computers to communicate over long distances. local area networks (LANs). Celebrating its tenth anniversary, Computone produces a wide range of hardware and software connectivity products for wide-area networks Wide-area networks Communication networks that are regional, nationwide, or worldwide in geographic area, with a minimum distance typical of that between major metropolitan areas. Smaller networks include metropolitan and local-area networks. (WANs), local area networks (LANs), and multi-user computer systems. Computone was recently awarded Arthur Andersen's prestigious "Fast Tech 50" award for the second consecutive year. -0-
Computone Corp.
(in thousands)
Three Months Ended Three Months Ended
Oct. 7, 1994 Oct. 1, 1993
Net Revenues: $3,985 $3,197
Expenses:
Cost of Products Sold 2,169 1,807
Selling, general and
administrative 1,090 902
Product Development 283 325
3,542 3,034
Operating income from
continuing operations 443 163
Non-Operating income (expense): (7) (24)
Income from continuing
operations 436 139
Income from discontinued
operations -- 1,921
Income from extraordinary item 202 --
Net Income $ 638 $2,060
Net income per common share and
common share equivalents:
Income from continuing
operations 0.07 0.03
Income from discontinued
operations -- 0.38
Income from extraordinary item 0.03 --
Net income per common share $ 0.10 $ 0.41
Weighted average common shares
and common share equivalents
outstanding 6,205 5,071(a)
Six Months Ended Six Months Ended
Oct. 7, 1994 Oct. 1, 1993
Revenues:
Product Sales $7,390 $7,059
Royalties -- 882
Net Revenues: 7,390 7,941
Expenses:
Cost of Products Sold 4,180 4,173
Selling, general and
and administrative 2,071 1,889
Product development 575 654
6,826 6,716
Operating income from
continuing operations 564 1,225
Non-Operating Income (expense): (6) (78)
Income from continuing
operations 558 1,147
Income from discontinued
operations 86 1,921
Income from extraordinary item 202 --
Net income $ 846 $3,068
Net income per common share and
common share equivalents:
Income from continuing
operations 0.09 0.23
Income from discontinued
operations 0.01 0.38
Income from extraordinary item 0.03 --
Net income per common share $ 0.13 $ 0.61
Weighted average common shares
and common share equivalents
outstanding 6,205 5,057(a)
(a) Number of shares reflects a one-for-six reverse split of
outstanding shares of common stock on Nov. 30, 1993.
CONTACT: Computone Corp., Roswell
Donna Medford, 404/475-2725, ext. 278
404/664-1410 (fax)
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