Conolog Revises Upward Projected Record Second Quarter 2001 Revenues to $2.2 Million; Anticipates Record Six-Month Earnings of $0.7 Per Share.Business/Technology Editors SOMERVILLE, N.J.--(BUSINESS WIRE)--Feb. 9, 2001 Conolog Corporation (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 : CNLG, CNLGW) announced today that it is revising upward projected record second quarter 2001 revenues to $2.2 million, 47% over revenues reported for the same period last year. In addition, the Company anticipates revised record operating earnings Operating Earnings Profits after subtracting expenses such as marketing, cost of goods sold, administration and general operating costs from revenue. Notes: Tax and interest expenses are not subtracted - operating earnings are synonymous with EBIT (earnings before for the second quarter 2001 of $230,000, a 93% increase over operating earnings reported for the same period last year. The projected numbers do not reflect non-recurring revenues of $101,534 for the current fiscal year and $210,887 for fiscal 2000 generated from the sale of New Jersey State losses. The Company also announced that it expects revised record six months sales for the period ending January 31, 2001 of $3.9 million, a 68% increase over sales reported for the same period last year. Revised projected operating earnings for the six months ending January 31, 2001 are approximately $550,000, or $0.07 per share, compared to a ($280,000) operating loss operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. for the same period last year. Robert Benou, Conolog's president, commented, "The ability to revise upward our earlier projections for the second quarter 2001 support our conviction that the current fiscal year will bring record revenues and continuing profitability for Conolog. We will continue to seek out profitable acquisitions, like the recently acquired Prime Time Staffing and Professional Temp Solutions, to support our growth in the future." Conolog Corporation provides engineering and design services, technical personnel placement, and computer maintenance services to a variety of industries, government organizations, and public utilities nationwide. The Company's INIVEN division manufactures a line of digital signal processing See DSP. Digital Signal Processing - (DSP) Computer manipulation of analog signals (commonly sound or image) which have been converted to digital form (sampled). systems, including transmitters, receivers and multiplexers. 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. in this release are made pursuant to the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the Company's products, increased levels of competition, new products introduced by competitors, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission. |
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