Contour Telecom Management Inc. Quarterly Results.TORONTO--(BUSINESS WIRE)--March 3, 1998--Contour Telecom Mana(CANADIAN DEALING NETWORK Canadian Dealing Network (CDN) The organized OTC market of Canada. Formerly known as the Canadian Over-the-Counter Automated Trading System (COATS), the CDN became a subsidiary of the Toronto Stock Exchange in 1991. :CTUR CTUR Confederated Tribes of the Umatilla Reservation (Washington) .) Contour Telecom Management Inc. announced today its financial results for the quarter ended December 31, 1997: -0-
(000's except earnings per share)
Three months to December 31
1997 1996
Revenue $8,657 $7,544
Profit (loss), continuing
operations (28) (184)
Profit (loss), discontinued
operation(2) (88) (115)
Net profit (loss) $ (116) $ (299)
Earnings per share, continuing
operations (0.01) (0.04)
Earnings per share, discontinued
operation (0.01) (0.02)
Earnings per share $(0.02) $(0.06)
Average shares outstanding 6,772 4,741
Year Six Months
ended ended
December 31 December 31
1997 1996
Revenue $33,280 $14,638
Profit (loss), continuing
operations (675) (314)
Profit (loss), discontinued
operation (289) (223)
Net profit (loss) $ (964) (537)
Earnings per share, continuing
operations (0.11) (0.06)
Earnings per share, discontinued
operation (0.05) (0.05)
Earnings per share $ (0.16) $ (0.11)
Average shares outstanding 5,930 4,741
(1)Contour acquired the telecom management services division of TSB TSB TPS (Thermal Protection System) Sample Box TSB Technical Service Bulletin TSB Transportation Safety Board of Canada TSB Telecommunication Standardization Bureau TSB Trustee Savings Bank TSB Telecommunications Systems Bulletin International Inc. on June 30, 1996. Prior to this date the Company had no operations. (2) On December 16, 1997 the Company resolved to discontinue dis·con·tin·ue v. dis·con·tin·ued, dis·con·tin·u·ing, dis·con·tin·ues v.tr. 1. To stop doing or providing (something); end or abandon: the operation of its US subsidiary. It subsequently laid off all US staff except those involved in its remaining service delivery contract, which is expected to terminate during 1998. The estimated $48,000 cost of winding down the US subsidiary is included in the reported fourth quarter loss from the discontinued operation discontinued operation A segment of a business that has been abandoned or sold or for which plans for one or another of these actions have been approved. See also continuing operations. . In the fourth quarter, revenues from continuing 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. operations were 15 percent higher than in the prior year, while the loss was 85 percent lower. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Jeremy Purbrick, Contour's Chairman and 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. , "Although I consider the 1997 loss of $675,000 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 disappointingly high, I am very encouraged that we incurred only $28,000 of that loss in the fourth quarter, and that we were profitable in December." Contour manages organizations' telecommunications facilities In telecommunication, the term facility has the following meanings: 1. A fixed, mobile, or transportable structure, including (a) all installed electrical and electronic wiring, cabling, and equipment and (b) all supporting structures, such as utility, ground network, and costs to client-specified service levels. The company uses a unique, structured approach to telecom management, emphasizing superior service and lower costs. Contour markets its services directly to major corporations in Canada. Contour is based in Toronto and its shares are traded on the Canadian Dealing Network under the symbol 'CTUR'. CONTACT: Contour Telecom Management Inc. Jeremy Purbrick, 416/622-0240 Ext. 203 |
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