Corporate Profile for 9278 Communications, Inc., dated Aug. 18, 2000.Business Editors --(BUSINESS WIRE) The following Corporate Profile is available for inclusion in your files. News releases for this client are distributed by Business Wire and also become part of the leading databases and online services, including all of the leading Internet-based services. -0-
Published Date: Aug. 18, 2000
Company Name: 9278 Communications, Inc.
Address: 1942 Williamsbridge Road
Bronx, N.Y. 10461 USA
Main Telephone
Number: 718/887-9278
Internet Home
Page Address
(URL) www.9278.com
Chief Executive
Officer: Sajid Kapadia
Chief Financial
Officer: Paul Sarcinella
Investor Relations
Contact: Ron de Jong
Business number: 877-787-1777
E-mail address: ir@9278.com
Public Relations
Contact: de Jong & Associates
Business number: 877-943-9065
E-mail address: ntse@dejong.org
Industry: ntse@dejong.org
Trading Symbol/
Exchange: OTCBB: NTSE
Market Makers: J. Alexander Securities, Inc., Fleet Trading,
WM. V. Frankel & Co., Inc., GVR Company, Hill Thompson Magid & Co Inc.,
Herzog, Heine Geduld, Inc., Ladenburg, Thalmann & Co., Inc.,
Schwab Capital Markets L.P., M.H. Meyerson & Co., Inc., Knight
Securities, Inc., Paragon Capital Corporation, Program Trading Corp.,
Sharpe Capital, Inc., Spencer Edwards, Inc., Wien Securities
Corp.
Company description: 9278 Communications Inc. is a value-added integrator (1) In electronics, a device that combines an input with a variable, such as time, and provides an analog output; for example, a watt-hour meter. (2) See systems integrator. of telecom services and technologies, specializing in the distribution of pre-paid telecom products including phone cards. 9278 currently has a network of over 300 master distributors, retailing over 100 different prepaid pre·pay tr.v. pre·paid, pre·pay·ing, pre·pays To pay or pay for beforehand. pre·pay  ment n. card products primarily in the New York New York, state, United StatesNew York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , New Jersey and Connecticut Connecticut, state, United States Connecticut (kənĕt`ĭkət), southernmost of the New England states of the NE United States. It is bordered by Massachusetts (N), Rhode Island (E), Long Island Sound (S), and New York (W). markets. Gross sales Gross Sales A measure of overall sales that isn't adjusted for customer discounts or returns, calculated simply by adding all sales invoices, and not including operating expenses, cost of goods sold, payment of taxes, or any other charge. for the year ended December 31, 1999 increased to $78,089,670 from $22,169,108 for 1998, an increase of 250%. Net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight for the six months ended June 30, 2000 rose 42% to $33,740,513 from net sales of $23,766,754 during the three months ended June 30, 1999. Gross profit increased 109% during the 2000 period to $1,738,112 from $832,330 for the 1999 period. The increase in gross profit was due to higher gross profit margins Gross profit margin Gross profit divided by sales, which is equal to each sales dollar left over after paying for the cost of goods sold. gross profit margin A measure calculated by dividing gross profit by net sales. achieved by the sale of private label phone cards, which increased during the current period. Net loss for the six months ended June 30,2000 was $385,932 but net income for the three months ended June 30, 2000 was $106,329. Included in the six months loss was a one-time charge of $363,367 primarily attributable to a write-off Write-Off A reduction in the value of an asset or earnings by the amount of an expense or loss. Companies are able to write off certain expenses that are required to run the business, or have been incurred in the operation of the business and detract from retained revenues. of goodwill as a result of the company's sale of assets acquired in the iLink acquisition. Stock High/low $6.50 December 13th, 1999 / $.625 October 19th, 1999 |
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