Curtis Mathes Reports Financial Results for Quarter.DALLAS--(BUSINESS WIRE)--Nov. 13, 1997--Curtis Mathes Holding Corporation (Nasdaq:CRTM CRTM Core Root of Trust Measurement (TCG, TCPA) CRTM Computational Representational Theory of Mind (cognitive science) ) announced today its financials for the quarter ended September 30, 1997. Curtis Mathes reported a net loss of ($2,365,000), a decrease of $300,000 from the quarter ended June 30, 1997. For the quarter ended September 30, 1996, the company realized net income of $498,000. The net income for this quarter was a result of the recognition of a $1.2 million extraordinary gain for early payoff of debt. Operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. increased by $1,467,000 as compared to the same quarter last year, primarily due to increases in marketing , on-line service costs, and research and development costs related to both uniView(TM) and Curtis Mathes Xpressway(TM). This quarter is the first quarter for sales related to the company's new Internet See Web 2.0 and Internet2. products and services. Although revenues were not realized until late in the quarter, management is optimistic about the marketplace's acceptance of the company's new product lines. -0-
Quarters Ended
September 30, 1997 September 30, 1996
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Revenues $ 74,000 $ 2,090,000
Total net income (loss) (2,365,773) 498,000/a
Net income (loss) per share $ (0.06) $ 0.02
Weighted average shares
outstanding 39,076,264 26,481,800
/a Net income for the Quarter Ended September 30, 1996 includes the net effect of a $1.2 million dollar gain recognized upon early payoff of debt. Curtis Mathes has established an advanced standard for connectivity to Internet appliances by adopting leading technology from Sun Microsystems Sun Microsystems, Inc. (NASDAQ: JAVA[3]) is an American vendor of computers, computer components, computer software, and information-technology services, founded on 24 February 1982. , Inc., MCI (1) (Media Control Interface) A high-level programming interface from Microsoft and IBM for controlling multimedia devices. It provides commands and functions to open, play and close the device. (2) (Microwave Communications Inc. Telecommunications Corp. and Cisco Systems “Cisco” redirects here. For other uses, see Cisco (disambiguation). Cisco System,Inc. (NASDAQ: CSCO, HKSE: 4333 ) is an American multinational corporation with 54,000 employees and annual revenue of US $28.48 billion as of 2006. , Inc. It also has developed proprietary software enabling (programming) software enabling - (Or "enabling") Modification of the design or implementation of software to allow internationalisation to take place. In particular, enabling may refer to the modification of software to support double-byte character sets, hence "Unicode users to access the unique features of uniView. Curtis Mathes is a Dallas-based electronics engineering design and marketing company. The company also specializes in advanced television solutions, as well as other new interactive and connectivity technologies. For more information, visit the company's Web site at http://www.curtismathes.com . CONTACT: Investors: Curtis Mathes Holding Corporation, Dallas Investors: Neal Katz, 214/503-8880 Fax: 214/503-8515 or Media: Edelman Public Relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most Worldwide Reba Reid/Holly Vershum, 214/520-3555 |
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