DataWave Systems Quarterly Sales.VANCOUVER, British Columbia--(BUSINESS WIRE)--Nov. 5, 1997-- DataWave Systems Inc(VSE See DOS/VSE. VSE - Virtual Storage Extended :DTV (Digital TeleVision) Transmitting TV using digital signals. The major DTV standards are ATSC (North America), DVB (Europe) and ISDB (Japan). All three use MPEG-2 video compression and Dolby Digital audio compression. DVB and ISDB also include MPEG audio compression. .) (OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. :DWVSF) DataWave Systems Inc. (VSE-DTV/OTC- DWVSF) is pleased to announce record quarterly sales revenue of $4,299,378 for the three months ended September 30, 1997. This compares to revenues of $2,421,268 for the previous quarter ended June 30, 1997 and $1,038,606 for the comparative 1996 period. For the first time in the history of the company an operating profit Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. of $193,777 or ($0.008 per share) was generated for the quarter. -0-
3 months 3 months 6 months 6 months
ended ended ended ended
Sept 30,1997 Jun 30,1997 Sept 30,1997 Sept 30,1996
Revenue $4,299,378 $2,421,268 $6,720,646 $1,692,822
Percent
Increase 78 percent 297 percent
Operating
Income
(Loss) $ 193,777 $ (137,120) $ 56,657 $(1,664,630)
Earnings
per
share $ 0.008 $ (0.006) $ 0.002 $ (0.09)
"In this second quarter of record growth, revenues were 43 percent ahead of projections and profits were 130 percent more than expected. The turnaround the company is presently experiencing has been the direct result of the corporate reorganization and cost cutting measures implemented in February of this year, as well as the focus placed on growing the company's revenue base. The company has also continued to focus on its technology leadership and strengths resulting in increased market penetration and growth of its location base"...said Peter Hough n. 1. Same as Hock, a joint. v. t. 1. Same as Hock, to hamstring. [ imp. & p. p. os> r>; p. pr. & vb. n. os> n. 1. An adz; a hoe. v. t. 1. To cut with a hoe. , CFO See Chief Financial Officer. . "In February of this year, when I resumed the position of President & 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. , I took on the formidable task of turning this company around. The challenges were enormous, and the responsibility was great. I am extremely pleased that, within such a short period of time, the company is in a position to report such dramatic changes and achievements. More importantly the future looks even brighter" ...said Clive Barwin, CEO. DataWave Systems Inc. uses its proprietary technology to manufacture and operate unmanned "Electronic Merchandisers" which form part of a wide area network of intelligent machines that distribute prepaid goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. . DataWave currently distributes it's prepaid products in excess of 2500 retail locations in both the US and Canada. On Behalf of the Board Clive Barwin, CEO CONTACT: DataWave Systems Inc. Dave Hough, 604/ 874-1302 ext. 301 604/ 874-1503 (FAX) Email: info@datawave.ca Website: http://www.datawave.ca |
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