Datapoint Reports Fiscal First Quarter Results.SAN ANTONIO--(BUSINESS WIRE)--Dec. 10, 1998--Datapoint Corporation (EBB: DTPT) today released results for the first quarter of its fiscal year 1999, which ended Oct. 31, 1998. For the three months ended Oct. 31, 1998, Datapoint (company) DataPoint - An early minicomputer manufacturer which also developed ARCnet. Corporation had a net income of $87,000 from revenues of $32.7 million, versus a net loss of $33,000 on revenues of $35.1 million in the previous first quarter, which ended Nov. 1, 1997. Including extraordinary items and the effect of accumulated dividends Accumulated dividend A dividend that has reached its due date, but is not paid out. See: Cumulative preferred stock. accumulated dividend See dividends in arrears. due preferred shares Preferred shares Preferred shares give investors a fixed dividend from the company's earnings and entitle them to be paid before common shareholders. See: Preferred stock. , net loss per common share was $0.01, both basic and diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. in the first quarter of fiscal year 1999, as well as in the previous first quarter. Operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. was $237,000 in fiscal first quarter 1999, compared to $673,000 in the first quarter last year. As previously announced, the Board of Directors of Datapoint has retained financial advisors Dain Rauscher Wessels to explore various strategic opportunities for the Company. With its U.S. headquarters in San Antonio, Texas “San Antonio” redirects here. For other uses, see San Antonio (disambiguation). San Antonio is the second most populous city in Texas, the third most populous metropolitan area in Texas, and is the seventh most populous city in the United States. As of the 2006 U.S. , and international headquarters in Paris, France, Datapoint specializes in the design, integration, and maintenance of data, voice, and video communication solutions, and the Company markets products and services in 40 countries worldwide. Datapoint has a rich history of developing, designing and implementing leading-edge communications technologies Noun 1. communications technology - the activity of designing and constructing and maintaining communication systems engineering, technology - the practical application of science to commerce or industry , including call center, computer-telephony integration (CTI (Computer Telephone Integration) Combining data with voice systems in order to enhance telephone services. For example, automatic number identification (ANI) allows a caller's records to be retrieved from the database while the call is routed to the appropriate party. ) and distributed video conferencing See videoconferencing. (communications) video conferencing - A discussion between two or more groups of people who are in different places but can see and hear each other using electronic communications. products and services. This press release contains 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. that involve uncertainties, including, but not limited to, risks and uncertainties related to foreign currency translations, the competitive environment and other risks. Future trends and results may differ materially from disclosures contained in this release. -0-
Datapoint Corporation
December 10, 1998
SUMMARY OPERATING STATEMENTS
(In thousands, except per share data)
Quarter Ended
Oct. 31, 1998 Nov. 1, 1997
Revenue:
Sales $17,974 $19,503
Service and other 14,736 15,570
Total revenue $32,710 $35,073
Operating costs and expenses:
Cost of sales 13,642 15,429
Cost of service and other 10,562 9,897
Research and development 585 605
Selling, general and administrative 7,684 8,469
Total operating costs and expenses 32,473 34,400
Operating income $237 $673
Non-operating income (expense):
Interest expense (1,489) (1,576)
Other, net 112 809
Loss before income taxes and
extraordinary credit (1,140) (94)
Income taxes 57 113
Loss before extraordinary credit $(1,197) $(207)
Extraordinary credit - debt extinguishment 1,284 174
Net income (loss) $87 $(33)
Net income (loss) applicable to common
shareholders:
Net income (loss) $87 $(33)
Preferred stock dividends accumulated (181) (181)
Net loss applicable to common shareholders $(94) $(214)
Basic and Diluted Earnings (Loss) Per Common
Share:
Loss before extraordinary credit $(.08) $(.02)
Extraordinary credit .07 .01
Net loss per common share $(.01) $(.01)
Average common shares outstanding:
Basic and Diluted 18,101,316 17,812,596
Datapoint Corporation
December 10, 1998
SUMMARY BALANCE SHEETS
(In thousands)
Oct. 31, 1998 Aug. 1, 1998
Current assets:
Cash and cash equivalents $9,837 $12,453
Accounts receivable, net 32,054 32,138
Inventories 3,821 2,957
Other current assets 3,039 3,259
Total current assets 48,751 50,807
Fixed assets, net 6,536 9,468
Other assets, net 6,989 6,541
Total Assets $62,276 $66,816
Current liabilities $54,962 $61,376
Long-term debt and other 69,308 69,877
Stockholders' deficit (61,994) (64,437)
Total Liabilities and Stockholders'
deficit $62,276 $66,816
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