Datapoint Reports Second Quarter Results: Significant Improvement in Operating Income.SAN ANTONIO San Antonio (săn ăntō`nēō, əntōn`), city (1990 pop. 935,933), seat of Bexar co., S central Tex., at the source of the San Antonio River; inc. 1837. , Texas--(BUSINESS WIRE)--March 9, 1998--Datapoint Corporation (NYSE NYSE See: New York Stock Exchange :DPT) today reported 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. of $1,950,000 for its second quarter, which ended January January: see month. 31, 1998, compared to an operating loss operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. of $292,000 in its second quarter of last year. Revenue during the second quarter of 1998 increased $6.2 million or 18 percent to $40,444,000, compared with the same period of the prior year. The company reported net income of $2,344,000 on revenues of $40,444,000 for the quarter. After deducting a provision for preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. dividends, basic earnings per share was $.12. This compares to net income of $295,000 and basic earnings per share after deducting a provision for preferred stock dividends of $.25 per share on revenues of $34,281,000 for the same period in the prior year. Included in last year's earnings per share computation Computation is a general term for any type of information processing that can be represented mathematically. This includes phenomena ranging from simple calculations to human thinking. is $.24 per share attributable attributable emanating from or pertaining to attribute. attributable proportion see attributable risk (below). attributable risk to a gain on the exchange and retirement of preferred stock. For the first six months of fiscal year 1998, the company had operating income of $2.6 million and net income of $1.5 million, compared to an operating loss of $2.2 million and net loss of $1.3 million for the same period last year. Included in the non-operating income for the second quarter of fiscal year 1998 are $2 million of foreign currency transaction gains due to a strong U.S. dollar. This compares to transaction gains of $2.2 million for the same period last year. These gains on short term intercompany notes and international subsidiary U.S. dollar denominated cash are offset by translation adjustment to Stockholders Equity and therefore have no impact on the company's financial position. Blake Thomas (language) Thomas - A language compatible with the language Dylan(TM). Thomas is NOT Dylan(TM). The first public release of a translator to Scheme by Matt Birkholz, Jim Miller, and Ron Weiss, written at Digital Equipment Corporation's Cambridge Research Laboratory runs , president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Datapoint (company) DataPoint - An early minicomputer manufacturer which also developed ARCnet. said, "We are very pleased to report the significant increase in operating income in our second quarter. Year-over-year second quarter operating income improved by $2.2 million and for our first half, operating income improved by $4.8 million. These results continue the positive operating trend that began in the company's third quarter last year and that has now extended to four consecutive quarters. It is also very pleasing to report that revenue during the quarter increased $6.2 million or 18 percent and that for the first half of our year is up $8.3 million or 12.3 percent compared with the same periods last year. All of us at Datapoint are dedicated, committed, and focused to continuing this trend. We are winning new business and maintaining and adding to existing business in data, voice, and video communication solutions." Thomas added, "Datapoint is continuing to actively pursue the enforcement and licensing of its multi-speed networking and 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. patents through negotiation and/or and/or conj. Used to indicate that either or both of the items connected by it are involved. Usage Note: And/or is widely used in legal and business writing. litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. . Our video conferencing patent trial against PictureTel Corporation is scheduled to begin next week, on March 16, in Dallas Dallas, city (1990 pop. 1,006,877), seat of Dallas co., N Tex., on the Trinity River near the junction of its three forks; inc. 1871. The second largest Texas city, after Houston, and the eighth largest U.S. . We believe our patents provide broad coverage in video conferencing and multi-speed networking technology and present substantial opportunity for significant royalty Compensation for the use of property, usually copyrighted works, patented inventions, or natural resources, expressed as a percentage of receipts from using the property or as a payment for each unit produced. bearing licenses. Collection of royalties Not to be confused with Royal family. Royalties (sometimes, running royalties) are usage-based payments made by one party (the "licensee") to another (the "licensor") for ongoing use of an asset, most typically an intellectual property (IP) right. and enforcement of our patents is a primary strategy of Datapoint." With its U.S. headquarters in San Antonio, TX, and international headquarters in Paris, France, Datapoint specializes in the design, integration, and maintenance of data, voice, and video communication solutions and markets its products and services in 40 countries worldwide. The company is known for its superior R&D and as an inventor INVENTOR. One who invents or finds out something. 2. The patent laws of the United States authorize a patent to be issued to the original inventor; if the invention is suggested by another, he is not the inventor within the meaning of those laws; but in that of many noteworthy technologies, including distributed video conferencing. -0-
Datapoint Corporation
SUMMARY OPERATING STATEMENTS
(In thousands, except per share data)
(Unaudited)
Quarter Ended
Jan. 31, 1998 Jan. 25, 1997
Revenue:
Sales $ 24,866 $ 18,524
Service and other 15,578 15,757
Total revenue $ 40,444 $ 34,281
Operating costs and expenses:
Cost of sales 19,803 12,936
Cost of service and other 9,941 11,270
Research and development 600 465
Selling, general and administrative 8,098 8,353
Reorganization/restructuring costs 52 1,549
Total operating costs and expenses 38,494 34,573
Operating income (loss) $ 1,950 $ (292)
Non-operating income (expense):
Interest expense (1,475) (1,681)
Other, net 2,063 2,154
Income before income taxes and
extraordinary credit 2,538 181
Income taxes (benefit) 575 (33)
Income before extraordinary credit 1,963 214
Extraordinary credit - debt extinguishment 381 81
Net income $ 2,344 $ 295
Basic Earnings Per Common Share:
Income before extraordinary credit $ .11 $ .01
Preferred stock dividends accumulated (.01) (.01)
Gain on the exchange and retirement of
preferred stock -- .24
Basic earnings per share before
extraordinary credit $ .10 $ .24
Extraordinary credit .02 .01
Net income per common share $ .12 $ .25
Diluted Earnings Per Common Share:
Income before extraordinary credit $ .10 $ .01
Preferred stock dividends accumulated (.01) --
Gain on the exchange and
retirement of preferred stock -- .22
Diluted earnings per share
before extraordinary credit $ .09 $ .23
Extraordinary credit .02 --
Net income per common share $ .11 $ .23
SUMMARY OPERATING STATEMENTS
(In thousands, except per share data)
(Unaudited)
Six Months Ended
Jan. 31, 1998 Jan. 25, 1997
Revenue:
Sales $ 44,369 $ 35,550
Service and other 31,148 31,711
Total revenue $75,517 $67,261
Operating costs and expenses:
Cost of sales 35,232 25,708
Cost of service and other 19,838 22,098
Research and development 1,205 954
Selling, general and administrative 16,567 18,345
Reorganization/restructuring costs 52 2,358
Total operating costs and expenses 72,894 69,463
Operating income (loss) $ 2,623 $ (2,202)
Non-operating income (expense):
Interest expense (3,051) (3,329)
Other, net 2,091 3,346
Income (loss) before income taxes
and extraordinary credit 1,663 (2,185)
Income taxes 688 20
Income (loss) before
extraordinary credit 975 (2,205)
Extraordinary credit - debt
extinguishment 555 903
Net income (loss) $ 1,530 $ (1,302)
Basic Earnings Per Common Share:
Income before extraordinary credit $ .05 $ (.15)
Preferred stock dividends accumulated (.02) (.04)
Gain on the exchange and
retirement of preferred stock -- .25
Basic earnings per share
before extraordinary credit $ .03 $ .06
Extraordinary credit .03 .06
Net income per common share $ .06 $ .12
$ 3,924 $ (414)
$ 1,860 $ (2,088)
Diluted Earnings Per Common Share:
Income before extraordinary credit $ .05 $ (.15)
Preferred stock dividends
accumulated (.02) (.04)
Gain on the exchange and
retirement of preferred stock -- .25
Diluted earnings per share
before extraordinary credit $ .03 $ .06
Extraordinary credit .03 .06
Net income per common share $ .06 $ .12
SUMMARY BALANCE SHEETS
(In thousands)
(Unaudited)
January 31, August 2,
1998 1997
Current assets:
Cash and cash equivalents $10,740 $15,644
Accounts receivable, net 29,551 22,731
Inventories 3,914 3,962
Other current assets 4,075 3,003
Total current assets 48,280 45,340
Fixed assets, net 9,797 11,764
Other assets, net 5,320 5,284
Total Assets $63,397 $ 62,388
Current liabilities $ 53,659 $ 53,679
Long-term debt and other 71,365 72,793
Stockholders' deficit (61,627) (64,084)
Total Liabilities and Stockholders'
deficit $ 63,397 $ 62,388
CONTACT: Blake Thomas Paris, France Intl Hdq 33 1 4007 3701 or Tom Kilkenny Kilkenny, county, Republic of Ireland Kilkenny (kĭlkĕn`ē), Gaelic Cill Chainnigh, county (1991 pop. 73,635), 796 sq mi (2,062 sq km), S Republic of Ireland. The county seat is Kilkenny. or Ilene Manahan The Marcus Marcus, in the Bible: see Mark, Saint. Group 201/902-9000 |
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