Datatec Systems Announces 2001 First Quarter Results.Business Editors FAIRFIELD Fairfield. 1 City (1990 pop. 12,200), Jefferson co., N central Ala., an industrial suburb of Birmingham; inc. 1919. Founded (1910) by the United States Steel Corp., its steel industry has greatly declined, negatively affecting the city's economy. , N.J.--(BUSINESS WIRE) Sept. 6, 2000- Datatec Services breaks even, eDeploy loses $.03 per share, resulting in a consolidated loss of $.03 for the quarter Datatec Systems, Inc. (Nasdaq: DATC DATC Davis Applied Technology College (Kaysville, Utah) DATC Days After Test Completion DATC Deferred Adverse Tax Consequence DATC Direct Assistance & Training Command DATC Director of Air Traffic Control ), a provider of deployment services and software tools, today reported results for the first quarter ended July July: see month. 31, 2000. Highlights of the report: -- eDeploy.com revenues were $1.1m in the quarter, exceeding all of FY2000's revenue. -- Datatec Services gross margins were 36.9% in the quarter, vs. 33.3% from last quarter. -- 12 Month Backlog Backlog The total value of sales orders waiting to be fulfilled. Notes: This figure is used mainly in the manufacturing industry. Increases or decreases in a company's backlog indicate the future direction of sales and earnings. now stands at $64.3m, an increase of $4.4m from last quarter. -- Indirect Sales were $11.1m in the quarter, an increase of 46% from last quarter. Commenting on the quarter, Isaac Gaon Gaon may refer to
Mr. Gaon continued "eDeploy.com's sales in the quarter were in line with our annual expectations and we anticipate that our new ASP asp, popular name for several species of viper, one of which, the European asp (Vipera aspis), is native to S Europe. It is also a name for the Egyptian cobra (Naja haja). program will start creating an opportunity for future recurring re·cur intr.v. re·curred, re·cur·ring, re·curs 1. To happen, come up, or show up again or repeatedly. 2. To return to one's attention or memory. 3. To return in thought or discourse. revenue generation and strong market share capture. We are extremely encouraged by the positive feedback that we continue to receive from the growing number of users, and their experiences with the software." About Datatec Systems, Inc. Fairfield, NJ-based Datatec Systems specializes in the rapid, large scale market absorption of networking technologies. Datatec's deployment services utilize a software-enabled implementation model to configure See configuration. (software) configure - A program by Richard Stallman to discover properties of the current platform and to set up make to compile and install gcc. Cygnus configure was a similar system developed by K. , integrate and roll-out new technology solutions using a "best practices" structured process. Its customers include Fortune 1000 companies and world-class world-class adj. 1. Ranking among the foremost in the world; of an international standard of excellence; of the highest order: a world-class figure skater. 2. technology providers. Datatec stock is listed on the Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. (DATC). For more information visit Datatec at http://www.datatec.com About eDeploy.com, Inc. eDeploy.com, a subsidiary of Datatec Systems, Inc., is a recognized leader in the development and delivery of business-to-business e-commerce e-commerce, commerce conducted over the Internet, most often via the World Wide Web. E-commerce can apply to purchases made through the Web or to business-to-business activities such as inventory transfers. tools and processes that allow OEMs, systems integrators An individual or organization that builds systems from a variety of diverse components. With increasing complexity of technology, more customers want complete solutions to information problems, requiring hardware, software and networking expertise in a multivendor environment. and service providers to configure and deploy complex network infrastructure and computing computing - computer technologies faster, more economically and with fewer defects. eDeploy is a set of web-based business-to-business productivity tools that enhance process management for any deployment. The system serves as a central repository (1) A database of information about applications software that includes author, data elements, inputs, processes, outputs and interrelationships. A repository is used in a CASE or application development system in order to identify objects and business rules for reuse. for all intellectual assets related to a project. These assets can be shared among project team members, customers and third parties. eDeploy leverages the power and ubiquity Ubiquity See also Omnipresence. Burma-Shave their signs seen as “verses of the wayside throughout America.” [Am. Commerce and Folklore: Misc. of the Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the by acting as a secure virtual project community for all parties to deliver a solution. For more information, visit http://www.edeploy.com 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. within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve risks and uncertainties which may cause the actual results or objectives to be materially different from those expressed or implied by such forward-looking statements.
DATATEC SYSTEMS, INC.
CONSOLIDATED BALANCE SHEETS
04/30/00 07/31/00
ASSETS
CURRENT ASSETS
CASH & CASH EQUIVALENTS 10,076,702 7,626,526
ACCOUNTS RECEIVABLE, NET 23,848,904 31,494,668
INVENTORY 5,129,226 5,570,587
PREPAID EXPENSES & OTHER
CURRENT ASSETS 1,301,279 1,174,300
TOTAL CURRENT ASSETS 40,356,111 45,866,081
LONG TERM ASSETS
PROPERTY & EQUIPMENT, NET 5,168,764 5,137,422
GOODWILL 3,101,531 2,992,286
OTHER ASSETS 6,435,105 6,637,471
TOTAL LONG TERM ASSETS 14,705,400 14,767,179
TOTAL ASSETS 55,061,511 60,633,260
LIABILITIES & SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
SHORT TERM DEBT 9,845,455 14,870,217
A/P & ACCRUED LIABILITIES 12,959,801 14,116,340
DUE TO RELATED PARTIES 1,389,811 1,389,811
TOTAL CURRENT LIABILITIES 24,195,067 30,376,368
LONG TERM DEBT 225,670 169,157
MINORITY INTEREST 9,593,384 9,613,715
SHAREHOLDERS' EQUITY
COMMON STOCK 22,046 33,423
ADDITIONAL PAID-IN CAPITAL 42,279,680 42,619,835
ACCUMULATED DEFICIT (20,906,449) (21,830,559)
CUMULATIVE TRANSLATION
ADJUSTMENT (347,887) (348,679)
TOTAL SHAREHOLDERS' EQUITY 21,047,390 20,474,020
TOTAL LIABILITIES &
SHAREHOLDERS' EQUITY 55,061,511 60,633,260
Datatec Systems, Inc.
Statement of Operations
For the Period Ended July 31,
--------------------2000-----------------------
Deployment
Services eDeploy Eliminations Consolidated
Revenues $23,584,000 $1,116,000 ($37,000) $24,663,000
Cost of Revenues 14,890,000 341,000 (37,000) $15,194,000
Gross profit 8,694,000 775,000 - $9,469,000
SG&A expenses 8,487,000 1,410,000 - $9,897,000
Operating Income 207,000 (635,000) - (428,000)
Interest expense, net 120,000 226,000 (21,000) $325,000
Income before Minority
Interest 87,000 (861,000) 21,000 (753,000)
Minority interest - - (171,000) ($171,000)
Net income 87,000 (861,000) (150,000) (924,000)
Weighted Avg.Shares Out 33,463,000 33,463,000 33,463,000 33,463,000
EPS ($0.03)
--------------------1999---------------------
Deployment
Services eDeploy Eliminations Consolidated
Revenues $25,496,000 $60,000 $0 $25,556,000
Cost of Revenues 15,814,000 101,000 - $15,915,000
Gross profit 9,682,000 (41,000) - $9,641,000
SG&A expenses 7,628,000 733,000 - $8,361,000
Operating Income 2,054,000 (774,000) - 1,280,000
Interest expense, net 168,000 268,000 - $436,000
Income before Minority
Interest 1,886,000 (1,042,000) - 844,000
Minority interest - - - $0
Net income 1,886,000 (1,042,000) - 844,000
Weighted Avg.Shares Out 31,418,000 31,418,000 31,418,000 31,418,000
EPS $0.03
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