FullNet Reports 21% Increase in Second Quarter Revenues.Business Editors & High Tech Writers OKLAHOMA CITY--(BUSINESS WIRE)--Aug. 13, 2002 FullNet Communications, Inc. ("FullNet") (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :FULO) today announced revenues for the quarter ended June 30, 2002, of $617,000. This represents a 21% increase over the prior year corresponding quarter's revenues of $509,000. Commenting on the Company's performance, founder and 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. Timothy J. Kilkenny said, "While we are pleased with our improving performance, we recognize that it is neither where it should be nor where it can be. We recognize that there is still much work to be done and are committed to the principal of constant and never-ending improvement." EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become (Earnings Before Interest, Taxes, Depreciation and Amortization Earnings before interest, taxes, depreciation and amortization (EBITDA) is a non-GAAP metric that can be used to evaluate a company's profitability.
FullNet is a facilities-based Integrated Communications Provider headquartered in Oklahoma City Oklahoma City (1990 pop. 444,719), state capital, and seat of Oklahoma co., central Okla., on the North Canadian River; inc. 1890. The state's largest city, it is an important livestock market, a wholesale, distribution, industrial, and financial center, and a farm , engaged in consumer and business Internet services, including 1) dial-up, DSL DSL in full Digital Subscriber Line Broadband digital communications connection that operates over standard copper telephone wires. It requires a DSL modem, which splits transmissions into two frequency bands: the lower frequencies for voice (ordinary , and dedicated broadband access See broadband and wireless broadband. , with customers in more than 30 communities in Oklahoma, and 2) web hosting Making a Web site available on the Internet. Many ISPs host a few personal Web pages for an individual at no additional cost above the monthly service fee, but the address is subordinate to the ISP; for example, www.friendlyisp.com/pat_smith. , server co-location and telecommunications premise co-location, with customers throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and more than 40 foreign countries. For more information, visit the Company's web site at www.fullnet.net. Certain statements in this release may constitute "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, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Certain, but not necessarily all, of such forward-looking statements can be identified by the use of forward-looking terminology such as "anticipates," "believes," "expects," "may," "will," or "should" or other variations thereon there·on adv. 1. On or upon this, that, or it. 2. Archaic Following that immediately; thereupon. Adv. 1. thereon - on that; "text and commentary thereon" on it, on that , or by discussions of strategies that involve risks and uncertainties. The actual results of the Company or industry results may be materially different from any future results expressed or implied by such forward-looking statements.
FullNet Communications, Inc. and Subsidiaries
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
Three Months Ended Six Months Ended
June 30, June 30, June 30, June 30,
2002 2001 2002 2001
REVENUES
Access service
revenues $ 378,702 $ 318,711 $ 781,788 $ 610,034
Co-location and
other revenues 238,321 190,058 453,589 431,669
--------- --------- --------- ---------
Total revenues 617,023 508,769 1,235,377 1,041,703
OPERATING COSTS AND
EXPENSES
Cost of access
service revenues 234,385 193,093 495,816 364,673
Cost of co-location
and other revenues 26,877 24,097 50,707 42,343
Selling, general
and administrative
expenses 325,051 478,983 699,016 1,254,021
Depreciation and
amortization 181,423 239,133 357,125 466,580
---------- --------- --------- ----------
Total operating
costs and expenses 767,736 935,306 1,602,664 2,127,617
---------- --------- --------- ----------
LOSS FROM OPERATIONS (150,713) (426,537) (367,287) (1,085,914)
INTEREST EXPENSE (89,301) (151,667) (171,262) (403,990)
DEBT CONVERSION
EXPENSE - (370,308) - (370,308)
----------- ---------- ---------- ----------
NET LOSS $(240,014) $(948,512) $(538,549) $(1,860,212)
=========== ========== ========== ==========
Net loss per common
share
Basic and Diluted $ (.04) $ (.18) $ (.08) $ (.39)
=========== ========== ========== ==========
Weighted average
number of common
shares outstanding
Basic and diluted 6,671,481 5,350,456 6,665,573 4,732,657
=========== ========== ========== ==========
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