Global Village posts seventh consecutive record-setting quarter; revenues up 72%; net income up 70%.SUNNYVALE Sunnyvale, city (1990 pop. 117,229), Santa Clara co., W Calif., near San Francisco; settled 1849, inc. 1912. A city in Silicon Valley, its many manufactures include semiconductors; machinery and instruments; electrical, electronic, and aerospace products; , Calif.--(BUSINESS WIRE)--Jan. 16, 1995--Global Village Communication, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : GVIL) today reported that revenues for the third fiscal quarter ended December December: see month. 31, 1994 rose 72 percent to a record $21.8 million, up from $12.7 million in the similar period last year. Net income increased 70 percent to $1.9 million, up from $1.1 million a year ago. Earnings per share increased to 12 cents compared with 10 cents in the same quarter last year. Shares used in the calculation of per share data increased to 16.1 million, up from 11.7 million a year ago, due to the company's IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. in February February: see month. 1994 and its acquisition of SofNet, Inc. in August 1994. "We had an excellent quarter," said Neil Selvin, president 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. . "Our record revenues and net income were driven by increasingly strong demand for our products, particularly the TelePort Verb 1. teleport - transport by dematerializing at one point and assembling at another science fiction - literary fantasy involving the imagined impact of science on society transport - move something or somebody around; usually over long distances and PowerPort lines. Our TelePort Gold II, which was introduced in October October: see month. , was a big success for us," he said. The TelePort product line accounted for 35 percent of revenues, up sharply from 16 percent in the prior quarter. Gross margins in the third fiscal quarter increased to 47 percent, up from 44 percent, due to increased shipments of higher-margin software products and improved operating efficiencies. The period ended December 31 was the first full quarter of Windows and OS/2 software revenue. "We expanded into an important new business area through our launch of OneWorld Oneworld is a worldwide airline alliance. As of 2007 it is the third largest after Star Alliance and SkyTeam. Member airlines and their affiliates enjoy a high degree of co-operation in schedueling, ticketing, code sharing, flight transfer operations, frequent flyer benefits, 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 , which will establish us as a nationwide Internet service provider Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. to small and medium-sized Me´di`um-sized` a. 1. Having a medium size; as, a medium-sized man s>. Adj. 1. medium-sized - intermediate in size medium-size, moderate-size, moderate-sized businesses," Selvin said. "Our goal is to become a leading provider of both software and services for personal communications," he added. Global Village introduced OneWorld Internet, a totally integrated Internet connectivity package, earlier this month at the Macworld This article is about a technology publication. For the tradeshow, see Macworld Conference & Expo.
Macworld Exposition exposition or exhibition, term frequently applied to an organized public fair or display of industrial and artistic productions, designed usually to promote trade and to reflect cultural progress. . The offering, which combines an Internet server with proprietary software, includes Internet connection service, the company's first potential source of 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. service revenue. The Macintosh version will begin shipping in the first calendar quarter of 1995 and the Windows version will begin shipping in the second calendar quarter. In addition, the company announced in December the expansion of its line of OneWorld telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. servers: OneWorld Combo, the first server to combine fax, data and remote access capabilities; OneWorld Fax, the only fax server to provide network modem A modem shared by all users in a network. See network access server. capability; and OneWorld Network Modem. For the nine months ended December 31, 1994, revenues were $54.8 million compared with $32.9 million a year ago. Net loss for the period was $8.3 million, or 62 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , compared with net income of $3.1 million, or 26 cents, in the similar period last year. Net loss for the fiscal 1995 period reflected non-recurring charges of approximately $13 million, or 98 cents per share, related primarily to the SofNet acquisition. The Company Global Village is a leading supplier of easy-to-use communication products and services for personal computer users. The company develops, markets, and supports industry-acclaimed products, including the FaxWorks family of fax software for Windows, OS/2, and DOS; GlobalFax software for Macintosh; TelePort and PowerPort fax/modems for Macintosh desktop and PowerBook computers; and the OneWorld line of plug-and-play telecommunications servers. -0-
GLOBAL VILLAGE COMMUNICATION, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
Three Months
Ended Dec. 31,
1994 1993
(Unaudited)
Net revenue $21,847 $12,679 Cost of revenue 11,518 7,095 Gross profit 10,329 5,584
Operating expenses:
Research and development 2,585 1,278
Marketing and sales 3,924 2,030
General and administrative 982 485
In-process research & development 0 0
7,491 3,793
Income (loss) from operations 2,838 1,791
Other income, net 225 34
Income (loss) before
income taxes 3,063 1,825
Provision for income taxes 1,149 698
Net income (loss) $1,914 $1,127
Net income (loss) per share $ .12 $ .10 Shares used in computing net income (loss) per share 16,076 11,654
Nine Months
Ended Dec. 31,
1994 1993
(Unaudited)
Net revenue $54,792 $32,936 Cost of revenue 29,743 18,000 Gross profit 25,049 14,936
Operating expenses:
Research and development 6,099 3,478
Marketing and sales 9,431 5,341
General and administrative 2,912 1,252
In-process research & development 12,809 0
31,251 10,071
Income (loss) from operations (6,202) 4,865
Other income, net 608 81
Income (loss) before
income taxes (5,594) 4,946
Provision for income taxes 2,708 1,864
Net income (loss) $(8,302) $3,082
Net income (loss) per share ($ .62) $ .26 Shares used in computing net income (loss) per share 13,309 11,673
GLOBAL VILLAGE COMMUNICATION, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
Dec. 31, Mar. 31,
1994 1994
(Unaudited)
ASSETS Current assets: Cash and short-term investments $27,302 $24,986 Accounts receivable, net 11,629 4,299 Inventories, net 1,589 3,507 Deferred income taxes 2,186 1,186 Other current assets 585 245
Total current assets 43,291 34,223
Property and equipment, net 4,349 1,840 Other assets 1,563 128
$49,203 $36,191
LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $10,445 $4,573 Accrued and other liabilities 3,730 2,562 Income taxes payable 628 134
Total current liabilities 14,803 7,269
Stockholders' equity 34,400 28,922
$49,203 $36,191
-0-
CONTACT: Global Village Communication James Walker James Walker may refer to a number of persons:
jwalker@globalvillag.com Kathy Bower, 408/523-2260 kathy_bower@globalvillag.com |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion