IMSI Reports First Quarter 1996 Results.SAN RAFAEL San Rafael (săn rəfĕl`), residential city (1990 pop. 48,404), seat of Marin co., W Calif., a suburb of San Francisco on the northern shore of San Francisco Bay; inc. 1913. , Calif.--(BUSINESS WIRE)--Oct. 23, 1995-- International Microcomputer microcomputer Small digital computers whose CPU is contained on a single integrated semiconductor chip. As large-scale and then very large-scale integration (VLSI) have progressively increased the number of transistors that can be placed on one chip, the processing capacity Software 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 :IMSI IMSI International Mobile Subscriber Identity IMSI International Microcomputer Software, Inc. IMSI International Mobile Station Identity (now International Mobile Subscriber Identity) IMSI Idaho Maximum Security Institution ), a leading publisher of quality software for the small business and home market, today reported financial results for the first quarter ended Sept. 30, 1995. Net revenues for the recent quarter were $5,107,000, an increase of 7.3% from $4,761,000 in the first quarter of fiscal 1995. 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. for the quarter was $154,565 compared with operating income of $157,776 in the first quarter of fiscal 1995. Net income for the quarter was $71,646 compared with net income of $101,121 in the first quarter of fiscal 1995. Earnings per share were $0.02 in the recent first quarter versus $0.03 in the same period last year. Earnings per share figures for both periods have been adjusted for a recently announced three-for-two stock split, payable to shareholders of record on Oct. 20, 1995 with effective distributions on Nov. 3, 1995. On a pre-split basis, earnings per share would have been $0.03 in the first quarter of fiscal 1996 and $0.05 in the first quarter of last year. Retail sales grew to $3,628,000, 43.3% above last year's first quarter of $2,532,000. Direct sales decreased 33.7% from $2,229,000 in the first quarter last year to $1,479,000 this past quarter. "We have made significant progress in our transition to selling primarily through retail channels from our previous strategy of selling directly to end-users," said Martin Sacks Martin Sacks (born 16th October 1956, Sydney) is a well-known Australian actor, chiefly known for his 11-year role on Blue Heelers from 1994 to 2005. Sacks first got into acting after a bit part in an episode of The Love Boat , president and chief executive officer. "The transition resulted in a significant decline in sales and marketing expenses in absolute dollars and as a percentage of revenues. Sales and marketing represented 37.4% of revenues in the recent quarter compared to 45.5% last year. "IMSI has good momentum going into 1996, with several new product introductions and new distribution agreements in place," Sacks continued. "In the current quarter, we expect to ship ten new software products. To accommodate our growth plans, IMSI has increased its research and development spending." R&D expenses were 12.7% of revenues in the recent first quarter, up from 7.0% in the same period last year. "The Company remains focused on its strategy to grow and enhance profitability by maintaining its leadership position in the small business and home office markets, expanding its software lineup A criminal investigation technique in which the police arrange a number of individuals in a row before a witness to a crime and ask the witness to identify which, if any, of the individuals committed the crime. titles to consumers and building its distribution both locally and overseas," Sacks concluded. Founded in 1983, IMSI is a leading developer and publisher of quality software for the home and small business. The Company presently offers over 50 software products including TurboCAD  This article has no lead section.To comply with Wikipedia's lead section guidelines, one should be written. , FormTool and newly acquired FloorPlan Plus 3D. Headquartered in San Rafael, California San Rafael (IPA: /ˌsænrəˈfɛl/; originally IPA: [sɑn rɑfeˈɛl]), is the county seat of Marin County, California, United States. with wholly owned subsidiaries Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. in the United Kingdom, France, Germany Germany (jûr`mənē), Ger. Deutschland, officially Federal Republic of Germany, republic (2005 est. pop. 82,431,000), 137,699 sq mi (356,733 sq km). , Australia Australia (ôstrāl`yə), smallest continent, between the Indian and Pacific oceans. With the island state of Tasmania to the south, the continent makes up the Commonwealth of Australia, a federal parliamentary state (2005 est. pop. and South Africa South Africa, Afrikaans Suid-Afrika, officially Republic of South Africa, republic (2005 est. pop. 44,344,000), 471,442 sq mi (1,221,037 sq km), S Africa. , IMSI employs 116 people worldwide. Company contact: Geoffrey Geoffrey (jĕf`rē), 1158–86, duke of Brittany (1171–86); fourth son of Henry II of England. Betrothed (1166) to Constance, heiress of Brittany, he was recognized as heir to the duchy in 1169 and succeeded to it on the death of her Koblick, IMSI, 1895 Francisco Francisco may refer to:
International Microcomputer Software Inc.
and Subsidiaries
Consolidated Statements of Operations
Three months ended Sept. 30
1995 1994
Net revenues $5,107,077 100.0% $4,760,573 100.0% Product costs 1,673,599 32.8% 1,540,863 32.4% Gross margin 3,433,478 67.2% 3,219,710 67.6% Costs and expenses: Sales and marketing 1,907,686 37.4% 2,167,572 45.5% General and administrative 720,831 14.1% 562,304 11.8% Research and development 650,396 12.7% 332,058 7.0% Total operating expenses 3,278,913 64.2% 3,061,934 64.3% Operating income 154,565 3.0% 157,776 3.3% Other income (expense) (31,038) (0.6%) 13,616 0.3% Income before taxes 123,527 2.4% 171,392 3.6% Provision for income taxes 51,881 1.0% 70,271 1.5% Net income $71,646 1.4% $101,121 2.1% Net income per common and common equivalent share $ 0.02 -- $ 0.03 -- Average common and common equivalent shares used to compute earnings per share 3,435,396 -- 3,209,084 Note: 1995 and 1994 average common and common equivalent shares have been adjusted to give effect to the Company's 3 for 2 stock split payable on Nov. 3, 1995. Pre split figures are as follows: Net income per common and common equivalent share $ 0.03 -- $ 0.05 -- Average common and common equivalent shares used to compute earnings per share 2,290,264 -- 2,139,389
International Microcomputer Software Inc.
and Subsidiaries
Condensed Balance Sheets
Sept. 30, June 30,
1995 1995
Assets
Current Assets:
Cash and cash equivalents $312,560 $523,235
Receivables, less allowances
for doubtful accounts and
returns of $1,016,691 and
$777,718 3,615,170 2,590,322
Inventories 1,675,726 1,625,631
Other current assets 1,493,548 1,198,450
Total current assets 7,097,004 5,937,638
Other Assets 2,071,122 1,532,753
Total assets 9,168,126 7,470,391
Liabilities and Shareholders' Equity
Current Liabilities 5,103,973 3,970,596
Long term debt and other obligations 587,125 102,570
Total shareholders' equity 3,477,028 3,397,225
Total liabilities & shareholders'
equity $9,168,126 $7,470,391
CONTACT: IMSI Martin Sacks, 415/454-7101 and Morgen-Walke Associates Inc. Doug Sherk, Jenifer Kirtland, David Gennarelli, 415/296-7383 Jill Ruja, Elissa Grabowski, 212/850-5600 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion