Judicate Inc. posts second consecutive quarterly profit.PHILADELPHIA--(BUSINESS WIRE)--Nov. 15, 1995--Judicate 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 Small Cap:JUDG JUDG Judges (Old Testament) ) posted its second consecutive quarterly profit for the quarter ended Sept. 30, 1995 on the continued strength of the sales performance by its subsidiary, Quest Electronic Hardware Inc., a specialized spe·cial·ize v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es v.intr. 1. To pursue a special activity, occupation, or field of study. 2. distributor of fasteners fasteners In construction, connectors between structural members. Bolted connections are used when it is necessary to fasten two elements tightly together, especially to resist shear and bending, as in column and beam connections. and electronic hardware sold to electronic equipment manufacturers. Net income for the quarter was $228,918 (2 cents per common share) on revenues of $2,370,786, compared with net income of $249,964 (2 cents per common share) on revenues of $2,430,880 for the immediately preceding quarter. The company noted that sales attributable to Quest in the quarter amounted to $2,324,795, slightly behind the $2,357,607 record level of quarterly sales posted in the preceding quarter, reflecting cyclically slower summer months. The company also noted that the results for the current quarter include a $36,368 loss from its alternative dispute resolution Procedures for settling disputes by means other than litigation; e.g., by Arbitration, mediation, or minitrials. Such procedures, which are usually less costly and more expeditious than litigation, are increasingly being used in commercial and labor disputes, Divorce business, reflecting a further decline in sales for that business. In the comparable prior year quarter, the company recorded a net loss of $163,901 (5 cents per common share) on revenues of $133,822. "In spite of in opposition to all efforts of; in defiance or contempt of; notwithstanding. See also: Spite the slightly lower sales this quarter, the profit contribution from Quest improved as compared with last quarter," said Dominic Dominic hound who travels widely. [Children’s Lit.: Dominic] See : Dogs A. Polimeni, 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 Judicate, and chief executive of Quest. "We expect to see continuing improvement in our profitability, especially as the recently announced contract with Applied Materials Applied Materials, Inc. NASDAQ: AMAT (HKSE: 4336 ) is the global leader in nanomanufacturing technology solutions with a broad portfolio of innovative equipment, service and software products for the fabrication of semiconductor chips, flat panel solar displays, solar comes on stream which we expect will increase our revenues by $2.5 million annually," he added. Net income for the nine months ended Sept. 30, 1995 was $229,117 (2 cents per common share) on revenues of $4,908,757. In the prior year period, the company recorded a net loss of $377,831 (15 cents per common share) on revenues of $626,612. Judicate, headquartered in Philadelphia Philadelphia, ancient cities Philadelphia, name of several ancient cities. One was in Lydia, W Asia Minor (now W Turkey). At the foot of Mt. Tmolus and near the location of modern Alaşehir, it was founded in the 2d cent. B.C. , is a supplier of alternative dispute resolution services and, through its subsidiary, Quest Electronic Hardware Inc., is a specialized distributor of fasteners and electronic hardware sold to electronic equipment manufacturers. Judicate's common stock is listed on the NASDAQ Small Cap Market under the symbol JUDG. -0-
Judicate Inc. and subsidiaries
Consolidated statement of operations
Three month and nine month periods ended Sept. 30, 1995 and 1994
Three months ended Nine months ended
Sept. 30 Sept. 30
----------------------- ---------------------
1995 1994 1995 1994
----------------------- ---------------------
Revenue:
Sales $ 2,324,795 $ -- $4,682,402 $ --
Fee income 45,991 133,822 226,355 626,612
----------- ---------- ---------- ---------
2,370,786 133,822 4,908,757 626,612
------------ ---------- ---------- --------
Costs and expenses:
Cost of products
and services sold 1,344,562 60,226 2,817,002 212,700
Selling, general
and administrative
expenses 646,191 205,218 1,567,705 732,751
Depreciation and
amortization 60,514 16,500 119,916 49,500
------------ ---------- ---------- --------
2,051,267 281,944 4,504,623 994,951
------------ ---------- ---------- --------
Operating income (loss) 319,519 (148,122) 404,134 (368,339)
Interest expense 72,526 15,779 130,502 9,492
----------- ----------- ---------- ---------
Income (loss) before income taxes 246,993 (163,901) 273,632 (377,831)
Provision for income
taxes 18,075 -- 44,515 --
------------ ----------- ---------- ----------
Net income (loss) $ 228,918 $ (163,901) $ 229,117 $(377,831)
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Net income (loss) per
common share $ 0.02 $ (0.05) $ 0.02 $ (0.15)
============ =========== ========== ==========
Average number of common shares and common share equivalents outstanding 15,005,822 3,448,605 13,707,612 2,527,666-0- This interim report is subject to independent audit at year-end. CONTACT: Judicate Inc., Philadelphia Milton Milton, town (1990 pop. 25,725), Norfolk co., E Mass., a residential suburb of Boston, on the Neponset River; settled 1636, set off from Dorchester and inc. 1662. Granite quarries are nearby. M. Adler Ad·ler , Alfred 1870-1937. Austrian psychiatrist. He rejected Sigmund Freud's emphasis on sexuality and theorized that neurotic behavior is an overcompensation for feelings of inferiority. , 215/546-6200 |
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