Memotec Communications Inc. - financial results for the third quarter.MONTREAL, Quebec--(BUSINESS WIRE)--Oct. 25, 1995--Memotec Communications Inc. (Memotec) announces that its financial results for the third quarter ending September 30, 1995 indicate total revenues of $14.1 million with a net loss for the period of $2.7 million or $0.30 per share on a fully diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. basis. In 1994, third quarter sales were $16.8 million with reported profit of $0.4 million of $0.05 per share. Memotec's cash position as at the end of the quarter is $6.4 million. Based upon third quarter revenues, total revenues for the first nine months are of $46.4 million (as compared to $42.9 million reported for the first nine months of 1994) and total losses for the period are of $1.3 million (as compared to $2.1 million). Third quarter results are below those which were anticipated. However, the management team remains very optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op with respect to Memotec prospects. The third quarter was ill-affected by production difficulties related to a large degree to problems in having the company's supply requirements met. These factors had a negative impact on Memotec's ability to meet the demand for its product. Management considers that effective solutions to these problems have now been implemented and that they should no longer be a source of difficulty. Memotec remains enthusiastic due to the quality and performance of its products which it believes to be among the most competitive on the market. New products are being successfully deployed and tested at numerous customer sites. Of particular interest is the fact that Memotec's CX 1000 has now been certified by Wiltel/LDDS WorldCom. During the third quarter, Memotec was involved in a number of significant marketing activities: i) the launch of the Thunderbold(TM) family of Frame Relay A high-speed packet switching protocol used in wide area networks (WANs). Providing a granular service of up to DS3 speed (45 Mbps), it has become popular for LAN to LAN connections across remote distances, and services are offered by most major carriers. products, (ii) the announcement of a US patent for Skydata's Integrated Services In computer networking, IntServ or integrated services is an architecture that specifies the elements to guarantee quality of service (QoS) on networks. IntServ can for example be used to allow video and sound to reach the receiver without interruption. Access Terminal for which Memotec was instrumental in developing the Frame Relay architecture, (iii) the implementation of the first fully operational privately owned Frame Relay network in Russia, and (iv) the installation of a public Frame Relay link between Memotec's Montreal and Toronto offices. Memotec Communications Inc. (Memotec), a North-American based international corporation, designs, produces and markets a wide range of communication networking products and integrated solutions for the LAN/WAN LAN/WAN Local Area Network/Wide Area Network , data, voice and multimedia communications marketplace. Memotec specialized in integrating its technologies into solutions for the communications needs of its clients. In addition, Memotec installs and maintains its products from more than 250 locations in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . Supported by a sales force in all major North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. cities and a distribution network in more than 55 countries, Memotec is a major player in the global internetworking marketplace. Memotec's common shares are traded on the Montreal and Toronto Stock exchanges Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under the symbol MCM (MultiChip Module or MicroChip Module) A chip package that contains several bare chips mounted close together on a substrate (base) of some kind. . CONTACT: Memotec Communications, Montreal Joanne Fortin, Tel: 514/738-4781 Fax: 514/738-4436 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion