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Microlog Announces Third Quarter Results.

Business Editors/Hi-Tech Writers

GERMANTOWN, Md.--(BUSINESS WIRE)--Aug. 31, 2000

Microlog Corporation (NASDAQ:MLOG) announced today results for the quarter ended July 31, 2000, indicating revenues for the quarter of $3.1 million and a net loss of $504,000 (($0.07) per basic and diluted share).

For the nine months ended July 31, 2000, revenues were $11.6 million, with a net loss of $321,000 (($0.05) per basic and diluted share).

"Although we signed a significant agreement near the end of the quarter, over $500,000 of income from the agreement could not be recognized during the quarter. Instead, we expect that the income will be realized over our next two quarters," stated John Mears, Co-President and COO.

Mr. Mears added, "We placed increased emphasis on sales and marketing this quarter, and are pleased to announce the addition of two direct sales professionals experienced in our industry. In addition, we are beginning to see some early results from our pursuit of alternate channel sales, as illustrated by our recently announced uniQue licensing agreement."

To compare the most recent quarter and nine-month period to the comparable periods last year, the Company had revenues of $5.0 million and a net loss of $187,000 (($0.04) per basic and diluted share) for the quarter ended July 31, 1999, and revenues of $14.1 million and a net loss of $3.6 million (($0.82) per basic and diluted share) for the nine months ended July 31, 1999.

Microlog Corporation designs software applications that enhance the productivity of the customer contact center experience, as well as provides consultation on a variety of hardware options. The Company's professional services encompass the migration of e-commerce into the traditional call center environment by Web enablement. Microlog's award winning products support this Web enablement, as well as supports all inbound and outbound media - telephone, e-mail, fax, and Web - for contact centers. Other services offered by Microlog include: technology assessment; project management; application and software development; system integration; telephony integration; installation; system administration and quality assurance. For additional Microlog information, call (301) 428-9100 or visit Microlog's Web site at www.mlog.com.

Statements in this news release concerning future results, performance, or expectations are forward-looking statements. Actual results, performance, or developments could differ materially from those expressed or implied by such forward-looking statements as a result of known and unknown risks, uncertainties, the Company's ability to introduce new call center products on a timely manner, and the demand for such products, technological innovation and competition, and other factors including those described from time to time in the Company's other filings with the Securities and Exchange Commission, press releases, and other communications.


 Part I. FINANCIAL INFORMATION

Item 1. Financial Statements

 Microlog Corporation
 Consolidated Balance Sheets
 (In thousands, except share data)

 (Unaudited)
 July 31, October 31,
 2000 1999
 -------- --------
Assets:
Current assets:
 Cash and cash equivalents $ 1,842 $ 3,425
 Receivables, net 1,898 1,155
 Inventories, net 336 375
 Other current assets 231 301
 -------- --------
 Total current assets 4,307 5,256
Fixed assets, net 778 917
Licenses, net 16 100
Other assets 181 153
 -------- --------
 Total assets $ 5,282 $ 6,426
 ======== ========

Liabilities and Stockholders' Equity:

Current liabilities:
 Current portion
 of long-term debt $ 0 $ 74
 Accounts payable 354 388
 Accrued compensation
 and related expenses 1,316 1,965
 Deferred revenue
 and other
 deferred credits 485 447
 Other accrued
 expenses 238 564
 -------- --------
 Total current
 liabilities 2,393 3,438
Deferred officers'
 compensation 136 151
Other liabilities 114 33
 -------- --------
 Total
 liabilities 2,643 3,622
 -------- --------
Stockholders' equity:
 Serial preferred
 stock, $.01 par value,
 1,000,000 shares
 authorized, no shares
 issued and outstanding -- --
 Common stock,
 $.01 par value,
 10,000,000 shares
 authorized,
 7,666,808 and 7,575,597
 shares issued and
 7,064,938 and 6,973,727
 outstanding 77 76

 Capital in excess
 of par value 20,672 20,517

 Treasury stock,
 at cost, 601,870
 shares (1,177) (1,177)

 Accumulated deficit (16,933) (16,612)
 --------- ---------
 Total stockholders'
 equity 2,639 2,804
 --------- ---------
 Total liabilities
 and stockholders'
 equity $ 5,282 $ 6,426
 ======== ========


 Microlog Corporation
 Consolidated Statements of Operations
 (Unaudited)
 (In thousands)


 For The Three Months For The Nine Months
 Ended July 31, Ended July 31,
 2000 1999 2000 1999
 --------- --------- --------- ---------

Sales $ 3,071 $ 4,954 $ 11,624 $ 14,097

Costs and expenses:
 Cost of sales 2,321 3,400 8,178 10,326
 Selling, general
 and administrative 923 1,160 2,823 4,580
 Research and
 development 342 600 1,004 2,299
 Restructuring costs --- 5 --- 586
 --------- --------- --------- ---------

 3,586 5,165 12,005 17,791
 --------- --------- --------- ---------

Operating loss (515) (211) (381) (3,694)

Net other income 11 5 4 119
 --------- --------- --------- ---------

Loss before income
 taxes (504) (206) (377) (3,575)

Benefit for income
 taxes --- 19 56 ---
 --------- --------- --------- ---------

Net loss (504) (187) (321) (3,575)

Accumulated deficit:
 at beginning of
 period (16,429) (15,307) (16,612) (11,919)
 --------- --------- --------- ---------

 at end of period $(16,933) $(15,494) $(16,933) $(15,494)
 ========= ========= ========= =========

Basic weighted average
 shares outstanding 7,065 4,438 7,024 4,339
 --------- --------- --------- ---------
Diluted weighted
 average shares
 outstanding 7,065 4,438 7,024 4,339
 --------- --------- --------- ---------

Basic loss per share $ (0.07) $ (0.04) $ (0.05) $ (0.82)
Diluted loss per share $ (0.07) $ (0.04) $ (0.05) $ (0.82)
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