Mosaix Announces Results For The Third Quarter.REDMOND, Wash.--(BUSINESS WIRE)--Oct. 16, 1997--Mosaix Inc. (Nasdaq: MOSX MOSX Macintosh Operating System Ten MOSX Media Object Server Xml ) today announced its results for the third quarter ended September 30, 1997. For the quarter, Mosaix reported revenue of $28.0 million, compared to $30.2 million for the third quarter of 1996. Excluding restructuring charges, net income was $1.8 million or $0.13 per share, compared to $3.3 million or $0.24 per share for the same period of 1996. During the third quarter of 1997, the Company incurred a restructuring charge of $948,000 or $0.05 per share (after-tax) related to the consolidation of its sales, support and service operations. For the first nine months of 1997, Mosaix's revenue was $90.3 million, an increase of 5% over the same period of the previous year. Excluding the restructuring charge in 1997, net income for the first nine months was $8.1 million or $0.58 per share. This compares to net income of $8.3 million or $0.62 per share for the same period of 1996, excluding a charge of $5.0 million or $0.36 per share (after-tax) related to an acquisition. International revenue grew to 28% of total revenue compared to 18% for the third quarter of 1996. Most of this increase occurred in the United Kingdom. Domestic revenue, however, declined due to lower systems and software sales in the large call center segment of the market. New accounts for the third quarter included Merrill Lynch Merrill Lynch & Co., Inc. (NYSE: MER TYO: 8675 ), through its subsidiaries and affiliates, provides capital markets services, investment banking and advisory services, wealth management, asset management, insurance, banking and related products and services on a global basis. , Grattons, Intuit, JM Family, Yorkshire Electric and Long Beach Acceptance. The Company has continued to effectively maintain operating cost controls. Excluding restructuring charges, operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. for the third quarter were $red into strategic alliances with Ameritech (NYSE NYSE See: New York Stock Exchange : AIT) and Technology Solutions Company (NASDAQ: TSCC TSCC Trauma Symptom Checklist for Children TSCC Twin Swirl Combustion Chamber (Suzuki motorcycle engine technology of the 1960s; 4-stroke) TSCC Toxic Substances Coordinating Committee TSCC Transportation Security Coordination Center ). Ameritech will market Mosaix's call management systems in the troduced ViewStar 5.0, new workflow software wsaix received ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 9001 certification and TeleProfessional Magazine1s Gold Award for Call Center Excellence, in recognition of outstanding call center performance and taix. "We have successfully consolidated ond we are providing significant enhancements to our predictive dialing and workflow products. We have also achieved a major milestone in our enterprise customer management initiative with the launch of ViewStar 5.0." In July 1997, Mosaix's Board of Directors authorized, subjeral corporate purposes. As of September 30, 199ed in Redmond, WA., Mosaix provides call center the Company's quarterly and annual report opertainties relating to the integration of operatologies by the Company's competitors; and compich could materially and adversely affect busi (In thousands, except per share da10,792 $ 13,973 Software licenses 373 Cost of service and miscellaneous 5,96 ---------- Gross profit 12,005 Research and development earnings $ 1,149 $ ==== Weighted average common shares andutstanding 13,901 13,921 Service and miscellaneous 36,212 --------- --------- --------- 49,612 --- $ 7,403 $ 3,522 turing charge and purchased research and equivalent shares outstanding Sept. 30, 1997 June 30, 1997 Assets Current assets Current Assets Appearing on a company's balance sheet, it represents cash, accounts receivable, inventory, marketable securities, prepaid expenses, and other assets that can be converted to cash within one year. : Cash and short-term investments $ 44,130 $ 47,851 Trade accounts receivable accounts receivable n. the amounts of money due or owed to a business or professional by customers or clients. Generally, accounts receivable refers to the total amount due and is considered in calculating the value of a business or the business' problems in paying , net 26,996 28,189 Inventories 2,701 2,489 Current installments of contracts receivable, net 1,771 1,610 Other current assets Other Current Assets A balance sheet item that includes the value of non-cash assets due within one year. Notes: Examples are things like prepaid expenses and accounts receivable. 5,616 4,191 ----------------------- Total current assets 81,214 84,330 Furniture, equipment and leasehold improvements, net 7,591 7,300 Contracts receivable, less current installments 19 464 Capitalized software costs, net 1,118 1,433 Other assets other assets Assets of relatively small value. For financial reporting purposes, firms frequently combine small assets into a single category rather than listing each item separately. 1,163 848 ---------------------------- Total assets $ 91,105 $ 94,375 ============================ Liabilities and Shareholders' Equity Shareholders' Equity A firms' total assets minus its total liabilities. Equivalently, it is share capital plus retained earnings minus treasury shares. Shareholders' equity is the amount by which a company is financed through common and preferred shares. Current liabilities Current Liabilities Usually appearing on a company's balance sheet, it represents the amount owed for interest, accounts payable, short-term loans, expenses incurred but unpaid, and other debts due within one year. : Current portion of long-term obligations $ 1,022 $ 983 Accounts payable 4,007 3,206 Accrued expenses 15,762 15,531 Customer deposits and unearned revenue Unearned Revenue When an individual or company receives money for a service or product that has yet to be fulfilled. Notes: For example, prepayment on a lease contract - the revenue is a liability until it has been earned. See also: Earned Income, Passive Income 7,245 9,603 ---------- --------- Total current liabilities 28,036 29,323 Long-term liabilities Long-Term Liabilities Recorded on the balance sheet, a company's liabilities for leases, bond repayments and other items due in more than one year. Notes: A company's long-term liabilities are accounted for by its debt obligations to other parties which last longer than 315 407 ----------- -------- Total liabilities 28,351 29,730 ----------- -------- Shareholders' equity 62,754 64,645 ----------- -------- Total liabilities and shareholders' equity $ 91,105 $ 94,375 CONTACT: Mosaix Inc. John Flavio, 425/558-8088 or Fi.Comm Michael Newman, 206/467-6732 |
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