NCTI Reports First Quarter Results.WESTPORT, Conn. -- NCT NCT National Childbirth Trust NCT National Car Test NCT North Carolina Theatre NCT National Coordination Team NCT Northern California TRACON NCT Noise Cancellation Technology NCT Network Control and Timing NCT Nicotine Replacement Therapy Group, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : NCTI NCTI National Center for Technology Innovation NCTI National College of Technical Instruction (Roseville, CA) NCTI National Centre for Trade Information (India) NCTI National Cable Television Institute ) reported that total revenue for the three months ended March 31, 2006 was $1.0 million, compared to total revenue of $1.6 million in the same period in 2005, a decrease of 37.5%. This decrease was primarily the result of having fully recognized the remaining $0.5 million of license fee revenue from the New Transducers Ltd. license in the three months ended March 31, 2005. Net loss for the three months ended March 31, 2006 was $14.0 million, compared to a restated net loss of $19.8 million for the same period a year ago, a decrease of 29.3%. Interest expense continues to constitute the majority of total costs and expenses. This expense was $9.2 million in the three months ended March 31, 2006 versus a restated $18.1 million in the same period in 2005, a decrease of $8.9 million or 49.2 %. The decrease in interest expense was primarily attributable to the decrease in the expensing of the original issue discount arising from the allocation of proceeds to the fair value of warrants and the beneficial conversion features of the related debt. About NCT Group, Inc. NCT Group, Inc. is an innovative, high-technology development company rich in intellectual property with hundreds of patents and related rights. The Company is strategically focused on communications initiatives through its subsidiaries, Artera Group, Inc., a developer of software-based network optimization optimization Field of applied mathematics whose principles and methods are used to solve quantitative problems in disciplines including physics, biology, engineering, and economics. solutions for service providers as well as small business, enterprise and government networks; Pro Tech Communications, Inc. (OTCBB: PCTU), a manufacturer of audio and communications solutions and other products for business users, industrial users and consumers; and NCT (Europe) Ltd., a developer of ClearSpeech(R) noise and echo cancellation The elimination of an echo in a two-way voice transmission. Echo is created in the telephone company's central office switch when two-wire lines from the customer are converted to four-wire lines for backbone trunks. algorithms for 3G phones, hands-free car kits, "drive thru" intercoms, Formula 1 and NASCAR NASCAR (National Association for Stock Car Auto Racing), organization that sanctions American stock-car races, est. 1948. It held its first race in Daytona Beach, Fla. radio systems, business intercom products and radio communication devices. For more information visit www.nctgroupinc.com. NCT Group, Inc. For The Three Months Ended (Unaudited) March 31, ------------------------------------------------------------- (in millions, except per share 2005 amounts) Restated 2006 ------------------------------------------------------------- Total revenue $1.6 $1.0 ------------------------------------------------------------- Operating cost and expenses $2.5 $2.9 ------------------------------------------------------------- Non-operating items $18.9(a) $12.0(b) ------------------------------------------------------------- Net loss $(19.8) $(14.0) ------------------------------------------------------------- Net loss per share $(0.03) $(0.02) ------------------------------------------------------------- Weighted average number of common shares outstanding 645.0 856.4 ------------------------------------------------------------- Footnotes: (a) Includes $18.1 million for interest expense and $0.8 million for penalties and other costs associated with our financing activities. (b) Includes $9.2 million for interest expense and $2.8 million for penalties and other costs associated with our financing activities. Cautionary Statement Regarding Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. Statements in this press release that are not historical are forward-looking. These statements are subject to numerous risks and uncertainties that could cause actual results to differ materially, including but not limited to: NCTI's ability to generate sufficient funds to execute its business plan; its ability to obtain additional financing if and when necessary; its ability to repay or refinance Refinance 1. When a business or person revises their payment schedule for repaying debt. 2. Replacing an older loan with a new loan offering better terms. Notes: When a business refinances they typically extend the maturity date. indebtedness INDEBTEDNESS. The state, of being in debt, without regard to the ability or inability of the party to pay the same. See 1 Story, Eq. 343; 2 Hill. Ab. 421. 2. as it becomes due; the results of litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. ; general economic and business conditions; the level of demand for NCTI's products and services; the level and intensity of competition in the technology industry; NCTI's ability to develop new products and the market's acceptance of those products; and its ability to manage its operating costs operating costs npl → gastos mpl operacionales effectively. These forward-looking statements speak only as of the date of this press release. NCTI undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. These and other factors affecting NCTI's business and prospects are discussed in greater detail in NCTI's filings with the Securities and Exchange Commission, which are available online in the EDGAR Edgar or Eadgar (both: ĕd`gər), 943?–975, king of the English (959–75), son of Edmund, king of Wessex. In 957 the Mercians and Northumbrians rebelled against Edgar's brother Edwy and chose Edgar as their king. database at http://www.sec.gov. |
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