NCTI Reports Second 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 June 30, 2006 was $0.5 million compared to $0.8 million for the same period in 2005. The $0.3 million decrease in revenue was primarily due to an expected reduction in royalties resulting from the discontinuation dis·con·tin·u·a·tion n. A cessation; a discontinuance. Noun 1. discontinuation - the act of discontinuing or breaking off; an interruption (temporary or permanent) discontinuance of a customer's product on which one of our ClearSpeech algorithms was platformed. Net loss for the three months ended June 30, 2006 was $8.2 million compared to a net loss of $21.2 million for the same period a year ago. The $13.0 million decrease in net loss was primarily due to reductions in non-operating items. The company reported that total revenue for the six months ended June 30, 2006 was $1.5 million compared to $2.5 million for the same period in 2005. In addition to the above noted reduction in ClearSpeech-related royalties in 2006, the 2005 results included $0.5 million of previously deferred NXT NXT Next royalties which were fully recognized as of June 30, 2005. Net loss for the six months ended June 30, 2006 was $22.1 million compared to a net loss of $41.1 million for the same period in 2005. The $19.0 million decrease in net loss was primarily due to reductions in non-operating items. 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 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.
(Unaudited)
For The Three Months For The Six Months
Ended June 30, Ended June 30,
--------------------- ----------------------
(In millions, except per
share data)
2005 2005
(As Restated) 2006 (As Restated) 2006
------------- ------ ------------- -------
Total revenue $ 0.8 $ 0.5 $ 2.5 $ 1.5
Operating costs and
expenses $ 3.3 $ 3.1 $ 5.7 $ 6.0
Non-operating items $ 18.8(a) $5.6(b) $ 37.8(c) $17.6(d)
Net loss $ (21.2) $ (8.2) $ (41.1) $ (22.1)
Net loss per share $ (0.03) $(0.01) $ (0.06) $ (0.03)
Weighted average common
shares outstanding 645.0 906.5 645.0 872.7
Footnotes:
(a) Includes $15.2 million for interest expense and $1.8 million for
penalties and other costs associated with our financing
activities.
(b) Includes $6.3 million for interest expense and $2.1 million for
penalties and other costs associated with our financing
activities.
(c) Includes $33.3 million for interest expense and $6.1 million for
penalties and other costs associated with our financing
activities.
(d) Includes $15.5 million for interest expense and $9.6 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 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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