RSI SYSTEMS ANNOUNCES YEAR END RESULTS.MINNEAPOLIS--(BUSINESS WIRE)--Oct. 11, 1995--RSI Systems Inc. (the "Company"), (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :RSIS RSIS RS Information Systems, Inc. (McLean, VA, USA) RSIS Rotorcraft Systems Integrated Simulator RSIS Robotic Systems Integration Standards RSIS Relocatable Screen Interface Specification ), announced today that net revenues for fiscal year ended June 30, 1995 were $229,998. The company had no revenue in the prior fiscal year ended June 30, 1994. -0-
Year Ended June 30
---------------------
1995 1994
---- ----
Net revenues $ 229,998 $ 0
Income from operations $(2,512,394) $(469,140) Net income $(2,518,085) $(470,829) Net income per common share $ (1.31) $ (0.29)
Weighted average shares
and common share
equivalents outstanding 1,928,098 1,646,915-0-
Net income for fiscal 1995 was a loss of $2,518,085, compared to a net loss in fiscal 1994 of $470,829. Earnings per share were a negative $1.31 for fiscal 1995 compared to a loss of $0.29 for fiscal 1994. "RSI (Repetitive Strain Injury) Ailments of the hands, neck, back and eyes due to computer use. The remedy for RSI is frequent breaks which should include stretching or yoga postures. Systems is entering the market development phase of its strategic plan," said Dennis A. Leese, RSI's chief executive officer. "The results were what we had anticipated for fiscal 1995. We continue to execute our plan for increased sales and marketing of the Company's products. In fiscal 1995, the Company incorporated a European subsidiary, RSI Systems Limited, in Dewsbury, West Yorkshire West Yorkshire, former metropolitan county, N central England. Created in the 1974 local government reorganization, the county largely embraced the Leeds conurbation and comprised five metropolitan districts: Calderdale, Bradford, Leeds, Wakefield, and Kirklees. , U.K., to direct its sales and marketing effort to the European Community. Additionally, we established a sales division in Adelaide, South Australia to serve Australia and the Pacific Rim." "Most recently the Company has focused its efforts in three areas: Improving performance and features of the Eris System, obtaining international telecommunications certifications, and creating national and international sales and distribution channels. The Company recently began shipments of Eris application software version 1.6, which offers numerous speed and feature improvements over previous versions. The new software will be formally introduced when the Company exhibits at Telecon XV in Anaheim, California, October 25-27, 1995 and at Comdex in Las Vegas, November 13-17, 1995," Leese continued. In conjunction with those activities, the Eris Visual Communications System has passed NET 3 ISDN ISDN in full Integrated Services Digital Network Digital telecommunications network that operates over standard copper telephone wires or other media. telecommunications conformance testing for Europe, AUSTEL AUSTEL Australian Telecommunications Authority ISDN conformance testing for Australia, and JATE JATE Jack and Kate (TV show Lost) JATE Joint Air Transport Establishment (UK) JATE Japan Approvals Institute for Telecommunications Terminal Equipment testing for Japan. RSI Systems Inc. designs, develops and markets telecommunications products for videoconferencing, collaborative computing and high-speed file transfer. The company's product, the Eris Visual Communications System, is a portable, SCSI-based peripheral for voice, video and data conferencing, and is available with versions for both Windows based and Macintosh computers. CONTACT: Dennis A. Leese, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. William J. Brummond, CFO See Chief Financial Officer. 612/896-3020 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion