ST Systems Reports Strong Third Quarter Results; Nine Month Revenues Up 54%, Earnings Jump 136%.VANCOUVER, B.C.--(BUSINESS WIRE)--Nov. 17, 1999-- ST Systems Corp. today announced results for the third quarter of 1999. Third-Quarter Results --------------------- (three months ended September 30, 1999 compared with three months ended September 30, 1998) - Revenues were US$4.0 million compared with US$2.9 million, an increase of 38%. - Net profit was US$195,000 compared with US$139,000, an increase of 40%. - Net profit per share was US$0.02 compared with US$0.01. Nine-Month Results ------------------ (nine months ended September 30, 1999 compared with nine months ended September 30, 1998) - Revenues were US$13.1 million compared with US$8.5 million, an increase of 54%. - Net profit was US$715,000 compared with US$303,000, an increase of 136%. - Net profit per share was US$0.06 compared with $0.03. David Whiteside, President, said with the strong third-quarter results now in hand, ST is demonstrably achieving the challenging growth targets set for itself at the beginning of 1999. Third-quarter revenues were up 38% from the third quarter of 1998, with a corresponding increase in profits of 40%. More dramatic were the year-to-date results. Nine-month revenues increased 54% to US$13.1 million, with net earnings growing at a significantly higher rate of 136% compared with the same period last year. Most significantly, Mr. Whiteside added, the Company's 1999 nine-month revenues have now surpassed those for the entire year in 1998. ST has undertaken to continue this impressive growth through a range of internal improvements and a recent acquisition. Earlier this year, ST stated its intention to continue to reposition itself as a one-stop shop One-Stop Shop A company or a location that offers a multitude of services to a client or a customer. The idea is to provide convenient and efficient service and also to create the opportunity for the company to sell more products to clients and customers. for all the restaurateurs' needs. To that end, the Company announced the formation during the third quarter of the Supplies Division, its purpose being to become the one-stop source for Point-Of-Sale (POS (1) See point of sale and packet over SONET. (2) "Parent over shoulder." See digispeak. POS - point of sale ) consumables. The Company's fine-dining product division, Sable sable, species of marten, Martes zibellina, found in Siberia, N European Russia, and N Finland. This carnivorous mammal is highly valued for its thick, soft fur, which is dark brown or black, sometimes with white underparts and sometimes flecked with silver. Technologies, has expanded its recently formed direct sales force into a number of new major metropolitan areas to supplement the pre-existing teleselling outreach. In addition, ST has added key personnel in the areas of product development and service to support its ongoing expansion. Subsequent to the end of the third quarter, Sable also completed the acquisition of the business base, assets, and service base of Business Machines Inc. (BMI BMI body mass index. BMI abbr. body mass index Body mass index (BMI) A measurement that has replaced weight as the preferred determinant of obesity. ), a successful West Palm Beach, Florida-based restaurant POS Restaurant POS refers to the Point Of Sale (POS) software running on a touch screen based computer system. In a restaurant, touch screen computer systems are essential and allow the restaurant's proprietor to keep track of every transaction in realtime. dealer. As an extension of the teleselling and direct sales forces, the acquisition of a major dealer is another example of Sable's emergence as a dominant player in the restaurant POS industry. Sable Technologies is in the process of shipping the final Version 4.0/Y2K Upgrade Kit to its entire installed base. All of the Company's current products were designed for Year 2000 (Y2K See Y2K problem and Y2K compliant. Y2K - Year 2000 ) compatibility and, even though all are dependent on Microsoft's Windows NT (Windows New Technology) A 32-bit operating system from Microsoft for Intel x86 CPUs. NT is the core technology in Windows 2000 and Windows XP (see Windows). Available in separate client and server versions, it includes built-in networking and preemptive multitasking. operating system operating system (OS) Software that controls the operation of a computer, directs the input and output of data, keeps track of files, and controls the processing of computer programs. , we know of no problems of major significance at this time. ST Systems continues to monitor the Y2K compliance performance on an ongoing basis. ST Systems, through its subsidiaries Sable Technologies and Documentor Sciences, provides experienced, professional systems-integration services, addressing the Point-Of-Sale and back-office needs of both full-service and fast-food restaurants. With its deserved reputation for 24-hour service and customer loyalty, ST Systems is favorably positioned for continued growth and profitability into the new millennium. Shares of ST Systems trade on the Vancouver Stock Exchange Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). under the symbol SYT SYT Sweet Young Thing SYT Save Your Time (software) SYT See You Tomorrow SYT Scottish Youth Theatre SYT See You There SYT Standard Young Tableaux (enumerative combinatorics) SYT South Yorkshire Times .U. U.S. SEC exemption: 12g3-2(b) 82-4094. The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion