Printer Friendly

SYNTELLECT ANNOUNCES FOURTH QUARTER AND YEAR-END RESULTS

 PHOENIX, Jan. 21 /PRNewswire/ -- Syntellect Inc. (NASDAQ: SYNL), a leading supplier of transaction voice processing systems (TVP), today announced results of operations for the fourth quarter and the year ended Dec. 31, 1992.
 Net revenues for the fourth quarter were a record $12.6 million, up 17 percent from the previous quarter and up 47 percent from revenues of $8.6 million for the same quarter last year. Net income for the fourth quarter was $872,000 or $.10 per share, compared to net income of $389,000 or $.05 per share, for the comparable quarter in 1991. This marks the second consecutive quarter of strong revenue growth and profitable operations.
 For the year ended Dec. 31, 1992, record net revenues of $40.2 million were up 39 percent from revenues of $28.9 million for the same period last year. Net income for the year was $221,000 or $.03 per share, compared to a net loss of $2.1 million, or $.25 per share, for the comparable period in 1991.
 Thomas R. Mayer, chairman, president and chief executive officer, said, "We continue to be encouraged by the results of our operations. Our goals for the second half of 1992 included increased profitability, carefully managed growth and cost reductions. We were successful in achieving those goals as both the third and fourth quarters of 1992 showed solid financial growth with improvements noted particularly in net revenues, operating income and net income."
 Mayer continued, "We strongly believe in the market for transaction voice processing systems, and our corporate goals continue to reflect this strategy. Our objectives for continued revenue growth include ongoing product development, strategic alliances and expanded distribution channels. Syntellect is a global company with a strong direct sales force in North America, the Pacific Rim and the U.K., complemented by an international distribution network of dealers and OEMs."
 Syntellect is a leading producer and marketer of transaction voice processing systems worldwide. The company has more than 10,000 INFOBOT(R) and Call Center Gateway systems installed at more than 1,000 customer sites in corporate and institutional markets in 35 countries. Dytel, a Syntellect subsidiary, develops and markets the Call Center Gateway. Syntellect Network Systems, also a Syntellect subsidiary, offers high-end voice network-based voice processing systems. All Syntellect products are distributed through a network of direct and indirect channels worldwide. The company is headquartered in Phoenix with offices throughout North America, Hong Kong and London.
 SYNTELLECT INC. AND SUBSIDIARIES
 Condensed Consolidated Statements of Operations
 Three Months and Year Ended Dec. 31, 1992 and 1991
 (In thousands, except per share amounts)
 Three Months Ended Year Ended
 Dec. 31, Dec. 31,
 1992 1991 1992 1991
 Net revenues:
 Product $11,018 $7,538 $34,783 $25,021
 Support 1,569 1,053 5,443 3,838
 Total net revenues 12,587 8,591 40,226 28,859
 Costs and expenses:
 Cost of revenues 3,887 2,398 12,374 9,040
 Selling, general and
 administrative 6,073 4,851 22,346 18,102
 Research and
 development 1,916 1,325 6,283 5,380
 Total costs and
 expenses 11,876 8,574 41,003 32,522
 Operating income (loss) 711 17 (777) (3,663)
 Interest income, net 191 372 1,028 1,586
 Income (loss) before
 income taxes 902 389 251 (2,077)
 Income taxes, net of
 tax benefit 30 --- 30 ---
 Net income (loss) $872 $389 $221 ($2,077)
 Net income (loss) per
 common and equivalent
 share $.10 $.05 $.03 ($.25)
 Shares used in per
 share calculations 8,377 8,263 8,339 8,164
 SYNTELLECT INC. AND SUBSIDIARIES
 Condensed Consolidated Balance Sheets
 Dec. 31, 1992, and Dec. 31, 1991
 (In thousands)
 1992 1991
 Assets
 Current assets:
 Cash and short-term investments $20,618 $27,920
 Receivables, net 14,979 7,541
 Inventories 8,323 7,409
 Prepaid expenses 401 315
 Total current assets 44,321 43,185
 Property and equipment, net 4,991 4,817
 Purchased technology and
 other assets, net 4,108 918
 Total $53,420 $48,920
 Liabilities and shareholders' equity
 Current liabilities:
 Accounts payable and
 accrued liabilities $5,658 $2,788
 Customer deposits 709 295
 Deferred revenue 2,245 1,742
 Current portion of long-term
 obligations 16 37
 Total current liabilities 8,628 4,862
 Long-term obligations, less
 current portion 1 18
 Shareholders' equity 44,791 44,040
 Total $53,420 $48,920
 -0- 1/21/93
 /CONTACT: Daniel J. Predovic, 602-789-2803, or E. Evon Theis, 602-789-2802, both of Syntellect/
 (SYNL)


CO: Syntellect Inc. ST: Arizona IN: SU: ERN

JB-LS -- LA006 -- 7586 01/21/93 16:01 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 21, 1993
Words:761
Previous Article:MARTIN MARIETTA 1992 EARNINGS PER SHARE UP 14 PERCENT TO RECORD $7.21
Next Article:SIERRA TUCSON COMPANIES INC. REPORTS 1992 FINANCIAL RESULTS
Topics:


Related Articles
SYNTELLECT ANNOUNCES FOURTH QUARTER AND YEAR END RESULTS
SYNTELLECT ANNOUNCES SECOND QUARTER AND SIX MONTHS RESULTS
SYNTELLECT ANNOUNCES THIRD QUARTER AND NINE MONTHS RESULTS
SYNTELLECT ANNOUNCES SECOND QUARTER RESULTS
SYNTELLECT ANNOUNCES EXPECTED LOSS FOR THE FOURTH QUARTER AND YEAR
SYNTELLECT ANNOUNCES FIRST QUARTER RESULTS
Syntellect Reports Fourth Quarter and 1996 Results
Syntellect Reports Third Quarter '98 Results.
Syntellect Reports Fourth Quarter and 1998 Results.
Syntellect Reports Profitable Fourth Quarter 1999 Results.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters