TENERA Announces Third Quarter Earnings.SAN FRANCISCO San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , Calif.--(BUSINESS WIRE)--Oct. 31, 1995--TENERA, Inc. (ASE (Adaptive Server Enterprise) A relational DBMS from Sybase that runs on Windows NT/2000, Linux and a variety of Unix platforms. ASE is a comprehensive and robust data management product with a long history dating back to the late 1980s. :TNR TNR The New Republic
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TNR Tonic Neck Reflex ) announced today revenue for the third quarter ended Sept. 30, 1995 of $7.2 million and pre-tax pre-tax adj → anterior al impuesto
pre-tax adj → avant impôt(s)
pre-tax adj → al lordo d'imposta earnings of $352 thousand or $0.02 net earnings per share, compared to revenue of $5.9 million and pre-tax earnings of $4 thousand for the comparable period in 1994.
Revenue for the nine months ended Sept. 30, 1995 was $18.3 million with pre-tax earnings of $789 thousand or $0.05 proforma Proforma
A financial projection based on assumptions. net earnings per share, compared to revenue of $19.4 million and pre-tax earnings of $361 thousand (which included a special item increase to earnings of $500 thousand) or $0.02 proforma net earnings per share for the comparable period.
Although earnings through June 30, 1995 were not subject to corporate income taxes, due to the Conversion from partnership to corporate form on June 30, 1995, historical earnings per share information have been adjusted for proforma income taxes calculated at a 40% effective tax rate.
During the third quarter, the company received written contracts and orders that have an estimated value of $5.4 million. The contract activity primarily reflects the next three months' funding at the Department of Energy's Rocky Flats Environmental Technology Site ("Rocky Flats"), in addition and other ongoing work for clients serviced by the company's other operating groups.
Contracted backlog Backlog
The total value of sales orders waiting to be fulfilled.
This figure is used mainly in the manufacturing industry. Increases or decreases in a company's backlog indicate the future direction of sales and earnings. for current, active projects totals approximately $7.6 million as of Sept. 30, 1995, down from $10.6 million as of June 30, 1995. The major component of the decrease in backlog is the removal of $1.5 million in Government Service's contracts that lost funding at the end of the Government's fiscal year (Sept. 30). In addition, contracted backlog does not include approximately $9.1 million of identified work at Rocky Flats that has not yet been funded for 1996.
Commenting on the results to date, Michael Thomas
"We have reestablished a level of sustained profitability as demonstrated by the first three quarters' earnings; completed the conversion of TENERA into corporate form; won and started performance of a multi-year contract award for participation on the Performance Based Integrating Management Contract at Rocky Flats; and successfully recruited an additional 100 professional employees to meet the expanded commitments at Rocky Flats and elsewhere."
Thomas (language) Thomas - A language compatible with the language Dylan(TM). Thomas is NOT Dylan(TM).
The first public release of a translator to Scheme by Matt Birkholz, Jim Miller, and Ron Weiss, written at Digital Equipment Corporation's Cambridge Research Laboratory runs added, "We have continued to meet important contracted milestones in the ongoing Software Services group's installation of TENERA's Maintenance Control Program (MCP (1) See Microsoft certification.
(2) (MultiChip Package) A chip package that contains two or more chips. It is essentially a multichip module (MCM) that uses a laminated, printed-circuit-board-like substrate (MCM-L) rather than ceramic (MCM-C). ) at various Transit Authorities; achieved and maintained significantly improved performance in staff productivity in the Power Generation and Electric Utilities consulting groups; and advanced the relationship with our new financial banking institution."
"Our work is not done," Thomas went on to say, "as we have not yet seen the positive impact of revitalizing re·vi·tal·ize
tr.v. re·vi·tal·ized, re·vi·tal·iz·ing, re·vi·tal·iz·es
To impart new life or vigor to: plans to revitalize inner-city neighborhoods; tried to revitalize a flagging economy. our sales and marketing processes. Considerable attention has been accorded to this important area and it is our intent to achieve growth in our contracted backlog on a sustainable and structured manner.
"During this year, we have begun a full-time, direct sales and marketing program concentrated on leveraging our success in the transportation marketplace. This focused effort is centered around maintenance application software and performance improvement consulting. While we have not yet realized the full benefits we expect from this approach, we are confident enough to begin extending this program into the power generation market."
"We remain committed to leverage opportunities," said Thomas, "to expand the value of our products and services delivered to clients, generate consistent operating profits Operating profit (or loss)
Revenue from a firm's regular activities less costs and expenses and before income deductions.
See operating income. , and enhance the reward of being Stockholders in TENERA."
TENERA, Inc., provides integrated management, consulting, and software solutions for utilities, the government, and large transportation corporations through offices in California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). , Colorado, Connecticut Connecticut, state, United States
Connecticut (kənĕt`ĭkət), southernmost of the New England states of the NE United States. It is bordered by Massachusetts (N), Rhode Island (E), Long Island Sound (S), and New York (W). , Idaho, Maryland, New York Maryland is a town in Otsego County, New York, United States. The population was 1,920 at the 2000 census.
The Town of Maryland is on the county's south border, and was named for the U.S. state of the same name. , Tennessee Tennessee, state, United States
Tennessee (tĕn`əsē', tĕn'əsē`), state in the south-central United States. and Washington. -0-
TENERA, Inc. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share amounts)
Qtr Ended Qtr Ended Nine Months Nine Months 9/30/95 9/30/94 9/30/95 9/30/94
Revenue $7,249 $5,907 $18,257 $19,404 Direct Costs 5,033 3,666 11,497 11,668 General and Administrative Expenses 1,866 2,231 5,976 7,888 Other Income (Expenses) 1 (12) 10 (12) Special Item 0 0 0 500 Operating Income 351 (2) 794 336 Interest Income (Expense) 1 6 (5) 25 Pre-Tax Earnings 352 $4 789 $361 Income Tax Expense 141 141 Net Earnings $211 $648 Proforma Net EPS $0.02 $0.05 Wtd. Average Shares O/S 10,588 9,861
CONDENSED CONSOLIDATED BALANCE SHEETS AT SEPTEMBER 30, 1995
ASSETS Cash and Cash Equivalents $ 745 Accounts Receivable, Net 7,355 Other Current Assets 763 Total Current Assets 8,863 Property and Equipment, Net 368 Other Assets 47 Total Assets $9,278
LIABILITIES AND SHAREHOLDERS' EQUITY Accounts Payable $ 913 Accrued Compensation & Related Expenses 2,186 Income Taxes Payable 141 Total Current Liabilities 3,240 Total Non-Current Liabilities 25 Total Shareholders' Equity 6,013 Total Liabilities and Shareholders' Equity $9,278
CONTACT: TENERA, Inc.
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