Telebyte Reports First Quarter Results.Business Editors/High-Tech Writers GREENLAWN, N.Y.--(BUSINESS WIRE)--May 15, 2003 Telebyte Inc. and its subsidiary (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: TBTI), a manufacturer of data communications data communications, application of telecommunications technology to the problem of transmitting data, especially to, from, or between computers. In popular usage, it is said that data communications make it possible for one computer to "talk" with another. and Telecom equipment, today released its financial results for the first quarter ended March 31, 2003. Telebyte reported net revenues for the quarter ended March 31, 2003 of $976,565, a decrease of 23.9% as compared to $1,283,318 for the same period in 2002. The net loss for the quarter ended March 31, 2003 was $155,763 or $(.12) diluted per share, as compared to a net loss of $177,761 or $(.14) diluted per share for the same period in 2002. Management believes the decrease in net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight during the first quarter is primarily the result of the continued general slow down in the economy. Dr. Kenneth S. Schneider, Telebyte's Chairman and Chief Executive Officer stated, "We are disappointed with the results of the first quarter of 2003. During the first quarter the Company focused on the development of the Model 4101-J, an ADSL See DSL. ADSL - Asymmetric Digital Subscriber Line + loop simulator (1) Software that enables the execution of an application written for a different computer environment. Same as emulator. (2) Software that models the interactions of hypothetical or real-world objects or business processes. for use in the Japanese market. The Company has designed this product in order to enable its expansion into the Japanese market."
Telebyte, Inc. and Subsidiary (TBTI)
Statement Of Operations (Unaudited)
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Quarter ended March 31,
2003 2002
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Net Sales: $976,565 $1,283,318
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(Loss) Income Before Taxes: $(152,763) $(296,261)
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Income Tax (Benefit) Provision: $3,000 $(118,500)
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Net (Loss) Earnings: $(155,763) $(177,761)
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Earnings (Loss) Per Share:
Basic $ (.12) $ (.14)
Diluted $ (.12) $ (.14)
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Average Shares Outstanding:
Basic 1,253,631 1,253,631
Diluted 1,253,631 1,253,631
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This release may include 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. concerning Telebyte's intent, belief or current expectations with respect to, among other things, trends affecting its financial condition or results of operations and its business and growth strategies. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties including without limitation, those risks set forth under the caption "Risk Factors" in our Annual Report on Form 10-KSB for the year ended December 31, 2002, that may cause actual results to differ materially from those projected, expressed or implied. Telebyte does not undertake any obligations to update or revise any forward-looking statements. All forward-looking statements are subject to the risks and uncertainties detailed in the Company's filing with the Securities and Exchange Commission. Headquartered in Greenlawn, New York Greenlawn is a census-designated place (CDP) in Suffolk County, New York, United States. The population was 13,286 at the 2000 census. Geography Greenlawn is located at (40.857648, -73.365932)GR1. , Telebyte, Inc. is a leading manufacturer of data communications equipment See DCE. Data Communications Equipment - Data Communication Equipment for copper and fiber networks. In addition, the high-tech enterprise designs and manufactures Broadband laboratory and production simulation equipment. Telebyte supports a wide range of communication solutions and services including local-loop simulators, LAN (Local Area Network) A communications network that serves users within a confined geographical area. The "clients" are the user's workstations typically running Windows, although Mac and Linux clients are also used. transceivers, interface converters, short-haul modems See line driver. , and fiber-optic products. Since 1983, the publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. has been dedicated to leading its industry in product quality and customer service, deploying thousands of Telebyte products around the world. Additional information on Telebyte and Nextday.com. can be found at www.telebyteusa.com, www.telebytebroadband.com and www.Nextday.com. |
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