ViaGrafix 2nd-Quarter Sales Increase 42 Percent.PRYOR Pryor is a surname, which can refer to:
ViaGrafix Corporation (Nasdaq: VIAX), a leading provider of technology-based IT training products and graphics software products, reported 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 for the quarter ended June June: see month. 30, 1999 increased 42% to $6.0 million from $4.2 million in the second quarter of 1998. Its subsidiary, eTracks.com, Inc., acquired in July July: see month. 1998, reported record sales of over $1.0 million in the second quarter, a 51% increase over the first quarter of 1999. ViaGrafix incurred a net loss of $710,000 or $0.12 per share compared to net income of $502,000 or $0.08 per share in 1998's second quarter. ViaGrafix produces IT training products and graphics software products. ViaGrafix training courses include interactive multimedia courses for a variety of computer software, and are delivered on CD-ROM CD-ROM: see compact disc. CD-ROM in full compact disc read-only memory Type of computer storage medium that is read optically (e.g., by a laser). , 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. , over the Web, and on video. ViaGrafix offers more than 1,000 training titles. ViaGrafix is also the maker of DesignCAD A family of 2D and 3D CAD programs from Upperspace Corporation, Pryor, OK (www.upperspace.com) for Windows, noted for their ease of use. DesignCAD 3D includes such features as texture mapping, reflection mapping with up to eight light sources and keyframe animation. , a leading CAD CAD: see computer-aided design. (Computer-Aided Design) Using computers to design products. CAD systems are high-speed workstations or desktop computers with CAD software. package sold worldwide. The ViaGrafix Web site is located at www.viagrafix.com, and customer service can be reached at 800-842-4723. Its subsidiary, eTracks.com, Inc. (www.etracks.com/corp), provides interactive email broadcast services for businesses that rely on Web-based commerce and transactions and operates eTracks.com (www.etracks.com), an online community of more than 550,000 members.
ViaGrafix Corporation
Consolidated Statements of Operations
(Unaudited) (In thousands, except per share)
Three Months Ended Six Months Ended
June 30, June 30,
1999 1998 1999 1998
---- ---- ---- ----
Net sales $5,959 $4,187 $ 13,304 $8,264
Cost of sales 1,788 990 3,651 1,964
------ ------ -------- ------
Gross profit 4,171 3,197 9,653 6,300
Selling, general and
administrative 2,636 1,338 4,927 2,457
Advertising 1,824 787 5,201 1,607
Research & development 615 385 1,145 757
Depreciation &
amortization 373 119 709 205
------ ------ -------- ------
Total Operating
Expenses 5,448 2,629 11,982 5,026
------ ------ -------- ------
Operating profit (loss) (1,277) 568 (2,329) 1,274
Net interest income 98 161 212 163
------ ------ -------- ------
Income (loss) before
income taxes (1,179) 729 (2,117) 1,437
Provision (benefit)
for income taxes (469) 227 (856) 398
------ ------ -------- ------
Net income (loss) $ (710) $ 502 $ (1,261) $1,039
Basic earnings (loss)
per share ($0.12) $0.08 ($0.22) $0.20
Weighted average common
shares used in
computing basic earnings
(loss) per share 5,788 6,144 5,814 5,272
Diluted earnings
(loss) per share ($0.12) $0.08 ($0.22) $0.19
Weighted average common
shares used in
computing diluted earnings
(loss) per share 5,788 6,248 5,814 5,586
ViaGrafix Corporation (Unaudited)
Consolidated Balance Sheets
(In Thousands) June 30, December 31,
1999 1998
---- ----
Assets
Current Assets:
Cash and cash equivalents $ 7,203 $ 10,046
Short-term investments 3,100 3,000
Accounts receivable 3,332 4,713
Income taxes receivable 690 205
Inventories 2,757 1,909
Prepaid expenses 640 518
Deferred income taxes 523 57
---------- ----------
Total current assets 18,245 20,448
Property, plant and equipment 4,924 4,380
Accumulated depreciation 1,602 1,316
---------- ----------
3,322 3,064
Goodwill net of amortization 81 88
Capitalized customer
lists net of amortization 29 207
Capitalized software net of amortization 93 169
Prepaid royalties & licenses
net of amortization 388 543
Note receivable-officer 185 188
Deferred income taxes 415 509
---------- ----------
Total assets $ 22,758 $ 25,216
Liabilities and stockholders' equity
Current liabilities:
Trade accounts payable $ 1,403 $ 1,767
Accrued liabilities 489 512
Notes payable - 103
---------- ----------
Total current liabilities 1,892 2,382
Minority interest in subsidiary 25 -
Stockholders' equity:
Common stock, $.01 par value,
authorized 40,000,000 shares;
issued and outstanding 5,788,184 and
5,866,340 shares in
1999 and 1998, respectively 58 59
Additional paid-in capital 19,760 20,506
Unearned Compensation (90) (104)
Retained earnings 1,113 2,373
---------- ----------
Total stockholders' equity 20,841 22,834
---------- ----------
Total liabilities and
stockholders' equity $ 22,758 $ 25,216
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