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ACS ENTERPRISES REPORTS EARNINGS

    BENSALEM, Pa., Aug. 13 /PRNewswire/ -- Alan Sonnenberg, chairman of the board and chief executive officer of ACS Enterprises, Inc. (NASDAQ: ACSE; BSE: ENT), today announced that the company has filed its second quarter results of operations:
                      ACS ENTERPRISES, INC.
                         (Unaudited)
    Periods ended              Three months            Six months
    June 30                   1993       1992        1993       1992
    Revenues               $1,454,648 $1,119,019  $2,756,182 $2,190,346
    Net loss                 (409,647)  (477,156)   (875,924)  (899,206)
    Net loss per
     common share               ($.22)     ($.67)      ($.47)    ($1.26)
    Weighted average common
     shares outstanding     1,895,270    714,661   1,872,894    713,966
    The increase in revenues reflects the continuing expansion of the company's Philadelphia area wireless cable system.  Before interest and depreciation and amortization expense, operating results improved by $125,000, compared to the second quarter of 1992.
    The rate of new subscriber sales and installations increased significantly during the second quarter of 1993.  This increase is a result of the company's marketing campaign directed primarily to single family homes featuring its recently expanded channel offering, and the continuing addition of installation technicians.  During the second quarter of 1993, the company added, on a net basis, approximately 2,900 single family homes subscribers.  As of June 30, 1993, the company had 16,300 equivalent basic subscribers to its Philadelphia area wireless cable system, up 19 percent from 13,700 on March 31, 1993.
    The company occupied new expanded facilities on July 5, 1993, which permits more efficient operations.  Reflecting this greater efficiency, the ongoing increase in the number of installation technicians, and the growing acceptance of the company's wireless cable service, the growth in the number of new subscribers is expected to increase during the second half of this year.
    Also, the company has received letters of intent from two groups to provide a total of $30 million of new financing.  This financing is in the form of $20 million of senior debt, $6 million of redeemable preferred stock and $4 million of convertible preferred stock.  Each offer is contingent on completion of the other, completion of both groups' due diligence process, and final creditor/investor approval. This financing would be used principally for the addition of new subscribers.
    /delval/
    -0-             08/13/93
    CONTACT:  Alan Sonnenberg, chairman and chief executive officer of ACS Enterprises, 215-245-4900
    (ACSE) CO:  ACS ENTERPRISES, INC. IN:  ENT SU:  ERN ST:  PA


-- PH008 -- X618 08/13/93
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Publication:PR Newswire
Date:Aug 13, 1993
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