Printer Friendly

BOSTON TECHNOLOGY ANNOUNCES THIRD QUARTER RESULTS: COMPANY POSTS PROFIT OF 5 CENTS PER SHARE

 WAKEFIELD, Mass., Nov. 18 ~PRNewswire~ -- Boston Technology, Inc. (NASDAQ-NMS: BSTN) today reported net income of $1,061,000 on an 87 percent increase in revenues of $13,274,000 for the third quarter of fiscal year 1993 ended Oct. 31, 1992. These results compare to a net loss of $2,335,000 on revenues of $7,087,000 for the corresponding three-month period of fiscal year 1992. Net income per share for the third quarter of fiscal 1993 was 5 cents compared to a net loss per share of 10 cents for the third quarter of fiscal 1992 ended Oct. 31, 1991.
 For the nine-month period ended Oct. 31, 1992, the company reported revenues of $33,456,000, up from $28,126,000 for the same period of fiscal 1992. Net income and net income per share for the first nine months of the current fiscal year were $1,903,000 and 8 cents, respectively, compared to a net loss of $2,199,000 and a net loss per share of 10 cents for the nine months ended Oct. 31, 1991.
 "This past quarter was the most successful in the history of Boston Technology," stated David S. Gergacz, the company's president and chief executive officer. "Increased demand by our telephone company customers for custom software, and increased demand by their customers for enhanced services account for our revenue increase and improving margins."
 Gergacz continued, "At the same time we have been focused on expanding our customer base, both domestically and overseas. We have responded to increased global demand by enhancing our product line and developing new applications to enable our customers to provide more sophisticated services to their growing customer bases."
 Based in Wakefield, Mass., Boston Technology (NASDAQ-NMS: BSTN) develops, manufactures, markets and supports enhanced voice processing platforms for Regional Bell Operating Companies, independent telephone companies, long-distance providers, cellular and international telecommunications companies.
 (CO ACCESS is a trademark of Boston Technology, Inc.)
 BOSTON TECHNOLOGY, INC.
 Financial Results
 (unaudited)
 For the three months For the nine months
 ended Oct. 31, ended Oct. 31,
 1992 1991 1992 1991
 Revenues $13,274,000 $7,087,000 $33,456,000 $28,126,000
 Costs and expenses:
 Cost of revenues 4,407,000 2,792,000 11,365,000 11,553,000
 Research &
 development 2,690,000 3,236,000 7,206,000 8,841,000
 Marketing, general &
 administrative 4,628,000 3,787,000 12,360,000 10,405,000
 Total 11,725,000 9,815,000 30,931,000 30,799,000
 Income (loss)
 from operations 1,549,000 (2,728,000) 2,525,000 (2,673,000)
 Interest income, net 78,000 141,000 219,000 474,000
 Income (loss) before
 provision for (benefit
 of) income taxes 1,627,000 (2,587,000) 2,744,000 (2,199,000)
 Provision for
 (benefit of) income
 taxes 566,000 (252,000) 841,000 ---
 Net income (loss) $1,061,000 $(2,335,000) 1,903,000 (2,199,000)
 Net income per share 5 cents (10 cents) 8 cents (10 cents)
 Weighted average number
 of common and common
 equivalent shares
 outstanding 23,342,000 22,549,000 23,025,000 22,480,000
 -0- 11~18~92
 ~CONTACT: Katherine Raphaelson of Boston Technology, 617-246-9000 ext. 3504~
 (BSTN)


CO: Boston Technology, Inc. ST: Massachusetts IN: CPR TLS SU: ERN

CN -- NE004 -- 2204 11~18~92 09:32 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 18, 1992
Words:562
Previous Article:DIMENSIONAL MEDICINE REPORTS SECOND QUARTER RESULTS
Next Article:HITACHI AND TEXAS INSTRUMENTS ANNOUNCE ALTERNATE SOURCING OF TWO INDEPENDENT LOW-VOLTAGE LOGIC FAMILIES
Topics:


Related Articles
BOSTON TECHNOLOGY ANNOUNCES RESULTS FOR FISCAL 1992
BOSTON TECHNOLOGY ANNOUNCES SECOND QUARTER RESULTS; COMPANY POSTS PROFIT OF 3 CENTS PER SHARE
BOSTON TECHNOLOGY ANNOUNCES RESULTS FOR FISCAL 1993
BOSTON TECHNOLOGY ANNOUNCES RESULTS FOR FISCAL 1994
Money Briefs.

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