BRITE VOICE SYSTEMS REPORTS FIRST QUARTER RESULTS
BRITE VOICE SYSTEMS REPORTS FIRST QUARTER RESULTS WICHITA, Kan., April 28 /PRNewswire/ -- Brite Voice Systems Inc.
(NASDAQ: BVSI) reported a small profit for the first quarter ended March 31, 1992. Revenues for the quarter were $4,852,000, a 30 percent increase compared to the first quarter of 1991. Net income was $35,000 (1 cent per share) compared to $314,000 (8 cents per share) a year ago.
"We are disappointed with our results for the quarter ended March 31," stated Stan Brannan, Brite's president and CEO. "Although revenues increased 30 percent, this can be attributed to the inclusion of our subsidiary, Brite Voice Systems Group Ltd., which was acquired effective May 1 of last year. While international sales have remained strong, domestic revenues have remained below our expectations, primarily due to the lack of any large system sales in the quarter. Expenses were higher because we are investing in several very important new product and business development projects to offer managed voice processing services. Without these new developments we could trim expenses, but it would be a very short-term gain, as we need new products and business development to meet our longer term growth objectives. We are continually examining our expenses and taking action which we believe will lead to improved results in the last half of the year." BRITE VOICE SYSTEMS INC. (in thousands, except per share amounts) Three Months Ended March 31, 1992 1991 Revenues $4,852,000 $3,726,000 Operating income (loss) (90,000) 264,000 Income before taxes 39,000 424,000 Net income 35,000 314,000 Income per share $0.01 $0.08 Weighted average shares outstanding 4,151,000 4,118,000 -0- 4/28/92 /CONTACT: Glenn Etherington of Brite Voice Systems, 316-652-6500/ (BVSI) CO: Brite Voice Systems Inc. ST: Kansas IN: TLS SU: ERN
BB -- DV002 -- 3613 04/28/92 09:31 EDT
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|Date:||Apr 28, 1992|
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