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COM/TECH COMMUNICATION TECHNOLOGIES INC. ANNOUNCES THIRD QUARTER AND NINE MONTHS RESULTS.

Technologies, Inc. (NASDAQ:CMTK) today announced a net loss for the three months ended December 31, 1995, of $(310,148) as compared with a net profit of $243 for the three months ended December 31, 1994. The net loss for the nine months ended December 31, 1995, was $(2,322,167) as compared with a net loss of $(155) for the nine months ended December 31, 1994.

The increase in net loss of $2,322,012 is primarily attributable to the non-cash expense of $330,000 in connection with the Common Stock issued to employees and the $1,320,000 financing cost that was incurred in conjunction with the Bridge Loans received in May of 1995.

The Company is currently planning to expand its base in the satellite-delivered interactive learning field. Satellite-delivered interactive distance learning allows the simultaneous broadcast to any number of remote classrooms or sites using video-based communications systems. During the first half of calendar 1996, the Company has plans to open what it believes to be the first production studio in Manhattan specifically designed for distance learning.

In January the Company announced the conclusion of an agreement with the New York Society of Security Analysts for the joint development and delivery through distance learning technology, of courseware to candidates studying for the CFA (Certified Financial Analyst) examination. In January, Com/Tech also announced the formation of the NorthStar Distance Learning Division, to spearhead the company's current and future distance learning programs.

Com/Tech Communication Technologies is a developer and producer of educational television and satellite-delivered distance learning programs. Com/Tech is traded on the NASDAQ exchange, symbol CMTK. -0-

 COM/TECH COMMUNICATION TECHNOLOGIES INC.




 Three Months Ended Three Months Ended
 December 31, December 31,
 1995 1994


Revenues $387,427 $459,844


Net Income/(Loss) $(310,148) $243


Net Income/(Loss) Per Share $ (0.08) $ --


Average Shares Outstanding 3,710,000 2,560,000




 Nine Months Ended Nine Months Ended
 December 31, December 31,
 1995 1994


Revenues $840,849 $1,233,588


Net Income/(Loss) $(2,322,167) $(155)


Net Income/(Loss) Per Share $(0.78) $ --


Average Shares Outstanding 2,981,454 2,560,000




CONTACT: Peter D. Wild, President

COM/TECH COMMUNICATION TECHNOLOGIES INC.

(212) 826-2935

or

Stephen D. Axelrod

Mona J. Walsh

Barbara Yu (Media)

WOLFE AXELROD ASSOCIATES

(212) 370-4500

e-mail: 76015.440@compuserve.com
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Copyright 1996, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 
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Publication:Business Wire
Date:Feb 16, 1996
Words:389
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