Printer Friendly

DATEQ INFORMATION NETWORK REPORTS RESULTS FOR 1992 SECOND QUARTER

DATEQ INFORMATION NETWORK REPORTS RESULTS FOR 1992 SECOND QUARTER
 NORCROSS, Ga., July 29 /PRNewswire/ -- DATEQ Information Network, Inc. (NASDAQ: DATQ) today announced revenues for the second quarter ended June 30, 1992, of $15,969,000 compared to $14,842,000 in the 1991 period. The company reported a net loss of $49,000, or 1 cent per share, for the 1992 second quarter, compared with net income of $176,000, or 7 cents per share, a year earlier.
 For the six months ended June 30, 1992, the company had revenues of $30,409,000 compared to $29,117,000 in the 1991 first half. The company experienced a net loss of $177,000, or 5 cents per share, in the 1992 six months, compared with net income of $466,000, or 18 cents per share, a year earlier.
 President and Chief Executive Officer Robert L. Stanley said second quarter results were due primarily to a change by several customers to lower margin delivery systems for Motor Vehicle Reports (MVRs) and volume discounts based on numbers of monthly MVR transactions. In addition, the policy renewal program in California was underway for only two months during the 1992 second quarter versus three months last year.
 Stanley also said the company has begun testing its claims product with several customers. However, it is continuing to experience delays in generating revenues from this product.
 In the 1991 second quarter and six months there were income tax benefits of $67,000 (3 cents per share) and $179,000 (7 cents per share), respectively, from the use of net operating loss carryforwards.
 Headquartered in Norcross, DATEQ Information Network, Inc. provides information for use in support of the underwriting activities of automobile insurance companies. Through its centralized information network, DATEQ provides automobile insurers with motor vehicle reports, licensed driver reports and registered vehicle reports on applicants.
 DATEQ INFORMATION NETWORK, INC.
 Comparative Financial Analysis
 (In thousands except per share data, unaudited)
 Period ended Three months Six months
 June 30 1992 1991 1992 1991
 Revenues $15,969 $14,842 $30,409 $29,117
 Costs and expenses:
 State access fees 14,919 13,345 28,397 26,128
 S,G&A expenses 1,128 1,297 2,257 2,475
 Total costs and expenses 16,047 14,642 30,654 28,603
 Income (loss) from operations (78) 200 (245) 514
 Other income (expense):
 Interest expense (18) (37) (39) (75)
 Interest income 47 2 103 5
 Other -- 13 4 26
 Total other income (expense) 29 (22) 68 (44)
 Income (loss) before income
 taxes and extraordinary item (49) 178 (177) 470
 Provision in lieu of
 income taxes -- 69 -- 183
 Income (loss) before
 extraordinary item (49) 109 (177) 287
 Extraordinary item-benefit
 from use of net operating
 loss carryforwards -- 67 -- 179
 Net income (loss) (49) 176 (177) 466
 Net income (loss) attributable
 to common shares (49) 176 (177) 454
 Net income (loss) per common share:
 Income (loss) before
 extraordinary item (.01) .04 (.05) .11
 Extraordinary item -- .03 -- .07
 Net income (loss) (.01) .07 (.05) .18
 Weighted average number of
 common and common equivalent
 shares outstanding 3,307 2,558 3,307 2,558
 -0- 7/29/92
 /CONTACT: Robert A. DiProva, chief financial officer of DATEQ Information Network, 404-446-8282, ext. 101/
 (DATQ) CO: DATEQ Information Network, Inc. ST: Georgia IN: CPR SU: ERN


AH-OS -- NY104 -- 4761 07/29/92 16:20 EDT
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:Jul 29, 1992
Words:558
Previous Article:DIGI INTERNATIONAL REPORTS 25TH CONSECUTIVE QUARTER OF RECORD SALES, 11TH OF RECORD EARNINGS
Next Article:SILICON GRAPHICS REPORTS STRONG EARNINGS AND REVENUE GROWTH BEFORE THE EFFECT OF ITS MERGER WITH MIPS COMPUTER SYSTEMS
Topics:


Related Articles
800,000 DATEQ INFORMATION NETWORK INITIAL COMMON SHARES OFFERED AT $10 PER SHARE
DATEQ INFORMATION NETWORK REPORTS RESULTS FOR FOURTH QUARTER AND YEAR
DATEQ INFORMATION NETWORK REPORTS RESULTS FOR 1992 FIRST QUARTER
SIX MONTHS EARNINGS AFFECTED BY SECOND QUARTER LOSS, REPORTS nVIEW
PAGING NETWORK ANNOUNCES CONTINUED GROWTH
I.I.S. INTELLIGENT INFORMATION SYSTEMS LIMITED REPORTS SECOND QUARTER RESULTS
DATEQ INFORMATION NETWORK REACTS TO ACXIOM/ALLSTATE AGREEMENT
PMSC AND TRANS UNION EXPAND ALLIANCE
Trans Union Enters Strategic Agreement With Asset Allocation Management
ChoicePoint Acquires DATEQ Information Network, Inc.

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