INTER-ACTIVE SERVICES REPORTS 4TH QUARTER/YEAR END RESULTS
WALLED LAKE, Mich., Aug. 26 /PRNewswire/ -- Inter-Active Services Inc. (OTC Electronic Bulletin Board: ITAS), offering complete security management programs for residences and businesses in Florida and Michigan, today reported results for the fourth quarter and year ended June 30, 1992.
There was a fourth quarter net loss of $214,656 or six cents per share on revenues from installation, maintenance and monitoring of $824,268 compared to net income of $514,966 or 14 cents per share on revenues of $1,267,732 for the same period last year. For fiscal 1992, the company sustained a net loss of $285,599 or seven cents per share on revenues of $3,410,894 versus net income of $20,024 or less than one cent per share on revenues of $2,539,330 for fiscal 1991.
"Results for fiscal 1992 and the fourth quarter of the year were impacted by costs related to integrating recent acquisitions and closing our Michigan telemarketing operations," Sanford Siporin, president and chief executive officer, noted. "Our cash flow remains strong and we continue to aggressively seek acquisitions and increase our direct sales activities in Florida and Michigan," he added.
In July 1992, Inter-Active acquired Central State Security of Orlando, Fla., which provides over 100 electronic security management systems to residential and business customers in the Orlando area. At the same time, Inter-Active opened a corporate/sales office in Boca Raton, its first Florida office.
"Currently we are very active in helping residential and business customers secure their facilities from the severe damage caused by Hurricane Andrew," Siporin concluded.
Inter-Active's complete security management program includes fire, medical emergency, intrusion, temperature and sump pump monitoring to multi-family, residential, industrial, commercial and office buildings. The company utilizes telephone lines to monitor all locations serviced from its alarm response center in Walled Lake, Mich.
INTER-ACTIVE SERVICES, INC.
Period ended Three months Year ended
June 30 1992 1991 1992 1991
Revenues $824,268 $1,267,732 $3,410,894 $2,539,330
Income (loss) from
operations (30,716) 697,353 417,683 614,499
Net income (loss) (214,656) 514,966 (285,599) 20,024
Net income (loss)
per share (.06) .14 (.07) --
outstanding -- -- 4,395,327 3,920,000
/CONTACT: Sanford Siporin of Inter-Active Services, 313-669-2206/
(ITAS) CO: Inter-Active Services, Inc. ST: Michigan, Florida IN: SU: ERN TM-OS -- NY078 -- 3637 08/26/92 16:46 EDT