Printer Friendly

INTERVOICE ANNOUNCES FISCAL 1992 EARNINGS

 INTERVOICE ANNOUNCES FISCAL 1992 EARNINGS
 DALLAS, May 19 /PRNewswire/ -- InterVoice Inc. (NASDAQ: INTV)


announced today earnings of $2,926,583 or 63 cents per share on sales of $30,230,923 for the fiscal year ended Feb. 29, 1992. This compares to earnings of $3,633,674 or 70 cents per share on sales of $20,414,538 for fiscal year 1991. Fourth quarter fiscal 1992 earnings totalled $1,343,738 or 29 cents per share on sales of $9,629,522, compared to earnings of $261,421 or 6 cents per share on revenues of $4,746,107, for the same quarter of the previous year.
 Effective with the fourth quarter of fiscal year 1992, InterVoice adopted AICPA Statement of Position 91-1 (SOP) titled "Software Revenue Recognition," which was issued Dec. 12, 1991. This SOP provided detailed guidance on software revenue recognition methods and was designed to eliminate diversity in income recognition practices that had developed within the software industry. The operating results for the fourth quarter of fiscal 1992 and the operating results for the fiscal year ended Feb. 29, 1992, reflect the new revenue recognition policy. Results for prior periods have been restated as required by the SOP.
 The fourth quarter and fiscal year 1992 results also reflect the adverse effect of new Texas Franchise Tax which required an expense in the fourth quarter of fiscal 1992 for taxes covering the two years ended Feb. 29, 1992. The net effect of this tax reduced fourth quarter and fiscal 1992 net income by $230,000 or 5 cents per share.
 Dallas-based InterVoice Inc., founded in 1983, is a full-service voice automation company that develops and markets systems for voice response, outbound dialing, call directing and audiotex. InterVoice systems automate telephone operator functions and are used in numerous applications in thousands of installations to enhance customer service and productivity.
 INTERVOICE INC.
 Quarterly Results of Operations
 (Dollars in thousands)
 1992 Fiscal Year(A)
 May 31, Aug. 31, Nov 30, Feb 29,
 1991 1991 1991 1992
 Sales $5,521 $6,216 $8,864 $9,630
 Income from
 operations ($239) ($87) $1,768 $2,062
 Net income $32 $115 $1,436 $1,344
 Earnings per share $0.01 $0.03 $0.31 $0.29
 Weighted average
 number of shares 4,607,856 4,495,176 4,668,772 4,706,622
 (A) As restated in accordance with SOP 91-1.
 The effect of adopting SOP 91-1 is as follows:
 May 31, Aug. 31, Nov 30, Feb 29,
 1991 1991 1991 1992
 Increase (decrease)
 in sales ($734) ($1,150) $566 $719
 Increase (decrease)
 in income from
 operations ($725) ($758) $613 $567
 Increase (decrease)
 in net income ($613) ($603) $440 $579
 Increase (decrease)
 in net income per
 share ($0.13) ($0.13) $0.10 $0.13
 INTERVOICE INC.
 (Dollars in thousands)
 1991 Fiscal Year(A)
 May 31, Aug. 31, Nov 30, Feb 29,
 1990 1990 1990 1991
 Sales $4,819 $4,171 $6,678 $4,746
 Income from
 operations $613 $32 $1,575 $145
 Net income $1,036 $515 $1,821 $261
 Earnings per share $0.18 $0.09 $0.38 $0.06
 Weighted average
 number of shares 5,780,922 5,560,003 4,743,164 4,555,865
 (A) As restated in accordance with SOP 91-1.
 The effect of adopting SOP 91-1 is as follows:
 May 31, Aug. 31, Nov 30, Feb 29,
 1990 1990 1990 1991
 Increase (decrease)
 in sales ($49) ($931) $1,677 ($909)
 Increase (decrease)
 in income from
 operations ($180) ($620) $1,162 ($617)
 Increase (decrease)
 in net income ($150) ($529) $1,051 ($541)
 Increase (decrease)
 in net income per
 share ($0.03) ($0.10) $0.22 ($0.12)
 Selected Financial Data
 Fiscal Year Ended Feb. 28/29
 1992 1991(B) 1990(B) 1989(B) 1988(B)
 Sales $30,231 $20,415 $22,494 $10,275 $5,938
 Income from
 operations $3,504 $2,366 $7,151 $2,363 $1,174
 Net income $2,927 $3,634 $6,013 $1,800 $737
 Net income per
 common share $0.63 $0.70 $1.26 $0.50 $0.23
 Weighted average
 number of shares 4,656,615 5,158,670 4,785,378 3,582,959 3,263,980
 (B) FY 1988, 1989, 1990 and 1991 have been restated as required by
 SOP 91-1.
 The effect of adopting SOP 91-1 is as follows:
 1992 1991 1990 1989 1988
 Increase (decrease)
 in sales ($598) ($211) ($1,901) ($775) ($73)
 Increase (decrease)
 in income from
 operations ($302) ($255) ($1,420) ($527) ($48)
 Increase (decrease)
 in net income ($198) ($168) ($938) ($348) ($30)
 Increase (decrease)
 in net income per
 share ($0.04) ($0.04) ($0.19) ($0.10) ($0.01)
 -0- 5/19/92
 /CONTACT: Donald B. Crosbie, CFO of InterVoice, 214-497-8720/
 (INTV) CO: InterVoice, Inc. ST: Texas IN: TLS SU: ERN


AH -- NY104 -- 2061 05/19/92 17:28 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:May 19, 1992
Words:806
Previous Article:JEAN PHILIPPE FRAGRANCES EARNS RANKING IN BUSINESS WEEK MAGAZINE 1992 LIST OF 'THE 100 BEST SMALL GROWTH COMPANIES'
Next Article:FINAL TALLY SHOWS OVERWHELMING VICTORY FOR JEFFERSON-PILOT DIRECTORS; SHAREHOLDERS APPROVE STOCK GRANT PROGRAM, REJECT PARSONS PROPOSALS
Topics:


Related Articles
INTERVOICE ANNOUNCES FISCAL 1993 FIRST QUARTER SALES AND EARNINGS
INTERVOICE ANNOUNCES FISCAL 1993 SECOND QUARTER SALES AND EARNINGS
INTERVOICE ANNOUNCES ADDITIONAL $2.8 MILLION SALE TO MCI
INTERVOICE AND TELECOM EQUIPMENT SIGN AGREEMENT
INTERVOICE ANNOUNCES RECORD EARNINGS AND SALES FOR FISCAL YEAR 1994
INTERVOICE APPOINTS GRAHAM TO CHIEF FINANCIAL OFFICER
INTERVOICE ANNOUNCES RECORD SALES AND EARNINGS IN ITS THIRD QUARTER OF FISCAL 1995
INTERVOICE ANNOUNCES ANNUAL AND QUARTERLY SALES AND EARNINGS RECORDS
INTERVOICE-BRITE ANNOUNCES PRELIMINARY FOURTH QUARTER RESULTS.
InterVoice-Brite Announces Preliminary Fourth Quarter Results.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters