Printer Friendly

THRIFTY TEL INC. REPORTS REVENUE AND EARNINGS FOR THE SIX-MONTH PERIOD ENDED NOV. 30, 1991

 THRIFTY TEL INC. REPORTS REVENUE AND EARNINGS
 FOR THE SIX-MONTH PERIOD ENDED NOV. 30, 1991
 LOS ANGELES, Jan. 14 /PRNewswire/ -- Thrifty Tel Inc. (NASDAQ: THRF), a long distance telephone service company, today announced the company's results for the six-month period ended Nov. 30, 1991.
 Revenue for the period reached $6,070,374, an increase of $2,203,325 over revenue of $3,867,049 reported in the comparable prior-year period. Net income totaled $507,656 compared to net income of $320,598 for the same prior-year period, an increase of $187,058 or 37 percent.
 The company reported a weighted average of 20,167,419 shares outstanding or earnings of .025 cents per share for the current-year period compared to .016 cents per share for the comparable prior-year period.
 Gross profit improved to $1,925,761 for the period compared to $1,221,671 for the prior period ended Nov. 30, 1990.
 The company's financial position at Nov. 30, 1991 shows a strong improvement in its total current assets of $3,228,194 compared to $2,710,566 at the end of the prior quarter ended Aug. 31, 1991.
 During the second quarter ended Aug. 30, 1991, the company successfully increased its monthly subscriber base to 9,700 by the period end. The increase is attributed to the company's continued sales and marketing efforts, improved services and expanded geographic territories.
 Management stated that the company has achieved the ability to stabilize costs, reduce debt and increase gross revenue at an extremely rapid pace while continuing to demonstrate profitability. The tremendous improvement is primarily a result of the increase in monthly subscribers, volume of usage and a decrease in operating costs and costs of sales.
 Thrifty Tel Inc. is a long distance telephone service company headquartered in Garden Grove, Calif., with additional sales and marketing facilities located in Los Angeles, Orange, San Bernardino and San Diego Counties, Calif. The company offers digital fiber optic quality service at extremely competitive rates and is approved by the California Public Utilities Commission.
 -0- 1/14/92
 /CONTACT: Rebecca J. Bigley of Thrifty Tel, 714-740-2880/
 (THRF) CO: Thrifty Tel Inc. ST: California IN: TLS SU: ERN


KJ-CH -- LA002 -- 9397 01/14/92 09:08 EST
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:Jan 14, 1992
Words:370
Previous Article:THE PRICE COMPANY ANNOUNCES FIRST QUARTER FISCAL 1992 RESULTS
Next Article:RIVA PETROLEUM INC. REPORTS STATUS OF PICO ANTICLINE DRILLING VENTURE
Topics:


Related Articles
THRIFTY TEL ANNOUNCES APPROVAL OF ORDER TO DISMISS BANKRUPTCY
THRIFTY TEL INC. ANNOUNCES THE APPROVAL OF DISMISSAL FROM CHAPTER 11
IMMUCOR REPORTS SECOND QUARTER RESULTS
THRIFTY TEL INC. REPORTS REVENUE AND EARNINGS FOR THE NINE-MONTH PERIOD ENDED FEB. 29, 1992
THRIFTY TEL INC. ANNOUNCES TENTATIVE ANNUAL RESULTS FOR THE YEAR ENDED MAY 31, 1992
THRIFTY TEL INC. REPORTS FINANCIAL RESULTS FOR THE YEAR ENDED MAY 31, 1992
THRIFTY TEL INC. SIGNS LETTER OF INTENT TO ACQUIRE SOUTHERN CALIFORNIA LONG DISTANCE TELEPHONE SERVICE COMPANY
THRIFTY TEL INC. ANNOUNCES $1.5 MILLION DEBT FINANCING AND INVESTIGATION OF POTENTIAL MERGER WITH VALUE-ADDED COMMUNICATIONS
THRIFTY TEL INC. REPORTS FINANCIAL RESULTS FOR THE SIX MONTHS ENDED NOV. 30, 1993
THRIFTY TEL INC. COMPLETES $2.5 MILLION DEBT FINANCING WITH FIDELITY FUNDING OF CALIFORNIA INC.

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