TREV develops and markets software products which provide businesses and government organizations with an automated method of electronically storing, managing and distributing large volumes of computer output and unstructured data. For the three months ended 3/31/98, revenues fell 32% to $6.2 million. Net loss applicable to Common fell 24% to $2.8 million. Results reflect the sale of the Company's subsidiary in France, offset by higher margins due to sales mix changes.
52 week high 1.97
52 week low .75
shares out 28M
float 21M
book value .22
11% held by insiders
as of 6/98 short interest: 1,114,000 shares short
New 10 Q results announced.. actual 10Q out on 8/10 - they are turning it all around.
The CEO in a May 19 press release said, "I have elected to cut my salary by over 50% in exchange for stock options to help in the reduction of expenses and to bring us closer to achieving profitability." That is a very encouraging sign to me. He will take stock instead of a salary? He must believe. They have bought back preferred stock, increased revs, and cut losses every quarter.
News Friday:http://biz.yahoo.com/bw/980717/scangraphi_1.html
Excerpts:
The Company expects that revenues for the second quarter of 1998 will increase 17% to $1.54 million versus $1.32 million a year earlier. The Company also expects revenues for the six months ended June 30, 1998, to increase by 21% to $2.75 million versus $2.28 million the prior year.
The Company indicated further that its second quarter results are in line with expectations, with revenue increasing 27% over the 1st quarter of 1998, and the Company is expecting to show quarter-to- quarter sequential improvement in revenues and earnings for the remainder of 1998.
The Company is expecting its net loss before preferred dividends to decrease by 30% to $971,000 for the second quarter of 1998, compared to $1,381,000 for the same quarter last year. The Company plans to issue its complete financial results the week of August 10, 1998.
Additionally, the Company said in a statement that there was no reason that it was aware of for the recent decline of its stock price. Shares of the Company closed Thursday, July 16, at 1-1/2, down from 2-5/8 at the end of 1997
Larry Osterwise, president and CEO of Scangraphics Inc. attributed the Company's revenue growth through the first six months of 1998 to the continued success of its Tangent Imaging Systems and TRC business units. He stated further that while Tangent and TRC are growing in a healthy way, SpatialVision from our Sedona business unit has the potential for explosive growth, and he said that the development of Sedona's SpatialVision is on schedule.
About SpatialVision ...
Sedona's SpatialVision incorporates many major attributes of Oracle Corp.'s (Nasdaq:ORCL - news; Nasdaq: ORCL - news) Network Computing Architecture with comprehensive support for both Spatial and Image Data Cartridges.
Using Sun Microsystems (Nasdaq: SUNW - news) Java(TM) development platform, SpatialVision unifies the desktop with application data and makes it available via the Internet. The easy to use GUI permits simple construction and execution of complex queries.
SpatialVision provides the businessman, the help desk operator or the sales support administrator with the necessary tools on their desktops or laptops for answering complicated questions from the field.
SpatialVision's ease of use, low cost of operation, and seamless integration into mainstream applications are critical features giving the Oracle8 Universal Server a bridge to the desktop. Go to www.sedonageo.com for a full presentation on SpatialVision. |
