Looks good D-man. I like the increase in the profit margin.
Gross profit for the fourth quarter was $438,000, or 6.9% of revenue, compared to gross profit of $34,000, or
2.3% of revenue, in the fourth quarter of 1997, an increase of 1,188%. As compared to the third quarter of
1998, gross profit increased 116% from $203,000, or 3.2% of revenue.
Nice to see the comparisons to the 3rd quarter as well as a year ago, because they have come so far in a year, they are hardly the same company. Not that I am saying that the nice year-over-year growth is a bad thing. <g>
This is a good thing too,especially for an expanding business:
Net of one-time charges, other operating costs
increased a modest 11% year-over-year relative to the 327% increase in revenues.
They still have a chunk of cash to work with.
Working capital at December 31, 1998 increased by
$11.3 million to $17.9 million, an improvement of 171% from September 30, 1998.
This should help with the marketing expenses which were a major cash outflow.
The re-negotiation of its marketing agreement with America Online
Inc., which extends the terms into the year 2000 and significantly
reduces marketing expenses for 1999.
BWTHDIK
Margie |
