NEOM:'Dramatic Reductions in Losses' and 'New Profit Opportunities' Reported by
NeoMedia In Second Quarter
and Six-Month Results
Business Editors
FT. MYERS, Fla.--(BUSINESS WIRE)--Aug. 5, 2003--NeoMedia
Technologies, Inc. (OTC BB: NEOM) today reported financial results for
the second quarter and six months ended June 30, 2003, showing what it
called "dramatic reductions in losses" and "new profit opportunities."
NeoMedia reported a net loss of $2.2 million, or $0.04 per share,
for the six-month period, decreases of 61% and 67%, respectively, as
compared with net losses of $5.7 million, or $0.12 per share, reported
for the same period in 2002.
NeoMedia also reported a net loss of $1.3 million, or $0.02 per
share, for the second quarter, decreases of 70% and 82%, respectively,
as compared with net losses of $4.3 million, or $0.11 per share,
reported for the second quarter of 2002.
"We are encouraged by posting dramatic reductions in losses," said
Charles T. Jensen, president, COO and acting CEO of NeoMedia.
"Further, the company announced two proposed acquisitions and mergers
(see "NeoMedia Reaches Agreement in Principal to Acquire Loch Energy,
Houston-Based Company with $410 Million in Proven and Probable Oil
Reserves," Business Wire, March 13, 2003, and "NeoMedia Signs LOI to
Acquire Secure Source Technologies Including Seven Patents with
Homeland Security and Wireless Industry Applications," Business Wire,
July 28, 2003) which we believe should present exciting new profit
opportunities for the second half of the current fiscal year and
beyond."
About NeoMedia Technologies
NeoMedia Technologies, Inc. (www.neom.com), is an innovator and
international leader in print-to-Internet and other technologies which
make information faster and easier to access, with expertise in
homeland security and e-authentication applications.
This press release contains forward-looking statements within the
meaning of section 27A of the Securities Act of 1933 and Section 21E
of the Securities Exchange Act of 1934. With the exception of
historical information contained herein, the matters discussed in this
press release involve risk and uncertainties. Actual results could
differ materially from those expressed in any forward-looking
statement.
PaperClick is a trademark of NeoMedia Technologies, Inc.
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NeoMedia Technologies, Inc.
Financial Data
(In thousands, except for per share data)
(unaudited)
Six Months Ended Three Months Ended
June 30 June 30
------- --------
2003 2002 2003 2002
---- ----- ------ -----
Net Sales:
License Fees $ 269 $ 153 $ 160 41
Software and
Equipment
Resales
and Service
Fees 1,279 4,895 514 3,611
Total Net Sales $ 1,548 $ 5,048 $ 674 $ 3,652
Gross Profit 209 499 113 417
Net Income/(Loss) (2,205) (5,729) (1,302) (4,347)
Net Income/(Loss)
per Share - Basic
and Diluted $ (0.04) $ (0.17) $ (0.02) $ (0.07)
Weighted Average
Shares
Outstanding -
Basic and Diluted 57,796,124 34,291,781 78,404,148 39,412,368
Balance Sheet Data
June 30, 2003
-------------
Cash $ 153
Current Assets 1,020
Total Assets 4,025
Current
Liabilities 9,892
Total Liabilities 10,031
Shareholders' Equity (6,006)
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--30--AD/ny*
CONTACT: NeoMedia Technologies, Inc.
Chuck Jensen, 239/337-3434
cjensen@neom.com
or
The Kaminer Group
David A. Kaminer, 914/684-1934
dkaminer@kamgrp.com
KEYWORD: FLORIDA
INDUSTRY KEYWORD: TELECOMMUNICATIONS SOFTWARE HARDWARE ENVIRONMENT
EARNINGS
SOURCE: NeoMedia Technologies, Inc.
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Aug-05-2003 18:31 GMT
Symbols:
US;NEOM
Source BW Business Wire
Categories:
MST/R/US/FL MST/I/TEL MST/I/SOF MST/I/CPM MST/I/POL MST/S/ERN
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