TELS Corporation Announces Positive Results For Third Quarter
AMERICAN FORK, Utah, Nov. 18 /PRNewswire/ -- Stephen M. Nelson,
President of TELS Corporation (Nasdaq: TELS - news), today reported
financial results for the quarter ended September 30, 1997.
Consolidated net income from operations for the third quarter of 1997
was $91,564 or $.02 per share (3,891,774 outstanding shares). This is a
significant improvement when compared to the 1996 third quarter net
income of $29,399. Consolidated net sales of $1,719,386 for the third
quarter of 1997 increased 3% when compared to third quarter 1996
consolidated net sales of $1,671,874. Gross profit for the third quarter
of 1997 improved $230,971 when compared to the same period of 1996.
For the nine months ended September 30, 1997, TELS improved to a net
income of $29,237 or $.01 per share. This is a significant change in
operating results when compared to the net loss of $73,491, or $.02 per
share, for the same period of 1996.
Comments from Stephen M. Nelson, President
''We are encouraged by the 14% increase in sales of our
telecommunication products for the last nine months, and the 24%
improvement in our overall gross profit margin when compared to last
year. We hope our efforts to focus on core strengths will continue to
provide growth in sales and net income.'' Nelson added, ''We will
continue to stress the importance of returning to profitability.''
TELS Corporation through its subsidiaries, designs, builds, assembles,
sells and services call accounting and other telecommunications systems.
The company also assembles electronic systems on a contract basis, as
well as designs, sells and services computer software products. |
