From the 10/24 press release:
ONPT generated net income of $138,000, or 2 cents per share, for the third quarter of 1996 vs. a net loss of $4,059,000 in the prior-year comparable quarter. The third quarter of 1996 marked the second straight profitable quarter for ONPT. Revenues for the third quarter of 1996 were $2,904,000 vs. revenues of $4,030,000 for the prior-year comparable quarter.
The net income in the third quarter was achieved despite lower revenues as a result of better gross profit margins and lower operating expenses.
For the nine months ended Sept. 30, 1996, revenues were $8,535,000 vs. $13,431,000 for the prior-year comparable period. Although revenues decreased by 36% in 1996, ONPT improved its financial performance by $5,059,000 as its net loss was reduced from $5,157,000 in the first nine months of 1995 to $98,000 for the first nine months of 1996.
During the nine months ended Sept. 30, 1996, ONPT improved its working capital from $319,000 at Dec. 31, 1995, to $1,088,000 at Sept. 30, 1996. Further, ONPT owed minimal current and long-term debt, which was only $1,067,000 as of Sept. 30, 1996, on total assets of $14,033,000. ONPT also continued to have substantial positive equity of $6,608,000 as of Sept. 30, 1996.
Realize this is probably old news to you who have followed this stock longer than I have, but some of the financial info is newer than that from the 10Q report you're using, which is from March 1996. As they moved into a new building, costs for that should be taken into consideration. Also, they report new focus on expanding their market (which we all know they are currently doing).
Ellen |
