Zitl ... the pre-earnings run-up ...
Zitel Reports Third Quarter Fiscal 1999 Results
FREMONT, Calif., July 20 /PRNewswire/ -- Zitel Corporation (Nasdaq: ZITL - news) today announced results for the third fiscal quarter ended June 30, 1999. The Company announced revenue of $6,318,000 for the third quarter of fiscal 1999 versus revenue of $5,340,000 for the same quarter of the prior year. Revenue from Datametrics Systems was $3,662,000 during the current quarter, an increase of 7% from $3,409,000 for the same quarter of the prior year. The net loss for the quarter was $1,840,000 or $0.08 per share versus a net loss of $18,527,000 or $1.07 per share for the same quarter of the prior year.
Weighted average shares outstanding in the third quarter of fiscal 1999 were 21,930,000 compared to 17,235,000 for the third
quarter of fiscal 1998. .........
.......... Jack H. King, President and CEO of Zitel, said, ''We continue to be pleased with the revenue growth of the Datametrics
software business unit. We are optimistic that we will see an increase in revenue on a year-to-year basis for the remainder of the fiscal year. Recent announcements from Datametrics have indicated that strong products and partnerships are in place to facilitate this growth.''
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