TELS Corporation
Consolidated Statements of Operations
(Unaudited)
Three months ended Six months ended
June 30, June 30,
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1999 1998 1999 1998
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<S> <C> <C> <C> <C> <C> <C>
Net sales .................................. $ 1,276,952 $ 1,313,640 $ 2,402,554 $ 2,755,155
Cost of goods sold ......................... 471,422 678,223 856,450 1,289,513
Gross profit ...................... 805,530 635,417 1,546,104 1,465,642
Research and development expenses .......... 35,382 36,774 65,381 74,739
Selling, general and administrative expenses 675,890 809,975 1,288,748 1,551,038
Operating income (loss) ........... 94,258 (211,332) 191,975 (160,135)
Other income (expenses):
Interest income ................... 2,338 5,460 5,714 10,544
Interest expense .................. (29,533) (24,959) (56,486) (52,533)
Other ............................. 17,000 13,078 17,000 15,593
Other expense, net ................ (10,195) (6,421) (33,772) (26,396)
Income (loss) before income
tax (benefit) provision .......... 84,063 (217,753) 158,203 (186,531)
Income tax (benefit), provision ............ (24,783) (67,250) (53,733) (55,661)
Net income (loss) ................. $ 108,846 $ (150,503) $ 211,936 $ (130,870)
Basic and diluted net income (loss)
per common and common equivalent share ..... $ .03 $ (.04) $ .05 $ (.03) |
