(PR NEWSWIRE) Billing Concepts Announces Outlook for Fourth Quarter 1999 R
Billing Concepts Announces Outlook for Fourth Quarter 1999 Results
SAN ANTONIO, Nov. 2 /PRNewswire/ -- Billing Concepts Corp. (Nasdaq: BILL)
announced today that the Company expects to record fourth quarter 1999 special
and other charges of approximately $2.1 million, or $0.03 per share. These
amounts relate primarily to contemplated spin-off, severance and bad debt
reserve related charges. Without the effect of the special charges and
excluding the Internet operations of the Company, the Company expects
preliminary, unaudited fourth quarter 1999 revenue of approximately
$45 million, pre-tax earnings of $6 million and earnings per share of
$0.09 - $0.10.
Parris H. Holmes, Jr., Chairman and CEO of Billing Concepts, stated, "The
Company experienced a short-fall in fourth quarter 1999 revenue from
expectations of approximately $2 million. This was due to lower activity
experienced by our enhanced services customers of the LEC Billing division and
a shortfall in revenue recorded for the quarter of our Aptis Software
division. Additionally, our results were adversely affected by our continued
investment in the growth in the Aptis Software division."
Holmes added, "We continue to focus on revenue stabilization and new
business opportunities for our LEC Billing division. Although the first
quarter of 2000 for our Aptis Software division will be adversely affected by
the reluctance of businesses to purchase software before Y2K, we are confident
about the growth opportunities in the billing software solutions market.
Finally, we continue to invest strategically in the high growth Internet arena
as shown with today's announced Internet-based financial services acquistions
and the increase in our investment in Princeton eCom.
Billing Concepts is the largest third-party provider of LEC billing
clearinghouse and information services to the communications industry. With
over 400 customers throughout North America, the Company offers outsourced
billing solutions for service providers, from the newest entrants to some of
the largest facilities-based providers in the industry. Headquartered in San
Antonio, TX, Billing Concepts Corp. maintains offices in Austin, TX, Corpus
Christi, TX, Glendale, CA and Albany, NY. For more information, visit
www.billingconcepts.com.
Aptis, Inc.
Aptis is one of the most experienced companies providing comprehensive
business support software and professional services to Internet, data and
network service providers, as well as integrated communications providers
(ICPs) of virtually any size. Aptis software and services quickly and
dramatically improve an organization's ability to grow by optimizing revenues,
simplifying software complexities and accelerating its time-to-market with new
products and services. Aptis has over 125 completed U.S. installations and
enterprise-wide agreements with progressive, next generation network services
providers such as WinStar Communications, Inc., CTC Communications, U.S. West
and IBM Global Services. For more information, visit www.aptissoftware.com.
Certain statements contained herein are "forward-looking" statements (as
such term is defined in the Private Securities Litigation Reform Act of 1995).
Because such statements include risks and uncertainties, actual results may
differ materially from those expressed or implied by such forward-looking
statements. Factors that could cause results to differ materially from those
expressed or implied by such forward-looking statements include, but are not
limited to, those discussed in filings made by the Companies with the
Securities and Exchange Commission.
CONTACT: Michael T. Hynes, Vice President, Investor Relations and
Treasury, 210-949-7030, or email, michael.hynes@billingconcepts.com, or David
P. Tusa, Senior Vice President and Chief Financial Officer, 210-949-4010, or
email, david.tusa@billingconcepts.com, both of Billing Concepts Corp.
SOURCE Billing Concepts Corp.
-0- 11/02/1999
/CONTACT: Michael T. Hynes, Vice President, Investor Relations and
Treasury, 210-949-7030, or email, michael.hynes@billingconcepts.com, or David
P. Tusa, Senior Vice President and Chief Financial Officer, 210-949-4010, or
email, david.tusa@billingconcepts.com, both of Billing Concepts Corp./
/Web site: billingconcepts.com
aptissoftware.com
(BILL)
CO: Billing Concepts Corp.; Aptis, Inc.
ST: Texas
IN: FIN CPR
SU: ERP
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