This sorta made my day a little brighter!!
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Tuesday April 15 4:06 PM EDT
NACT Telecommunications Reports Second Quarter FY 1997 Financial Results
PROVO, Utah, April 15 /PRNewswire/ -- Nact Telecommunications Inc today reported revenues and earnings for the second quarter of fiscal year 1997.
For the second quarter ended March 31, 1997, net revenues increased 102 percent to $6,286,000 from $3,110,000 in the same quarter ended March 31, 1996. Net income was $798,000 compared to a loss of $183,000 in the same quarter of last year. Earnings per share for the second quarter of this fiscal year were 11 cents compared with a loss of 3 cents for the same period last year.
For the six months ended March 31, 1997, net revenues increased 114 percent to $12,676,000 from $5,929,000 for the same period in fiscal 1996. Net income was $1,506,000 compared to a loss of $179,000 for the same period of the previous year. Earnings per share were 23 cents compared with a loss of 3 cents last year.
NACT achieved record 1997 second quarter revenues and profits and was ahead of the company's targeted plan--this despite the second quarter historically being a weaker quarter for NACT. In Q2 1997, revenue generated from switching application system sales increased 6 percent over the first quarter. Net income increased 13 percent over the first quarter due to increased product sales which have higher gross profit margins.
NACT is a leading provider of advanced turnkey specialty applications switching platforms and integrated billing solutions. The company targets its products to emerging telecommunications providers, independent telephone companies, Competitive Access Providers (CAPS)/Competitive Local Exchange Carriers (CLECS), shared tenant service providers, and Fortune 1000 corporations. NACT's product solutions offer value-added features and capacity at price points typically lower than those offered by its competitors. Founded in 1982, NACT is headquartered in Provo, Utah and has sales, service and support offices in Fla. and Wash. NACT is a majority-owned subsidiary of Vancouver, Wash.-based GST Telecommunications Inc . NACT's World Wide Web site can be accessed at nact.com. |
