Walk Softly,
ZIXI? Yikes!! Lots of discussion on the ZIXI thread, mostly negative. Here is latest earnings(?) release.
ZixIt Corporation Announces Third Quarter 1999 Results
Thursday, November 11, 1999 06:02 PM
DALLAS, Nov. 11 /PRNewswire/ -- ZixIt Corporation (Nasdaq: ZIXI, news, msgs) announced today financial results for the third quarter and nine-month period ended September 30, 1999.
The company reported a third quarter net loss of $11,310,000, or $0.74 per share, and a nine-month period net loss of $26,095,000, or $1.71 per share. There are no comparable quarterly results for 1998, as the company completed the sale of all its previous revenue-generating businesses in November 1998.
ZixIt Corporation is the developer and owner of ZixIt(TM) Digital Signature and encryption technology. Products currently under development include: ZixMail(TM), a secure Internet-messaging system; and ZixCharge(TM), an Internet transaction authorization system. For further investor information about ZixIt, visit the company's Web sit at www.zixit.com or contact investor relations at 972-702-7057.
ZIXIT CORPORATION
(A Development Stage Company)
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
(Unaudited)
Three Months Ended Nine Months Ended
September 30, September 30,
1999 1998 1999 1998
Research and development
expenses $(5,112) $ --- $(19,177) $ ---
Operating costs and
general corporate expenses (7,310) (523) (10,585) (3,350)
Investment income 837 582 2,874 1,154
Income (loss) from
continuing operations
before income taxes (11,585) 59 (26,888) (2,196)
Income tax (provision) benefit 65 (54) 185 645
Income (loss) from continuing
operations (11,520) 5 (26,703) (1,551)
Discontinued operations 210 1,262 608 3,404
Net income (loss) $(11,310) $1,267 $(26,095) $1,853
Basic and diluted earnings
(loss) per common share:
Continuing operations $(0.75) $ --- $ (1.75) $(0.10)
Discontinued operations 0.01 0.08 0.04 0.21
Net income (loss) $(0.74) $ 0.08 $ (1.71) $ 0.11
Weighted average shares
outstanding 15,282 14,903 15,219 16,134
ZIXIT CORPORATION
(A Development Stage Company)
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
(Unaudited)
September 30, December 31,
1999 1998
ASSETS
Cash and marketable securities $ 55,708 $ 81,221
Due from sale of discontinued operations --- 5,304
Property and equipment, net 19,059 158
Other assets 775 215
$ 75,542 $ 86,898
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable and accrued expenses $ 7,098 $ 1,574
Liabilities related
to discontinued operations 1,360 3,875
Stockholders' equity 67,084 81,449
$ 75,542 $ 86,898
SOURCE ZixIt Corporation
CONTACT: Beverly V. Fuortes of ZixIt Corporation, 972-702-7057, or email, invest@zixit.com
Quote for referenced ticker symbols: ZIXI |
