ryno, Here's the report....
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UniComp Reports Third Quarter Results
Third Consecutive Quarter of Increased Profitability
MARIETTA, Ga.--(BUSINESS WIRE)--Jan. 13, 2000-- UNICOMP, INC. (NASDAQ: UCMP) today announced revenue for the nine months ended November 30, 1999, from continuing operations was $20.9 million compared to $15.5 million for the same nine-month period in the previous year. For the three months ended November 30, 1999, the Company reported revenue from continuing operations of $7.5 million compared to $6.0 million for the same three-month period in the previous year. Net income from continuing operations for the three months ended November 30, 1999 was $429,000, or $0.06 per share, compared to $176,000 or $0.02 per share for the comparable period a year earlier.
Recently, the Company disposed of its subsidiary ICS UniComp. Revenues from discontinued operations were $8.0 million for the nine months ended November 30, 1999, compared to $7.0 million for the same nine-month period in the previous year. Net income was $601,000, or $0.08 per share compared to net income of $529,000, or $0.07 per share for the comparable period. For the three months ended November 30, 1999, revenues from discontinued operations were $2.7 million compared to $2.6 million for the same three- month period in the previous year. Net income was $173,000, or $0.02 per share, compared to net income of $182,000 or $0.02 per share for the comparable period a year earlier.
Stephen A. Hafer, President and CEO of UniComp, said, "We are pleased with our third consecutive quarter of increased profitability, reflecting our renewed focus on UniComp's growth areas. With Unibol's recent entry into the Linux marketplace, along with our continued investment in our Internet initiative, involving our e-commerce transaction processing software, UniComp is poised for continued enhancement of shareholder value."
About UniComp
UniComp, Inc. is an innovative provider of business solutions and information technology services to small and large businesses located throughout North America, the United Kingdom, Europe and the Asian-Pacific Region.
These business solutions and services include the following:
-- A comprehensive suite of systems management software for IBM
AS/400 users along with two software reengineering products
targeting independent software vendors and users of IBM System/36
and AS/400 systems requiring migration to open architecture
platforms such as Windows NT, Unix and Linux.
-- A complete suite of end-to-end secure electronic payment
solutions for e-commerce and traditional retail merchants. The
company's full suite of e-commerce products and services,
including transaction processing, web development and web
hosting, is now available.
-- A Windows-based human resource planning and management system
with a focus on employee scheduling.
UniComp's client list includes companies such as Coca-Cola, DHL Worldwide Express, Siemens, BMW and Eastman Kodak. Please visit our World Wide Web site at: www.unicomp.com or www.unibol.com.
Safe Harbor Statement Under the Private Securities Reform Act of 1995
Except for the historical information contained herein, the matters discussed in this news release relating to the Company's Internet initiative contains forward looking statements that involve risks and uncertainties, including other risks detailed from time to time in the Company's publicly available reports on file with the Securities and Exchange Commission.
FINANCIAL SUMMARY OF
CONTINUING OPERATIONS
Third Quarter Ended Nine Months Ended
------------------------ ------------------------
November 30, November 30, November 30, November 30,
1999 1998 1999 1998
Revenue $ 7,464 $ 5,989 $ 20,860 $ 15,537
Pre-Tax Income $ 229 $ 156 $ 347 ($ 706)
Tax Provision ($ 200) ($ 20) ($ 440) ($ 191)
-------- -------- -------- --------
Net Income From
Continuing
Operations $ 429 $ 176 $ 787 ($ 515)
======== ======== ======== ========
Basic Earnings
Per Share
From
Continuing
Operations $ 0.06 $ 0.02 $ 0.11 ($ 0.07)
======== ======== ======== ========
Diluted Earnings
Per Share
From
Continuing
Operations $ 0.05 $ 0.02 $ 0.09 ($ 0.06)
======== ======== ======== ========
Weighted Average
Number of
Shares 7,456 7,837 7,485 7,892
Weighted Average
Number of
Shares Assuming
Dilution 8,837 8,373 8,940 8,428
FINANCIAL SUMMARY OF
DISCONTINUED OPERATIONS
Third Quarter Ended Nine Months Ended
------------------------ ------------------------
November 30, November 30, November 30, November 30,
1999 1998 1999 1998
Revenue $2,722 $2,575 $7,979 $7,030
Pre-Tax Income $ 253 $ 243 $ 921 $ 720
Tax Provision $ 80 $ 61 $ 320 $ 191
-------- -------- -------- --------
Net Income From
Discontinued
Operations $ 173 $ 182 $ 601 $ 529
======== ======== ======== ========
Basic Earnings
Per Share
From Discontinued
Operations $ 0.02 $ 0.02 $ 0.08 $ 0.07
======== ======== ======== ========
Diluted Earnings
Per Share
From Discontinued
Operations $ 0.02 $ 0.02 $ 0.07 $ 0.06
======== ======== ======== ========
Weighted Average
Number Of
Shares 7,456 7,837 7,485 7,892
Weighted Average
Number Of
Shares Assuming
Dilution 8,837 8,373 8,940 8,428
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