Earning announcement excerpt:
WESTBORO, Mass., April 24 /PRNewswire/ -- Proteon, Inc. (Nasdaq: PTON) today reported a small net loss for the first quarter ended March 29, 1997, of $313,000, or $0.02 per share, compared with net income of $141,000, or $0.01 per share for the first quarter of 1996. Net sales for the first quarter of 1997 were $9,125,000 compared with net sales of $14,018,600 for the first quarter of 1996.
Daniel J. Capone, Jr., president and chief executive officer, said, "Our improved operating performance for the quarter as compared to the previous quarter benefited from the increased acceptance of our GlobeTrotter product line. We are excited about our new OpenROUTE Networks subsidiary and its Remote Access routing products. The business strategies announced in January for this subsidiary are designed to enable the company to aggressively pursue the growing market for Internet and corporate Intranet connectivity. We are committed to simplifying connectivity for today's new generation of network users.
"Since the introduction of our GlobeTrotter Remote Access router products six quarters ago, we have experienced an average quarterly order growth rate of greater than 70 percent. This growth rate is nearly double the market growth rate as stated by a number of leading market research firms. Going forward, we will continue to apply our efforts to gain market share and increase revenue. We have made substantial progress toward our goal to restore the company to profitability," added Capone. |
