Compare ELE's earnings report (next week) to UBS's
Unique Broadband Systems Inc -
Unique Broadband six-month results
Unique Broadband Systems Inc UBS
Shares issued 65,835,356 1999-12-20 close $3.3
Tuesday Dec 21 1999
Mr. Alex Dolgonos reports
The momentum of the company that began late in the first quarter of fiscal 2000 increased during the second quarter, with earnings for the quarter rising to $806,363 compared with a loss of $772,181 in the first quarter of the year. In the second quarter, sales were $2,358,218, more than double the $836,745 in sales in the first quarter, to bring sales for the first half to $3,174,963 compared with $4,110,445 last year.
Alex Dolgonos, president and chief executive officer, said: "As a result, for the six months ended Nov. 30, 1999, the company achieved a profit of $34,182. While this was lower than the $504,896 earned in the first half of last year, the significantly improved sales and earnings in the second quarter of fiscal 2000 are more indicative of the continuing improvements in the company's operations than the loss that occurred during the first three months of the year."
He said the increase in earnings of the company in the second quarter of the year could be attributed to income directly derived from UBS's design contract with XM Satellite Radio and the introduction of new and important technology and products to the marketplace.
Mr. Dolgonos pointed out: "UBS is heavily involved in research and development projects and sales and income do not always directly correlate. Much of the work that is currently under way will not be reflected in income until the products are manufactured and shipped, but is reflected in a corresponding increase in assets of UBS."
The six month report mailed to shareholders today said that the company continues to tighten controls over selling and administrative expenses, although advertising, promotion and travel costs have increased as a result of the company's pursuit of global markets. It is not expected that these will decrease as the company expands into more and more markets.
"With the signing of our teaming agreement with Hughes Network Systems, we are now poised to capture a significant portion of satellite digital radio business in North America and globally. Management remains confident that there are a wide range of wireless broadband opportunities ahead and UBS intends to take full advantage of those opportunities," Mr. Dolgonos concluded.
INTERIM CONSOLIDATED
STATEMENT OF OPERATIONS
Three months ended Nov. 30
1999 1998
Sales $2,338,218 $3,065,175
Cost of sales 1,060,403 989,362
---------- ----------
1,277,815 2,075,813
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Expense
Research 120,448 594,629
Selling and
administrative 236,747 594,870
Amortization 114,257 159,305
---------- ----------
471,452 1,348,804
---------- ----------
Profit from
operations 806,363 727,009
Other income
(expense) 0 (131,866)
---------- ----------
Profit $806,363 $595,143
========== ==========
Earnings
per share 1 cent 1 cent
INTERIM CONSOLIDATED
STATEMENT OF OPERATIONS
Six months ended Nov. 30
1999 1998
Sales $3,174,963 $4,110,445
Cost of sales 1,352,157 1,380,881
---------- ----------
1,822,806 2,729,564
---------- ----------
Expense
Research 863,118 1,201,836
Selling and
administrative 716,664 1,023,542
Amortization 208,842 223,732
---------- ----------
1,788,624 2,449,110
---------- ----------
Profit from
operations 34,182 280,454
Other income
(expense) 0 224,442
---------- ----------
Profit $34,182 $504,896
========== ==========
Earnings
per share 0 1 cent
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