Tuesday June 13, 8:00 am Eastern Time
Company Press Release
Interactive Telesis Reports Third Fiscal Quarter Results
Third Quarter Revenues Up 58% Over Last Year
SAN DIEGO--(BUSINESS WIRE)--June 13, 2000--Interactive Telesis Inc., (OTCBB:TSIS - news), a leader in specialized interactive voice response (IVR) services and deployment of speech recognition technologies, today announced consolidated financial results for the third fiscal quarter ended April 30, 2000.
Unaudited consolidated revenues for the third fiscal quarter were $1,445,608 with consolidated net income of $39,767. This represents a revenue increase of 58% over the third fiscal quarter of 1999 and a 29% increase in revenue from the company's second fiscal quarter ended January 31, 2000. The company attributes the increased revenues to the continued growth of its Digital Record & Replay services.
The third fiscal quarter consolidated net income reflects the inclusion of the Company's share of losses ($85,792) incurred during the period by Paragon Voice Systems along with the amortization of goodwill ($32,549) associated with the acquisition of Paragon. The unconsolidated net income for third fiscal quarter for Interactive Telesis was $158,108.
For the first nine months of the company's fiscal year ended April 30, 2000, the company has increased consolidated revenue by 94% to $3,759,529, with consolidated net income of $425,484, representing earnings per share of approximately 1.4 cents per share. Interactive Telesis' unaudited and unconsolidated net income for the nine months ended April 30, 2000, prior to inclusion of expenses associated with litigation was $677,100 and after inclusion of the litigation expense was $560,100.
``Our third fiscal quarter results reflect the beginning of our efforts to position the company as a premier hosting facility for the up-and-coming speech recognition industry. As a result of strategic re-investment of our cash flow, the company will likely experience negative earnings for the next few quarters as we aggressively expand our network facilities to support anticipated demand in the latter part of the year,'' said Donald E. Cameron, president and CEO of Interactive Telesis. ``The rapid adoption of speech recognition technology will offer substantial rewards for those companies with the required expertise and infrastructure.''
About Interactive Telesis
Interactive Telesis is a leader in specialized interactive voice response (IVR) services and deployment of speech recognition technologies. Interactive Telesis presents a very compelling offering for companies wishing to leverage the benefits of speech recognition without the high cost of ownership, capital outlay and internal IT staff requirements. Clients include industry leaders such as AT&T, Bell Atlantic, Excite@Home, Global Crossing, GTE, Inacom, MCI Worldcom, Nike, Seagate, Sprint, Yahoo! and others. Interactive Telesis is headquartered in Encinitas, California. For additional information, visit www.interactivetelesis.com.
In January, Interactive Telesis announced the acquisition of Paragon Voice Systems, a leading value-added reseller and developer of computer telephony solutions. Clients include Arthur Andersen, E*TRADE, Hewlett-Packard, Petrolsoft Corporation, UCSD, City of Glendale, County of San Diego and Orange County Transportation Authority, among others. The combined strengths of Interactive Telesis and Paragon provide a turnkey solution for businesses wishing to capitalize on the latest advances in speech technologies.
Note to Editors: Interactive Telesis is a registered trademark of Interactive Telesis. All other trademarks are properties of their respective owners.
This press release contains forward-looking statements that involve risk and uncertainties. These statements include, without limitation, statements relating to the Company's future economic performance, management's opinions about the ability of the Company to compete successfully and other non-historical information. The Company's actual results could differ materially from those discussed herein.
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Contact:
Interactive Telesis Inc.
JJ Jeffrey, 888/546-2957 (Investor Relations)
jjeffrey@interactivetelesis.com
or
Elizabeth Myers, 800/995-5798 (Public Relations)
emyers@interactivetelesis.com |
