Interactive Telesis Reports Fiscal Year 2000 Results
"Monday October 30, 8:04 am Eastern Time
Press Release
Interactive Telesis Reports Fiscal Year 2000 Results
SAN DIEGO--(BUSINESS WIRE)--Oct. 30, 2000--Interactive Telesis Inc. (OTC BB: TSIS), a leading provider of speech-enabled hosting services, today announced its audited annual financial results for its fiscal year 2000.
For the fiscal year ending July 31, 2000, audited figures showed consolidated revenue increased by 60 percent to $4,832,094 over the previous fiscal year with a consolidated net loss of $132,221 representing a loss per share of approximately 0.00 cents per share.
The Company's reduction in profitability is primarily due to the Company's acquisition of Paragon Voice Systems and the realignment of that subsidiary as a speech technology software application development organization. Interactive Telesis' operating income for fiscal year 2000 was $419,192 before inclusion of Paragon Voice Systems. The annual consolidated net loss reflects the inclusion of the Company's share of losses $303,003 incurred during the period by Paragon Voice Systems and the goodwill amortization of $78,195 associated with the purchase of Paragon. The Company's unconsolidated fiscal year 2000 net income exclusive of Paragon was $248,977.
``Our financial results for our fiscal year 2000 reflect our commitment to position the Company as a premier hosting provider for the emerging speech recognition industry,'' said Don Cameron, chief executive officer of Interactive Telesis. ``We have made a significant strategic re-investment of our cash flow beginning with our acquisition of Paragon Voice Systems this year and the aggressive build-out of our first phase of hosting infrastructure for automated speech recognition (ASR) services.''
``We are likely to 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 new fiscal year,'' Cameron stated. ``We expect to see significant revenue increases resulting from market acceptance for speech recognition technology to commence in this fiscal year and expanding into the future. We believe strongly that this market 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 automated speech recognition (ASR) 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 Excite@Home, Global Crossing, Jambatalk, Lucent, MCI Worldcom, Nike, Sprint, Verizon, Yahoo! and others. Interactive Telesis is headquartered in San Diego. For additional information, visit www.interactivetelesis.com.
Interactive Telesis is a trademark of Interactive Telesis Inc. All other trademarks are properties of their respective owners.
Forward-Looking Statement Disclaimer
Some of the statements made in this press release discuss future events and developments, including our future business strategy and our ability to generate revenue, income and cash flow, and should be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can generally identify these ``forward-looking'' statements by words such as ``expect,'' ``anticipate,'' ``believe,'' ``estimate,'' ``intend,'' ``plan,'' and similar expressions. These statements involve a high degree of risk and uncertainty that exist in the Company's operations and business environment and are subject to change based on various factors that could cause actual Company results, performance, plans, goals and objectives to differ materially from those contemplated or implied in these forward-looking statements. Actual results may be different from anticipated results for a number of reasons, including the Company's new and uncertain business model, uncertainty regarding acceptance of the Company's products and services and the Company's limited operating history.
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Contact:
Interactive Telesis Inc.
Elizabeth Myers, 800/995-5798 (Media Contact)
or
JJ Jeffrey, 888/546-2957 (Investor Contact)"
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