(COMTEX) B: Perceptronics Announces Fiscal Year 2001 Second Quarter R
B: Perceptronics Announces Fiscal Year 2001 Second Quarter Results
BEVERLY HILLS, Calif., Nov 16, 2000 /PRNewswire via COMTEX/ -- Perceptronics,
Inc. (OTC Bulletin Board: PCTR) today announced financial results for the second
quarter ended September 30, 2000 and first six months of fiscal year 2001.
Perceptronics reported a profit for the second quarter of $16,886, or $0.00 per
share, on revenues of $76,437. In the previous fiscal year, Perceptronics
reported a loss for the third quarter of $247, 658, or $0.04 per share, on
revenues of $303,419. Financial statements for the second quarter of fiscal year
2001 included a gain of $154,981 on the previously reported sale of the
Company's PGTS assets and military simulator operation.
For the six months ended September 30, 2000, the Company reported loss of
$303,939, or $0.04 per share, on revenues of $76,437, compared to a loss of
$411,481, or $0.07 per share, on revenues of $685,829 a year earlier. Financial
statements for the first six months of fiscal year 2001 included a gain of
$154,981 on the sale of the Company's PGTS assets and military simulator
operation.
The Company also noted that it received additional equity funding during the
period July 2000 through September 2000.
Richard Moskowitz, Perceptronics' CEO, said, "The second quarter and following
few weeks included a number of highly positive events for Perceptronics. Our
divestiture of the PGTS operation cleared the way for a full focus on our IC3D
business. We are now 'nothing but net,' and happy to be so."
"Our recent move to Beverly Hills has improved our working environment and
brought us closer to our local customers and partners. And, most important, our
initial sale of a IC3D/Wyth license to the prestigious DNA Studio for a
multi-player game application has validated our business strategy and pointed
the way to many future opportunities, such as the recently announced OZ
Entertainment Company connection."
Moskowitz continued, "Perceptronics' IC3D(TM) Framework is at the intersection
of today's three biggest trends for Internet growth: peer-to-peer computing,
collaborative interaction and streaming media. We are confident our customers
and the financial community will recognize the benefits that the IC3D Framework
and IC3D/Wyth software can bring immediately to thousands of online
applications."
Perceptronics' business is to develop, produce and market software products and
services that allow Web site developers and owners to create online
collaborative experiences that meet the growing demand for expanded multi-user
interactivity on the Internet. A description of the Company's IC3D Technology is
found at ic3d.perceptronics.com, and online demos are available by
special appointment. For additional information, please contact the Company.
Safe Harbor Statement:
Statements by Richard Moskowitz, as well as the above statements regarding the
Company's expectations about growth and marketing strategies, new and existing
products, and future financial performance are Forward Looking Statements that
are subject to a number of risks and uncertainties. These risks and
uncertainties include, without limitation: (1) technological factors affecting
the development and commercial fielding of the IC3D Framework; (2) competitive
factors in the Internet industry, including the ability of the Company to
compete against larger, well-funded companies; (3) cash flow factors affecting
the Company's operations; (4) the ability of the Company to obtain required
financing, that would affect further development and marketing of the IC3D
Framework; and (5) competitive factors and contracting contingencies in the
defense simulation industry and in particular in the international defense
business. These and other risks and uncertainties are discussed in greater
detail from time to time in the Company's SEC filings and reports.
SOURCE Perceptronics, Inc.
CONTACT: Dr. Gershon Weltman of Perceptronics, Inc., 310-229-9882, or
fax, 310-552-4765, ic3d@perceptronics.com
URL: ic3d.perceptronics.com
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(C) 2000 PR Newswire. All rights reserved.
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KEYWORD: California
INDUSTRY KEYWORD: CPR
SUBJECT CODE: ERN
OTC
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