nest...oldie...but back in biz around 1.55:
(COMTEX) B: NESTOR INC - First Quarter Results
B: NESTOR INC - First Quarter Results
New York, New York, May 15, 2001 (Market News Publishing via COMTEX) -- Nestor,
Inc., a leading provider of intelligent software applications, reported revenues
of $1,705,000 for the quarter ended March 31, 2001, a 42% increase compared to
revenues of $1,199,000 in 2000. The Company reported income before affiliate
loss of $899,000 for the first quarter of 2001 as compared to a loss of
($347,000) in 2000. The Company reported a net income after affiliate loss for
the quarter ended March 31, 2001 of $818,000, $0.05 per share, as compared to a
net loss of ($738,000), ($0.04) per share, for the quarter ended March 31, 2000.
Consolidated revenues for the first quarter increased primarily as a result of a
source code license agreement for the Company's PRISM(R) family of fraud
detection solutions to an alliance partner, Applied Communications, Inc. (ACI),
for a total of $1,104,000. Under the terms of the agreement, effective February
1, 2001, ACI assumed 13 Nestor employees, and related operating expenses, and
will pay recurring royalties to Nestor on PRISM contracts. Accordingly,
operating expenses for the quarter decreased 49% to $771,000 as compared to
$1,523,000 for the first quarter of 2000. Another factor contributing to the
decrease in operating expenses included a decrease in legal expenses resulting
from the settlement of the Nestor vs. HNC lawsuit in January 2001.
The ACI license transferred approximately 50% of NestorCommerce staff to ACI and
eliminated the Company's ongoing obligations to support, develop, install, and
model products licensed to ACI customers under the prior license. As a result,
the prior license fees charged at 40% of license revenue realized will be
replaced by a 15% royalty going forward. In addition, ACI will retain
engineering revenue associated with their PRISM customers. The Company continues
to review opportunities to maximize the potential returns from the
NestorCommerce division while transitioning to a focus on the intelligent
traffic management industry.
"Expanding our relationship with ACI has not only helped us to strengthen our
bottom line but also allowed management to accelerate development and future
successes in our traffic management endeavors," said David Fox, Nestor's
president and CEO. "Over the past several months, we have seen Nestor's momentum
shifting from its traditional emphasis on efforts in financial services to a
leadership position in the emerging traffic management and safety markets
through Nestor Traffic Systems, Inc. (NTS), its 35%-owned affiliate. NTS has
been making great strides in establishing its advanced video-based technology as
the next generation solution for automated red light enforcement."
In January 2001, NTS secured an $8 million equity investment commitment from an
independent investment group. The equity investment is subject to completion of
a proposed merger between Nestor and NTS. The merger is subject to certain
conditions including a fairness opinion of the transaction by a qualified
investment company and approval by the shareholders of Nestor and NTS.
Management expects to have the Form S-4 and Proxy filed for review with the SEC
in May and shareholder votes on the merger this summer.
Certain information in this press release may include forward-looking statements
within the meaning of Section 21E of the Securities Exchange Act of 1934.
Although the Company believes that the expectations are based upon reasonable
assumptions, it can give no assurance that its expectations will be achieved.
PRISM is a registered trademark of Nestor, Inc. All other company and product
names are trademarks or registered trademarks of their respective companies.
NESTOR, INC.
CONSOLIDATED STATEMENT OF EARNINGS
(Unaudited)
(In Thousands, except for per share amounts)
Three Months Ended
3/31/01 3/31/00
Revenues $ 1,705 $ 1,199
Income (Loss) before
Affiliate Loss $ 899 $ (347)
Net Income (Loss) $ 818 $ (738)
Net Income (Loss) Per Share,
Basic and Diluted $ 0.05 $ (0.04)
Basic Shares Outstanding 17,924 17,863
Diluted Shares Outstanding 18,097 17,863
CONTACT: TEL: (401) 331-9640 Nigel Hebborn, Nestor, Inc.
E-MAIL: hebborn@nestor.com
MarketbyFax(tm) - To get the NEWS as it happens, call (604) 689-3041.
(C) 2001 Market News Publishing Inc.
-0-
KEYWORD: New York, New York
*** end of story ***
(COMTEX) B: Retail Decisions Announces $1.8 Million License Agreement
B: Retail Decisions Announces $1.8 Million License Agreement With Nestor --
Separate Assignment Agreement Worth $1 Million Also Signed
HAZLET, N.J., May 21, 2001 (BUSINESS WIRE) -- Retail Decisions plc (LSE: RTD),
an international supplier of payment card risk management services, announced
today that it has entered into a US$1.8 million license agreement with Nestor,
Inc., (OTC:NEST), a leading US provider of intelligent software applications in
the area of risk management. Under the terms of the agreement, Retail Decisions
will obtain the technology rights, certain customers and contracts of
NestorCommerce, a trading division of Nestor, Inc. (OTC:NEST). In addition,
Retail Decisions has entered into a separate agreement with Nestor to manage the
transfer of existing direct customer support and marketing initiatives of
NestorCommerce in consideration of payments totaling US$968,000 from Nestor.
NestorCommerce is a leading provider of innovative risk management solutions for
the financial services and e-commerce industries. In particular,
NestorCommerce's PRISM (R) solutions help to counter fraudulent practices in all
types of financial transactions. The PRISM (R) product line has achieved
considerable success since its launch over 10 years ago. It has been extensively
marketed through a network of resellers and is now used by more than 40
financial institutions across five continents. The PRISM (R) model operates on a
per-transaction, per-account or fixed fee basis, depending on the PRISM (R)
solution selected by each client.
The PRISM (R) product line, which employs both predictive neural and rules-based
technology, was originally developed by a Nobel Prize-winning scientist and is
designed to keep pace with the ever-changing patterns of behavior in the area of
payment card fraud. Customers using this extremely powerful product line can
therefore be more effectively protected against all types of fraudulent activity
that ultimately affects their profitability. This capability can also be used to
predict and pre-empt other situations such as money-laundering and bankruptcy.
The licensing agreement with Nestor, Inc. is expected to benefit Retail
Decisions in a number of ways. In particular, the technology being acquired will
considerably add to and complement Retail Decisions' own risk management
capabilities, allowing Retail Decisions to offer a more extensive and powerful
fraud detection and prevention service to both existing and new customers, in
all types of transactions. Second, Retail Decisions will immediately benefit
from a new stream of revenue from the NestorCommerce client base. Third, the
assumption by Retail Decisions of NestorCommerce's client base will provide
immediate and low-cost access to several new risk management markets, including
Japan, Canada and Latin America. Finally, Retail Decisions will be able to add
to its stable of existing customers a new base of global financial institutions
that are currently served by NestorCommerce.
Carl Clump, Chief Executive of Retail Decisions, said today:
"By obtaining the rights to Nestor's highly acclaimed technology and product
line, we are raising our game significantly. The combination of our risk
management capability with Nestor's neural product should prove irresistible to
customers looking to protect themselves against increasingly sophisticated
methods of fraud. We were already a global business - but with the new customers
to whom we now have access, that global footprint has become more extensive."
Nigel Hebborn, Executive Vice President and CFO of Nestor Inc, added:
"We were looking for an organization with the necessary infrastructure and
financial muscle to take our offering forward. They also needed to have a proven
capability in the area of risk management. Retail Decisions meets all of our
criteria and we are delighted to have reached this agreement with them."
About NestorCommerce
NestorCommerce is a trading division of Nestor, Inc. (OTC Bulletin Board: NEST).
Founded in 1983 and headquartered in Providence, R.I., Nestor, Inc. is a leading
provider of innovative, neural network solutions for data-intensive,
mission-critical decision applications. Nestor's intelligent software
applications include risk-management, customer management and e-commerce
database marketing software. Nestor Traffic Systems Inc, a 35% owned Nestor
affiliate, offers a suite of tools for real-time traffic management.
Incorporating patented pattern recognition technologies in real-time
applications, Nestor provides solutions that address the mission-critical issues
and needs of its target vertical markets: financial services, e-commerce, and
traffic management. Nestor products are sold direct and by strategic partners
worldwide. For more information, call 401-331-9640 or visit www.nestor.com.
PRISM is now a registered trademark of Retail Decisions. All other company and
product names are trademarks or registered trademarks of their respective
companies.
About Retail Decisions
Retail Decisions (ReD) is a card-based transactions services business that
provides fraud prevention to the finance, telecommunications, retail and
e-commerce sectors. Using risk management and analysis tools, ReD is able to
predict and prevent payment card fraud; this infrastructure also provides a
platform for a full range of card-based services. The company was formed in
January 2000 by the de-merger of Card Clear UK and Transaction Billing Resources
(TBR) from the Card Clear Group.
Retail Decisions collates and distributes the UK's most comprehensive "Hot Card
File" of lost and stolen cards, which is continually updated and is available to
retailers 24 hours a day, every day of the year. The company currently protects
nearly 10,000 retail sites in the UK, principally in high payment volume
sectors. In 2000, Retail Decisions checked approximately 1.25 billion UK card
purchases and prevented an estimated (pound)79m card fraud.
Retail Decisions has more than ten years' experience in credit card risk
management and payment settlement services to the telecoms sector in the US, and
currently supplies its services to over 45 telecoms companies. Retail Decisions
also now has an e-commerce service based on this Card-not-present knowledge and
expertise.
CONTACT: Retail Decisions plc
Carl Clump, Chief Executive
+ 44 (0)1483 728700
OR
Nestor, Inc.
Nigel Hebborn, Chief Financial Officer
+ 1 401 331 9640
OR
CBK Group
Carol Romeo
(973) 835-0854, (973) 865-2933
carol@cbkgroup.com
URL: businesswire.com
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
Copyright (C) 2001 Business Wire. All rights reserved.
-0-
KEYWORD: NEW JERSEY
INDUSTRY KEYWORD: BANKING
COMPUTERS/ELECTRONICS
E-COMMERCE
INTERNET
MARKETING
AGREEMENTS
*** end of story ***
(BSNS WIRE) Nestor Traffic Systems and GeoFocus to Install Rail Crossing Wa
Nestor Traffic Systems and GeoFocus to Install Rail Crossing Warning System in
Florida; NTS and GeoFocus to Demonstrate AWARE: Advanced Warning Alerts for
Railroad Engineers
Business/Technology Editors
PROVIDENCE, R.I.--(BUSINESS WIRE)--June 4, 2001--Nestor Traffic
Systems, Inc. (NTS) today announced that the Company has been awarded
a contract by the Florida Department of Transportation (FDOT) to
install and demonstrate a grade crossing warning system at two
Tri-Rail crossings in South Florida. The AWARE (Advanced Warning
Alerts for Railroad Engineers) system combines NTS' Rail
CrossingGuard(R) video-based crossing monitoring technology with
GeoFocus, Inc.'s TrainTrac(R) communications-based train location and
information system to provide grade crossing status information and
alerts to approaching locomotives.
Each AWARE crossing will be equipped with Rail CrossingGuard video
monitoring for automated detection of vehicles, trains, and traffic
control devices, an AWARE controller, and spread spectrum radio
communications. Rail CrossingGuard's ability to detect vehicles on the
tracks will allow the system to trigger an alert from the crossing to
warn an on-coming AWARE-equipped train of imminent danger. Each
AWARE-equipped train will have Mobile Information Terminals (MITs) to
display crossing status messages and alerts, a GPS-based train
location device, and a two-way spread spectrum wireless radio for
communication between the train and the trackside computer.
"A system with the ability to warn an on-coming train of trouble
ahead is a technological breakthrough in grade crossing safety," said
Michael Dowell, FDOT's Rail Corridor Programs Engineer. "These AWARE
installations could prove to be the pivotal solution in averting
potentially life-threatening crashes. We are excited to be at the
forefront of this venture as an integral part of proving the
capabilities of this innovative technology in a highly urbanized
environment."
The goal of this multi-phased project is to test and evaluate the
technologies employed. Field demonstrations will involve multiple
aspects of the AWARE system, including automatic detection of crossing
obstructions and other hazardous crossing conditions, real-time,
two-way communication between the crossing and approaching trains,
on-train devices for the display of crossing status and alert
information, and live transmission of grade crossing video to remote
rail and traffic operations centers. These trials will involve both
simulated and real crossing hazards. The final stage of the project
will involve a full demonstration of system functionality at two
crossings and on-board two Tri-Rail trains. This deployment will be
the first of its kind to showcase such advanced grade crossing safety
features. Widespread adoption of this Intelligent Transportation
System (ITS) application would represent a milestone in the use of
advanced technology to help reduce the number and frequency of crashes
and improve overall grade crossing safety.
"Integrating Rail CrossingGuard's video detection capabilities
with our GPS-based train locator and communications is a natural
extension of both product offerings - with considerable safety
benefits and tremendous market potential," said Gary Muter, GeoFocus'
General Manager. "The AWARE system represents a significant
initiative, combining two complementary technologies to deliver a
unique solution for grade crossing safety."
This contract is an extension of an existing contract with FDOT
where NTS is providing video monitoring equipment and services at five
crossings along the South Florida Rail Corridor. This installation is
part of the first phase of FDOT's innovative statewide program to
demonstrate new technologies to improve highway railroad grade
crossing safety.
About Nestor Traffic Systems
Nestor Traffic Systems, Inc., an affiliate of Nestor, Inc. (OTC:
NEST) and headquartered in Providence, RI, is an emerging leader in
providing innovative, video-based monitoring systems and services for
traffic management and safety. Its products incorporate advanced video
processing technology into intelligent, real-time solutions that
promote traffic efficiency, intersection safety, and highway- rail
grade crossing monitoring. All products are sold direct and by
selected partners worldwide. For more information, call 401-331-9640
or visit www.nestor.com/nts.
CrossingGuard is a registered trademark of Nestor Traffic Systems,
Inc. TrainTrac is a registered trademark of GeoFocus, Inc. All other
company and product names are trademarks or registered trademarks of
their respective companies.
--30--af/bos*
CONTACT: Nestor Traffic Systems, Inc.
Carolyn Beaudry
(401) 331-9640
crb@nestor.com
KEYWORD: RHODE ISLAND
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS
ELECTRONIC GAMES/MULTIMEDIA TRANSPORTATION TRAVEL AUTOMOTIVE
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
URL: businesswire.com
*** end of story *** |
