Top Image Systems Announces Significantly Improved Earnings in the Third Quarter, 2001
Profit from 3rd Quarter Core Operations Increases 35% Compared with 2nd Quarter 2001
TEL AVIV, Israel, Nov. 13 /PRNewswire/ -- Top Image Systems, Ltd. (Nasdaq: TISA -
news), a leader in enterprise solutions for managing and validating content entering
organizations, today announced improved performance for the third quarter ended
September 30, 2001. The company reported net income of $77,383 in the third quarter after
eight consecutive quarters of losses. The company generated a profit of $374,000 in the third
quarter on TiS core operations, before deducting costs for its e-Mobilis subsidiary and the
ASP initiative.
For the third quarter of 2001, revenues increased 9 percent to $3.32 million compared with
$3.04 million in the third quarter of 2000. Revenues in the third quarter of 2001 increased
5% compared with the second quarter of 2001, continuing the quarter-over-quarter revenue
increase since the beginning of the year. Net income in the third quarter was $77,383
compared with a net loss of $1,363,123 in the same period of 2000 and a net loss of
$139,481 in the second quarter of 2001. Income per share was $0.013 compared with a
loss per share of $0.216 in the same period of 2000 and a net loss per share of $0.023 in the
second quarter of 2001.
Speaking of heads up!
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