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Microcap & Penny Stocks : Teletek: Big Earnings About To Be Posted
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To: Kunal Singh who wrote (19)1/23/1996 5:21:00 PM
From: David Bleich   of 1014
 
Kunal:

No dilution of shares. The officers will wait till the stock price is up before issuing themselves a stock option. This way they are in a better position if a takeover occurs. The company took ~ $1 million charge for setting up the switch, exactly as you have guessed.

Full press release for TELETEK as follows

January 23, 1996

FOR IMMEDIATE RELEASE

TELETEK INC. NASDAQ (TLTK)

Teletek Inc. announced today the consolidated results of its operations for the second fiscal quarter ended December 31, 1995. Teletek reports gross revenue of approximately $9.8 million, which is an increase of 148% over the previous quarter and an increase of 788% over the same period last year. Net income for the second quarter was approximately $568,000 which is a $1,150,000 improvement from a loss of ($582,000) from the same period last year and an increase of $133,000 or 30%, from the previous quarter. Earnings per share was $.07, a $.22 increase from a loss of ($.15) per share for the smae period last year and an increase of $.01 or 16% over the previous quarter.

Management currently anticipates third quarter gross revenue of approximately $12 million with estimated net income of $900,000 or about $.09 per share.
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