TVCP filed their 1st quarter 10-Q on 5/7/02. Sales increased 92% and
gross margin was 27.6% compared to 19.5% for 2001.
TALK VISUAL CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited)
THREE MONTHS ENDED MARCH 31,
----------------------------
2002 2001
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REVENUE
Telecommunication sales and services $1,877,471 $ 976,222
COSTS OF SALES AND SERVICES 1,358,872 785,424
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GROSS PROFIT 518,599 190,798
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COSTS AND EXPENSES
Selling, general and administrative 902,977 1,058,022
Depreciation and amortization 93,438 95,567
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Total costs and expenses 996,415 1,153,589
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INCOME (LOSS) FROM OPERATIONS (477,816) (962,791)
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OTHER INCOME (EXPENSE)
Interest expense, net (11,251) (8,068)
Gain on disposal of property and equipment 7,321 -
Foreign currency translation gain - 10,388
Write down of equity securities - (51,000)
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(3,930) (48,680)
INCOME (LOSS) FROM CONTINUING OPERATIONS (481,746) (1,011,471)
INCOME (LOSS) FROM DISCONTINUED OPERATIONS 69,943 23,338
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NET INCOME (LOSS) $ (411,803) $ (988,133)
========== ==========
NET LOSS PER COMMON SHARE - BASIC AND
DILUTED FROM CONTINUING OPERATIONS(1) $ (0.003) $ (0.012)
DISCONTINUED OPERATIONS 0.000 0.000
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NET LOSS $ (0.003) $ (0.012)
========== ==========
WEIGHTED AVERAGE NUMBER OF COMMON SHARES
OUTSTANDING DURING THE PERIOD 147,705,211 85,044,557
========== ==========
(1) The effect of common stock options and warrants is excluded from diluted
earnings per share as its inclusion would be anti-dilutive for the three month
periods ended March 31, 2002 and 2001. |
