Ptek Holdings (NASDAQ: PTEK.Q) (www.ptek.com) today reported that
its revenue from continuing operations for the second quarter of 2002
was $87.4 million, compared to $84.1 million in the second quarter of
2001.
Earnings per share from continuing operations were $.05 in the
second quarter of 2002 (including a $.04 charge per share to settle
the shareholder class action lawsuit) as compared to a ($.38) per
share loss from continuing operations in the second quarter of 2001
(exclusive of goodwill amortization). Adjusted EBITDA from continuing
operations (defined as operating income or loss before depreciation,
amortization, restructuring costs, equity based compensation, and
legal settlements) for the second quarter of 2002 was $19.5 million
compared to $16.6 million for the second quarter of 2001. Cash
earnings from continuing operations (defined as net income or loss
from continuing operations before income taxes plus amortization,
restructuring costs, equity based compensation, legal settlements, and
asset impairment and obligations-investments, less gain on sale of
marketable securities, tax effected) for the second quarter of 2002
were $.12 per share compared to $.10 per share for the second quarter
of 2001.
Ptek's accomplishments in Q2 include:
-- Continued to improve bottom line performance recording $.05
EPS from continuing operations.
-- Generated 4.9% sequential overall revenue growth, and 4.8%
sequential revenue growth at Xpedite.
-- Continued to introduce new services and upgrades--PremiereCall
Auditorium auto-event conferencing service, messageREACH(SM)
2.0 with new e-mail management features, and intellisend(SM)
Service Provider enabling transparent integration with
Microsoft(R) Outlook(R).
-- Added over $12 million in cash and marketable securities to
the balance sheet.
-- Increased the number of shares held by institutions to 29% of
total shares outstanding at the end of the second quarter,
compared to 20% in the second quarter of 2001.
"Our focus on delivering leading services to the conferencing and
multimedia messaging markets has continued to generate solid financial
results," said Boland T. Jones, Founder, Chairman and CEO of Ptek
Holdings. "Our commitment to top line revenue growth and improved
bottom line performance has helped our company realize gains, even
when general market conditions remain very challenging. The Ptek
associates around the world continue to earn the trust and respect
from our blue chip roster of clients for the superior communications
services they deliver." |
