I own some of this stock also. I just came upon tnis news: Tuesday August 5 6:39 PM EDT
Company Press Release
Source: Gentner Communications Corporation
Gentner Reports 17% Increase in Annual Sales, Fourth Quarter Profitability
SALT LAKE CITY, Aug. 5 /PRNewswire/ -- Gentner Communications Corporation (Nasdaq:GTNR) reported today a 17% increase in fiscal 1997 sales as compared to 1996 (ending June 30). Sales for 1997, were $13.4 million, as compared to $11.5 in 1996. Earnings for fiscal year 1997, showed a loss of $372,898 ($.05 cents/share) compared to a profit of $281,984 ($.04 cents/share) for 1996. The company reported $119,971 ($.02 cents/share) in earnings and as planned, the organization returned to profitability for fourth fiscal quarter. Sales for fourth quarter were $3.53 million as compared to $3.24 last year.
``Our plan for fiscal 1997, called for an intense investment in sales, marketing and facilities to strategically position us for future growth,'' states CEO and President Russell Gentner. ``We had anticipated heavy investment for the first three quarters with a return to profitability by the fourth. Our strategy to focus on our core competencies (Broadcast and Teleconferencing) is taking hold with consistent year-over-year growth. Our core product lines are producing excellent results and we anticipate stronger sales and profitability going forward this new fiscal year. Our restructuring has streamlined our organization and has prompted us to place under consideration any business line that is not integral to our vision going forward. We believe this same strategy will enable us to sustain consistent profitability going forward.''
The company has implemented its fiscal 1998 business plan setting an $850,000 annual earnings goal ($.11 cents/share) and $15.4 million in sales. ``During fiscal 1997, we implemented numerous initiatives, for which we should now see the return,'' says Frances Flood, Vice-President of Sales and Marketing. ``Our implementation of 800.LetsMeet(TM) as a premier teleconferencing service provider is working. Gentner's reputation in this arena is growing as evidenced by a 95% revenue increase over fiscal 1996. We have established our image as the company to use when your teleconferencing call is mission critical and must be executed flawlessly. Along with our teleconferencing services, we are providing teleconferencing product solutions that address an organization's need for high quality audio. Later this year, we will ship our Audio Perfect(TM) product line which addresses this need in corporate boardrooms, long distance learning, telemedicine and a host of other applications. When the quality of the audio must be perfect, organizations have turned to Gentner for the product solution. Now, many companies have recognized us for this strength in our service and are using both. Gentner is well positioned to take advantage of this multi-billion dollar growing market.''
The company has planned $3.6 million in sales for first fiscal quarter of 1998 and netprofit of $150,000 ($.02 cents/share). ``Sales and marketing campaigns are in full swing,'' states Flood. ``With the increased demand for our new Digital Hybrid telephone product line, the GSC 3000 Remote Site Control outpacing our projections and our backlog at record levels, we are on track to achieve our first quarter objectives.''
Condensed Statement of Operations
Three months ended Twelve months ended
6/30/97 6/30/96 6/30/97 6/30/96
Sales $3,533,693 $3,240,493 $13,371,851 $11,469,155
Cost of goods sold 1,652,289 1,890,826 6,874,590 6,279,775
Gross Profit 1,881,404 1,349,667 6,497,261 5,189,380
Operating & other
expenses 1,761,433 1,296,585 6,870,159 4,907,396
Net income (loss) $119,971 $53,082 $(372,898) $281,984
Earnings (loss)
per share $0.02 $0.01 $(0.05) $0.04
Gentner will hold its quarterly investor relations conference call on Wednesday, August 13, at 2:00 p.m. (Mountain Time). To make a reservation to participate in the call, dial 800-289-1879 or 801-974-3700.
To the extent any statement presented herein deals with information that is not historical, such statement is necessarily forward-looking. As such, it is subject to the occurrence of many events outside the Company's control that could cause the Company's results to differ materially from those anticipated. Please see the risk factors contained in the Company's publicly filed documents with the SEC.
SOURCE: Gentner Communications Corporation
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