This thread has really died. Does anyone know what is going on? The stock has been acting very strong.
Aug 6 close $8.85
Thu 7 Aug 97 News Release
Mr Alan Hutton reports
Star Data's revenues increased in fiscal 1997 by 51% to $67.7 million,
compared to $44.8 million in fiscal 1996. Fiscal 1997 revenues include a
full year of the results of Baycom, acquired in November 1995. Cash flow
from operations for 1997 was $18.3 million, compared to $12.2 million in
1996, and net income increased to $7.3 million from $5.0 million in the
previous year.
Basic income per share of $0.47 in fiscal 1997 compares to $0.38 in 1996.
Cash flow per share was $1.18 in fiscal 1997 compared to $0.91 in 1996.
For the three months ended May 31 1997, revenues were $18.9 million,
compared to $14.3 million in the corresponding 1996 period. This represents
quarter-over-quarter revenue growth of 32%. Cash flow from operations was
$5.3 million or $0.33 per share, compared to $4.1 million or $0.26 per
share in the 1996 period. Net income for the quarter was $1.9 million
compared to $1.7 million a year previous, and per share income was $0.12,
compared to $0.11 in 1996.
The company has been able to improve its operating margins and, despite
higher asset amortization, net income has increased by 45% to $7.3 million.
The company has a strong cash flow, over $18 million in fiscal 1997. With
projected cash flow growth next year, cash on hand at year end of more than
$7 million and available lines of credit, Star Data has ample cash
resources available to satisfy re-investment in product development and
technology, and to finance complementary acquisitions.
The number of customer accounts grew by 12.5% during the year, and all
major contracts due to expire during the year were successfully renewed.
FINANCIAL HIGHLIGHTS
Three months ended May 31
($ 000's)
1997 1996
Revenue
Information services $ 9,257 $ 8,021
Transaction processing
services 9,679 6,261
------- -------
Total revenue 18,936 14,282
------- -------
Cash flow 5,337 4,107
------- -------
Net income $ 1,882 $ 1,668
======= =======
Cash flow per share $0.33 $0.26
Income per share $0.12 $0.11
FINANCIAL HIGHLIGHTS
Twelve months ended May 31
($ 000's)
1997 1996
Revenue
Information services $35,493 $30,135
Transaction processing
services 32,192 14,642
------- -------
Total revenue 67,685 44,777
------- -------
Cash flow 18,318 12,209
------- -------
Net income $ 7,314 $ 5,059
======= =======
Cash flow per share $1.18 $0.91
Income per share $0.47 $0.38 |
