Thanks the news. Immedially the quarter earning makes the current PE to be 72.7 from 114.3.
Here is the detail from this link:
investor.msn.com
TALX Reports 255% Increase in Second Quarter Earnings
October 23, 1997 07:26 PM
ST. LOUIS--(BUSINESS WIRE)--Oct. 23, 1997--TALX Corporation TALX reported today that second-quarter earnings from continuing operations increased 255% to $444,000 from $125,000 in the comparable fiscal 1997 period.
Earnings per share from continuing operations rose to $0.08 from $0.04, reflecting the effect of the increase in weighted average shares outstanding to 5,523,000 from 3,398,000 the year before. Second-quarter revenues climbed 32% to a record $6,019,000 from $4,551,000.
Earnings from continuing operations for the six months ended September 30, 1997 increased 173% to $727,000 compared with $266,000 for the comparable fiscal 1997 period. Earnings per share from continuing operations rose to $0.13 from $0.08, reflecting the effect of the increase in weighted average shares outstanding to 5,482,000 from 3,395,000 the year before. Revenues for the six months ended September 30, 1997 increased 29% to $11,439,000 from $8,844,000.
Revenues from The Work Number for Everyone(R) for the second quarter of fiscal 1998 increased 181% to $934,000 from $332,000 over the same period of fiscal 1997. Outsourced services revenues for the second quarter increased 36% to $895,000 from $660,000 over the comparable period of fiscal 1997. Revenues from customer premises systems for the second quarter increased 20% to $3,178,000 from $2,643,000 for the same period of fiscal 1997. Maintenance and support revenues increased 10% to $1,012,000 for the second quarter of fiscal 1997 from $916,000 for the comparable period of the prior year.
"We are pleased with this quarter's results, reflecting growth across our major business lines, as well as successful efforts to increase our base of transaction and recurring revenue sources," said William W. Canfield, chairman and chief executive officer of TALX. "In the second quarter of fiscal 1998, our revenue from transaction and recurring revenue sources increased to 47% of total revenues, compared with 42% in the second quarter of fiscal 1997."
The Work Number for Everyone(R), a national service providing automated access for employment and salary verification, continues to experience significant growth. The total number of employment records on the service increased to 10.2 million at September 30, 1997 from 5.1 million at September 30, 1996 and 7.8 million at the end of the prior sequential quarter. This represents a 100% increase over the prior year and a 31% increase over the prior sequential quarter. Total employment records under contract, including those in contract backlog to be added to the database, increased to 14.0 million at September 30, 1997 from 8.1 million at September 30, 1996 and 11.4 million at the end of the prior sequential quarter. This represents a 73% increase over the prior year and a 23% increase over the prior sequential quarter.
TALX Corporation designs and implements interactive web and interactive voice response solutions for self-service transactions, primarily for Fortune 500 and other large organizations. TALX uses computer telephony to integrate technologies such as interactive voice response, facsimile, e-mail, Internet and corporate Intranet. The Company's interactive communications solutions enable an organization's employees, customers, vendors, and business partners to access, input and update information without human assistance. The Company's solutions enhance service levels, improve productivity and reduce costs by enabling users to perform self-service transactions using interactive communications technologies. TALX Corporation is headquartered in St. Louis, Missouri, telephone 314-434-0046. Additional information about TALX may be obtained via the World Wide Web at talx.com .
Statements in this news release expressing the beliefs and expectations of management regarding future performance are forward-looking and involve risks and uncertainties, including, without limitation, the risks detailed in the Company's Form 10-K for the year ended March 31, 1997, and those described in other documents and reports filed from time to time with the Securities and Exchange Commission, press releases and other communications. These include, but are not limited to, the continued and increasing acceptance of The Work Number for Everyone(R), intense competition in the interactive web and interactive voice response industry, dependence on certain strategic marketing alliances, risks associated with technological change, and a lengthy sales cycle. Actual results may differ materially from management expectations.
TALX Corporation and Subsidiaries
Consolidated Balance Sheets
(dollars in thousands)
(unaudited)
Sept. 30, March 31,
1997 1997
--------- ---------
Assets
Current assets:
Cash and cash equivalents $ 1,122 $ 1,684
Short-term investments 3,062 4,117
Trade receivables, net 9,697 8,441
Inventories 1,489 1,378
Prepaid expenses and other
current assets 672 694
Income tax refund receivable 195 195
Deferred tax assets, net 210 511
---------- -------
Total current assets 16,447 17,020
Property and equipment, net 3,243 2,652
Capitalized software development
costs, net of amortization of
$3,683 at March 31, 1997 and
$3,944 at September 30, 1997 3,334 3,102
Net assets of business held for sale 707 707
Deferred tax asset, net 206 372
Other assets 767 219
---------- -------
$ 24,704 $24,072
========== =======
Liabilities and Stockholders' Equity
Current liabilities:
Current installments of
obligations under capital leases $ 18 $ 36
Accounts payable 1,395 1,145
Accrued expenses and other liabilities 1,486 1,472
Progress billings in excess of
work in progress 49 35
Deferred maintenance revenue 547 981
---------- -------
Total current liabilities 3,495 3,669
---------- -------
Commitments and contingencies
Stockholders' equity:
Preferred stock, $.01 par value;
authorized 5,000,000 shares and
no shares issued or outstanding
at March 31 and September 30,
1997 - -
Common stock, $.01 par value;
authorized 30,000,000 shares,
issued and outstanding 5,263,455
shares at March 31, 1997
and 5,289,949 at September 30, 1997 53 53
Additional paid-in capital 23,115 23,036
Accumulated deficit (1,959) (2,686)
---------- -------
Total stockholders' equity 21,209 20,403
---------- -------
$ 24,704 $24,072
TALX Corporation and Subsidiaries
Consolidated Statements of Operations
(dollars in thousands, except per share information)
(unaudited)
Three Six
Months Months
Ended Ended
Sept. 30, Sept. 30,
1997 1996 1997 1996
Revenues:
The $ 934 $ 332 $ 1,711 $ 583
Work
Number
Outsourced 895 660 1,470 990
services
Customer 3,178 2,643 6,252 5,487
premises
systems
Maintenance 1,012 916 2,006 1,784
and
support
Total 6,019 4,551 11,439 8,844
revenues
Cost
of
revenues:
The 416 137 724 248
Work
Number
Outsourced 526 215 819 343
services
Customer 1,512 1,325 3,012 2,772
premises
systems
Maintenance 305 244 613 481
and
support
Total 2,759 1,921 5,168 3,844
cost
of
revenues
Gross 3,260 2,630 6,271 5,000
margin
Operating
expenses:
Selling 1,869 1,509 3,744 2,878
and
marketing
General 756 658 1,522 1,295
and
administrative
Total 2,625 2,167 5,266 4,173
operating
expenses
Operating 635 463 1,005 827
income
Other
income
(expense),
net:
Interest 71 - 150 -
income
Interest -1 -262 -2 -378
expense
Other, - -2 1 -26
net
Total 70 -264 149 -404
other
income
(expense),
net
Earnings
from
continuing
operations
before income
tax expense 705 199 1,154 423
Income 261 74 427 157
tax
expense
Earnings 444 125 727 266
from
continuing
operations
Discontinued
operations:
Loss
from
operation
of
discontinued
operations,
net - - - -164
of
income
taxes
Loss
on
disposal
of
discontinued
operations,
net - - - -350
of
income
taxes
Loss
from
discontinued
operations,
net of income taxes - - - -514
Net $ 444 $ 125 $ 727 $ -248
earnings
(loss)
Net
earnings
(loss)
per
share:
Earnings $0.08 $0.04 $0.13 $ 0.08
from
continuing
operations
Loss - - - -0.15
from
discontinued
operations
Net $0.08 $0.04 $0.13 $-0.07
earnings
(loss) |
