Thanks, John. I'm still positive about long term prospects and, I suppose with reported loss of .12 vs. (3) analysts expectations of -.02 it could have been worse. Interesting comments about the need to replace old with new technology to keep sales going:
DALLAS, Oct. 22 /PRNewswire/ -- Voice Control Systems, Inc. (Nasdaq: VCSI)today announced revenues of approximately $2.0 million for the third quarter of fiscal year 1997, which ended September 30, 1997, compared to revenues of$4.1 million for the same quarter a year ago.
The company realized a loss of$1.3 million or twelve cents per share compared to a profit of $239,000 or two cents per share for the same period a year ago.
For the nine month period, revenues were $10.3 million, down 5% from $10.9 million for the same period a year ago. The company posted a loss for the nine month period of $449,000, or four cents per share compared to a loss of $644,000 or six cents per share for the same period a year ago.
Commenting on third quarter performance, Peter Foster, president and CEO of Voice Control Systems said, "We are certainly disappointed with our performance during the quarter, but we are optimistic about the future of our speech recognition products."
During the third quarter, the company experienced a significant decrease in sales of its older generation speech recognition hardware products. This has not yet been replaced by volume deployments of customer applications using VCS software designed for open architecture platforms.
Mr. Foster continued, "Certain applications for speech recognition, such as voice-activated dialing, have matured and new high volume applications, such as voice-activated voice mail, have taken longer than expected to be deployed. With announcements during the quarter by Unisys and Centigram, we believe that voice-activated voice mail deployments are soon to begin. VCS has begun a series of whole product application initiatives such as VCS's ReadyReceptionist(TM) auto attendant. The company believes that these speech
recognition applications will generate significant volume in the future."
Voice Control Systems is a leading speech software platform provider,
offering vocabularies in over 50 languages with more than 2.5 million
recognizers, including 500,000 in telecom, installed in 30 countries. Speech-driven applications using VCS products are used today in telecommunications, automotive, consumer electronics, and interactive multimedia software to enable computers and electronic devices to understand and process human speech. VCS is headquartered in Dallas, Texas, with regional offices in Cambridge, Massachusetts, and Portsmouth, England. The company's stock is traded on the Nasdaq National Market System under the symbol VCSI. For more information visit the company's web site at voicecontrol.com . |
