ATTENTION ATEC FOLLOWERS:
Earnings for the 1st qtr will be released this week. ATEC also plans to announce sometime soon a press release concerning their new Digital Arts subsidary. Also management will not be available on Wed. because they were asked to meet with Kennedy Capital in St.Louis. FYI Kennedy Capital manages over 1 billion dollars in small and micro cap stocks. They are considered one of the biggest institutional players in the small and micro cap market. Let us hope things go well. The fact that big insts. are taking notice of ATEC is exciting.
Let me recap some vital statistics on ATEC:
1997 Revenue were $100,841,362 up 23% from $81,812,045 for the prior year.
ATEC'S net income for 1997 was $1,667,898 a 99% increase over $838,346 reported for fiscal 1996.
Atec reported record 4th qtr. results as well. Net income increased 102% from one year to the next.
ATEC's EPS doubled in 1997 to .06 from .03 a 100% increase.
Atec enjoys a high degree of repeat business and long contract life cycles, leading to recurring revenues and greater predictability. The company's core business market is growing rapidly. By 1998, the domestic market is expected to grow to $35.6 billion. In 1997 alone, US. spending is expected to approach $28 billion for corporate and personal integration solutions.
ATEC has announced a service contract with New York State worth up to $10 million dollars.
ATEC announced the formation of ATEC DIGITAL ARTS Inc. to further diversify their expertise in the high-tech arena.
ATEC has established a Y2K solution program for existing and new customers. The Y2K market in NY. state alone is projected to be over a Billion dollars, encompassing both private and government sectors. The existing client base of ATEC includes noteworthy names such as:
Citicorp, Chase Manhattan Bank, North Shore University Hospital, Bank of Nova Scotia, US. Dept. of Justice, US. Marshal Service, Westinghouse and Harvard University Medical School to name just a few.
Mike Irving |
