Lightbridge, Inc. Reports Third Quarter Results
BURLINGTON, Mass.--(BUSINESS WIRE)-Oct. 28, 1997--Lightbridge, Inc. (NASDAQ:LTBG), a leading provider of
customer acquisition and retention solutions for the global telecommunications industry, today reported financial results for the
third quarter ended September 30, 1997. Revenues for the third quarter of 1997 were $9.5 million, compared to $7.4 million
for the third quarter of 1996. Net income for the quarter was $927 thousand or $0.06 per share, compared with $354
thousand or $0.03 per share on a pro forma basis for the quarter ended September 30, 1996. The weighted average number
of common and common equivalent shares outstanding for the third quarter of 1997 was 16.6 million compared to 13.9 million
in the third quarter of 1996.
Revenues for the nine months ended September 30, 1997 were $27.3 million, an increase of 32% from the prior year's $20.6
million. Net income for the nine months ended September 30, 1997 was $3.6 million or $0.22 per share compared with net
earnings of $656 thousand or $0.05 per share on a pro forma basis in the first nine months of 1996.
Pamela D. A. Reeve, Lightbridge's president and chief executive officer, commented, ''This was a very solid quarter for
Lightbridge and we are pleased with the performance of the company on all fronts. We added several new clients, expanded
Lightbridge's product offerings with the introduction of new releases and services and continued to build the infrastructure in
preparation for a seasonally strong retail fourth quarter.''
During the quarter, Lightbridge announced its intention to acquire Coral Systems, a Colorado-based provider of fraud and
churn software to the telecommunications industry. This acquisition is expected to close during the fourth quarter. In addition,
Lightbridge also announced new contracts with UniqueAir Limited, Ameritech Communications Inc. and Iridium LLC. The
Company also announced a new marketing alliance with Versatility Inc. to provide world-class call center solutions to
telecommunications carriers. Lightbridge introduced the Fraud Detect Model, new fraud scoring technology for the
telecommunications industry, in partnership with Trans Union Corporation. The Company also launched its new release of
Churn Prophet 2.0, a churn analysis tool.
About Lightbridge
Lightbridge, Inc. (NASDAQ:LTBG), based in Burlington, Mass., is a leading provider of software-based services that help
global telecommunications carriers quickly acquire customers and retain them over time. Lightbridge has leveraged its credit
processing expertise into solutions that help carriers quickly and cost-effectively provide bundled services through new
channels. Telesto, Lightbridge's network of integrated customer acquisition and retention solutions, provides best-in-class
credit, fraud, churn, channel and market performance solutions to such clients as AT&T Wireless, BellSouth Mobility DCS,
Omnipoint Communications, PrimeCo Personal Communications and Sprint PCS. It is the only complete, workflow-enhanced
system for customer interaction in the converged telecommunications marketplace. Additional information on the company can
be found on the Web at lightbridge.com |
