I know you all read the 10Q...... But I felt that the purpose of this thread is to discuss Franklin Telecom the company. So here are some parts thought worthy of looking at
management believes that the D-Mark Channel Bank will continue to be a
leading edge product because of its upgradability and flexibility. Well this aint on the back burner
Three Months Ended September 30, 1997 Compared To Three Months Ended
September 30, 1996
Net Sales. Net sales increased by $35,000, or 17%, from $209,000 in the
three months ended September 30, 1996 to $244,000 in the three months
ended September 30, 1997. The overall increase is due to increased
Internet services revenue, with a reduced demand for wide area network
products. Initial demand for newly introduced hardware products has yet
to be established, in that most sales to date have been to customers for
testing and evaluation purposes. The revenue mix for the three months
ended September 30, 1997 consisted of 69% Internet services revenue and
31% hardware product sales. Net sales up on a completely different product approach IMHO pretty fast turnaround.
Gross profit decreased as a percentage of net sales to 4%
for the three months ended September 30, 1997, from a gross profit of
21% of net sales for the corresponding period of 1996. The gross profit
percentage decrease can be attributed to increased manufacturing
overhead infrastructure expenditures, including increased numbers of
personnel to support an anticipated ramp up of sales activity. In English kids. THEY ARE GROWING. Do you all remember Vic saying he couldn't find a parking space.gggg
Operating expenses increased by $549,000, or 130%,
from $421,000 in the three months ended September 30, 1996 to $970,000
in the three months ended September 30, 1997. The increase is
attributable to increased product development costs for the recently
introduced hardware products, costs in developing the Internet services
infrastructure,increased sales and marketing efforts, and costs in
enhancing the general and administrative infrastructure to support
higher sales volumes. Yeah... these are signs of companies that care less about PR and service
Other Income (Expense). Interest expense increased by $10,000, or 143%,
from $7,000 in the three months ended September 30, 1996 to $17,000 in
the three months ended September 30, 1997, due primarily to an increase
in loans from an officer of the Company and assumed lease debt from
Internet Passport. ( Somebody there believes in Franklins future)
Other income increased by $17,000, or 100%, from $-0-
in the three months ended September 30, 1996 to $17,000 in the three
months ended September 30, 1997, due to various non-operating items.
That's enough for now, any comments PROgressive and CONgress welcome.ggg
seth |
