Calvin, do you believe a positive preearnings warning! And THEN...
Quarterdeck Announces First Quarter Results and Return to Profitability
PR Newswire - January 29, 1998 08:08
QDEK %CPR %MLM %ERN V%PRN P%PRN
--------------------------------------------------------------------------------
Jump to first matched term MARINA DEL REY, Calif., Jan. 29 /PRNewswire/ -- Quarterdeck Corporation
(Nasdaq: QDEK) today announced its operating results for the first quarter of
fiscal 1998 ended December 31, 1997. Quarterdeck reported net revenues of
$20.6 million, compared to $24.4 million reported for the same period in 1996,
and net income of $316,000, or $.01 basic earnings per share, versus $20,000
for the same quarter last year.
Compared to the preceding quarter ended September 30,1997, net income
improved to $316,000 versus a loss of $18.6 million on net revenues that
increased by $5.4 million or 35.3%, and the Company posted a $3.3 million
increase in cash and cash equivalents, to $26.9 million, while also reducing
bank debt by approximately $4 million. Working capital increased $10.9
million to $17.9 million and the company's current ratio improved to 1.8 to 1,
versus 1.2 to 1 reported in the preceding quarter.
For the first quarter of fiscal 1998, research and development expenses of
$4.7 million represented a 14% increase over the first quarter prior year and
sales and marketing expenses of $8.4 million reflected an 8% increase,
mirroring the Company's ongoing investment in launching new strategic
products. However, general and administrative expenses of $2.8 million were
reduced by approximately 43% from the first quarter prior year. The Company
also sold the former Datastorm building in Columbia, MO, resulting in a one
time gain of $497,000.
"I am pleased to report that Quarterdeck is solidly on course for a year
of profitable growth," said Curt Hessler, president and CEO of Quarterdeck
Corporation. "With last year's restructuring and balance sheet issues now
behind us, the new team is focused one-hundred percent on making and marketing
an expanding line-up of great PC helpware products." |
