I'm not sure why there is not any interest in this company. All
the data I've looked at so far suggests this is a nice profitable
operation growing both revenues and profits. Here is the latest
news release for YE 1997...
Telecomm Industries Reports Record Earnings for
Fourth Quarter and Fiscal 1997
Business Wire - March 03, 1998 09:51
%TELECOMM-INDUSTRIES TCMM AIT %ILLINOIS %OHIO %COMPUTERS %ELECTRONICS
%COMED %TELECOMMUNICATIONS %EARNINGS V%BW P%BW
NAPERVILLE, Ill.--(BUSINESS WIRE)--March 3, 1998--Telecomm Industries Corp.
(OTC BB:TCMM) announced today record financial results for the fourth quarter ending
Dec. 31, 1997.
The company reported a 71 percent increase in revenues to $6.3 million, a 160 percent
increase in net income to $278,000, and a 100 percent increase in earnings to 2 cents per
share. Revenues for the fourth quarter of 1996 were $3.7 million, with net income of
$107,000 or 1 cent per share.
For the year ending Dec. 31, 1997, the company reported a 61 percent increase in revenues
to $17.1 million, a 111 percent increase in net income to $1.1 million, and a 67 percent
increase in earnings to 10 cents per share. For the same period in 1996, revenues were $10.6
million with net income of $522,000 or 6 cents per share.
James Lowery, chairman and CEO, said, "We are pleased but not surprised by the record
revenue and earnings growth in 1997. The main contributing factors to the record quarter
were our sales people's ability to close large pending deals, a booming economy coupled with
the opportunities afforded us by the Telecommunications Act of 1996, and the fact that we
are in one of the most exciting and fastest growing industries in the world. We are beginning to
see the results of our change in product mix and the effectiveness created by the continued
computerization of our offices.
"Additionally, we are exceeding our Ameritech (NYSE:AIT) objective and product sales
commitment much earlier in the year, both of which lead to higher profit margins. This is the
fourth consecutive year of record revenue and earnings growth for the company. For the year,
revenues increased by 61 percent and net income increased by 111 percent. All in all, we are
extremely pleased with the fourth quarter and year-end results, especially since we have yet to
see the full impact of the Unitel acquisition. Because of our highly skilled sales force, strong
management team, and aggressive acquisition strategy, we will continue to deliver strong
growth for our shareholders."
Telecomm Industries Corp. is one of the nation's largest distributors of voice and data services
for Ameritech (NYSE:AIT), BellSouth (NYSE:BLS), and GTE (NYSE:GTE). Telecomm
combines these services with products from world class manufacturers to provide single
source telecommunication and computing solutions to its business customers. Telecomm
specializes in being the single provider of the customer's total communication needs.
Telecomm has over 30,000 accounts in seven states with more than 20 branch offices
strategically located throughout the Midwest.
This press release includes forward-looking statements. Actual results may differ materially
from those projected in the forward-looking statements. Reference is made to the company's
filings with the Securities and Exchange Commission, including the company's annual report
for fiscal 1996 on Form 10-KSB and for fiscal 1997 on Form 10-KSB, for a description of
factors that could cause actual results to differ materially from those in the forward-looking
statements.
Telecomm Industries Operating Statistics
Quarter Ended Dec. 31, 1997
1997 1996 % Increase
_________________________________________________________________
Revenues $6,379,000 $3,726,000 71%
Net income $ 278,000 $ 107,000 160%
E.P.S. $ 0.02 $ 0.01 100%
Common shares used 10,854,949 9,425,291
Year Ended Dec. 31, 1997
1997 1996 % Increase
_________________________________________________________________
Revenues $17,051,000 $10,561,000 61%
Net income $ 1,102,000 $ 522,000 111%
E.P.S. $ 0.10 $ 0.06 67%
Common shares used 10,854,949 9,425,291
CONTACT: Telecomm Industries Corp.
Dave Gruber, 330/963-0566
Fax: 330/963-0565 |
