Devin,
Here is recent press release:
WESTBORO, Mass., Oct. 24, 1996 - Proteon, Inc. (NASDAQ:PTON), today reported a net loss for the quarter
ended September 28, 1996, of $1,763,000 or $0.11 per share, compared with net income of $1,558,000, or $0.10 per
share for the comparable period of 1995. Net sales for the third quarter of 1996 were $10,589,000, compared with
$16,440,000 for the third quarter of 1995.
For the nine months ended September 28, 1996, Proteon reported a net loss of $3,967,000, or $0.26 per share,
compared with net income of $6,649,000, or $0.42 per share for the same period of 1995. Net sales for the first nine
months of 1996 were $35,253,000, compared with $58,095,000 for the first nine months of 1995.
"Our third quarter results represent a continued transition in our revenue streams from legacy to Remote Access
products, particularly the GlobeTrotter Internet Access Routers," said Daniel J. Capone, Jr., Proteon president and
chief executive officer. "We are happy to report that unit shipments of the GlobeTrotter line increased approximately
150 percent and total Remote Access unit shipments were up greater than 55 percent from second quarter levels.
"We intensified our outbound marketing campaigns in the third quarter, and we will begin an aggressive advertising
campaign later in the fourth quarter," Capone continued. "We are pleased with the continued acceptance of these remote
access products. We also are happy to report that in recent benchmark testing conducted by Strategic Networks
Consulting, Inc., Proteon's newly released ISDN products ranked best in dual channel transmission of compressed
data, and best in call setup starting time. Our product also scored extremely well in 'ease of installation and use.'
"We plan to continue our revenue transition in the upcoming quarters, and we look forward to continued growth in our
product lines which serve Internet and Intranet Access for SOHO and remote corporate offices," added Capone.
In this announcement, under the provisions of the new "safe harbor" section of the Private Securities Litigation Reform
Act of 1995, Proteon makes forward-looking statements that involve a number of risks and uncertainties. Among the
factors that could cause actual future results to differ materially are the level of acceptance of Proteon's products in the
marketplace; the company's ability to generate revenue across all existing product lines; future revenues generated by
the licensing of OpenROUTE software; general competitive pressures in the marketplace; the company's ability to
continue to sign agreements with reseller partners including both Premier Access Partner VARs and Internet Service
Providers; and continued overall growth in the networking industry. Risk factors are listed in the company's annual
report, Form 10-K, Form 10-Q and other filings with the Securities and Exchange Commission.
I spoke with the sales dept. today and they said that bussiness
was very good in terms of orders for product. I also put a call into Joe G. who is their corp. communications guy to find out about
other products under development.
I still think that the profitability for these guys will improve
over the next few quarters. I think if they could get out more information about the company more analysts would be interested in following them and that would also inhance value for us shareholders.
Bruce |
