Transnet's latest quarterly results:
TRANSNET CORPORATION ANNOUNCES FIRST QUARTER RESULTS
BRANCHBURG, N.J., Nov. 5 /PRNewswire/ -- TransNet Corporation (Nasdaq:
TRNT) announced its results for the first quarter ended September 30,
1996. The results for the first quarter of fiscal 1997 represent an
increase of 26% in net earnings over the same period in the prior year.
For the first quarter ended September 30, 1996, the Corporation reported
earnings of $297,281, or $0.06 per share, on the quarter's revenues of
$16,539,108, as compared to earnings of $236,116 or $0.05 per share on
revenues of $15,729,967 in the same period in the prior year.
Commenting on the results, Steven J. Wilk, TransNet president, said, "We
are extremely pleased with our 26% increase in net income, and the 25%
increase in service related revenues for the quarter ended September 30,
1996. During the quarter, the already strong demand for short- term
projects increased, particularly from large organizations engaged in
research and development operations arid from educational institutions.
Many of these educational clients contracted with TransNet to provide
them with the architecture to provide Internet access to students and
faculties. We anticipate a further growth of business with educational
institutions as they realize the integral role of the Internet in
education.
"We are optimistic about our performance in the second quarter. Our
sales revenues for the month of October 1996 have set new monthly
revenue records. As we approach the end of the calendar year, we will
continue the process of negotiating with current and prospective clients
for the renewal of existing contracts and bidding for new contracts for
calendar 1997. We are proud that virtually all of our existing
contracts have been renewed. In addition, TransNet has been awarded new
contracts which we anticipate will significantly increase our technical
service and support revenues in 1997."
TransNet Corporation is a leading sales and support organization for
personal computers, peripherals, and networks, and provides
sophisticated system integration and repair/maintenance services and
user training. Its clients include Fortune 100 organizations, primarily
in the pharmaceutical, oil and gas, finance and communications
industries, as well as educational and governmental institutions.
TRANSNET CORPORATION AND SUBSIDIARY
Consolidated Statements of Operations
For the Three Months Ended Sept. 30
1996 1995
Revenues $ 16,539,108 $ 15,729,967
Earnings $ 297,281 $ 236,116
Earnings Per Share $ 0.06 $ 0.05
SOURCE TransNet Corporation
-0- 11/05/96 /CONTACT: Steven J. Wilk of
TransNet Corporation, 908-253-0500/ (TRNT)
CO: TransNet Corporation ST: New Jersey IN: CPR SU: ERN
Comments anyone? Looks on track to me. I look forward to Mr. Davis's imput on these results. Mike |
