Repost--FARMINGTON, Conn., April 28 /PRNewswire/ -- Command Systems, Inc. (NASDAQ:CMND) today announced financial results for its first quarter ended March 31, 1998. Revenues totaled $7,934,000, a 54% increase compared with revenues of $5,144,000 for the 1997 first quarter. Pretax income for the 1998 first quarter was $559,000, as compared with a loss of $214,000 a year ago.
Net income was $455,000 against a loss of $271,000 for the comparable 1997 period. Earnings per share (basic) were $.04 versus a loss of $.06 in the 1997 first quarter. Earnings per share, assuming full dilution, improved to $.04 from a loss of $.06 for the same period last year.
Edward G. Caputo, Chairman, President and CEO, said, "This was Command
Systems' first quarter as a public company, and we are pleased with our performance. Our revenue continued to grow as a result of increased Year 2000 and staff augmentation business, and our earnings improved on the higher volume and as a reflection of higher-margin, value-added project business.
Our gross profit margin increased to 35.6% from 25.2% in the same period last year."
"The recent investments we have made in our sales and delivery systems are positioning the Company to shift an increasing percentage of its business focus from IT staff augmentation to a project orientation," Caputo continued. |
