DataWave Systems Inc -
3mo results
DataWave Systems Inc
DTV
Shares issued 26,865,874
1998-08-27 close $0.71
Friday Aug 28 1998
Mr. Peter Hough reports
Revenue of $2,728,609 (U.S.) for the first quarter ended June 30, 1998
presented an increase of 60 per cent compared to $1,705,359 (U.S.) for the first
quarter ended June 30, 1997. The company is anticipating similar revenue growth
as experienced during this quarter for the second quarter of this fiscal year.
The majority of the costs making up the net loss for the quarter of $1,401,383
(U.S.) were one time in nature and attributable to the following evens: writeoff of
deferred financing costs relating to the equity financing prospectus; acquisition
costs and infrastructure buildout of Metrophone Telecommunications, acquired
during the first quarter; conversion of DataWave's equipment from MCI to AT&T
which costs were written off during the quarter; and, personnel and infrastructure
costs associated with supporting the future expansion plans relating to the rollout
of DataWave equipment.
FINANCIAL HIGHLIGHTS
Three months ended June 30
(U.S. dollars)
1998 1997
Revenue $ 2,728,609 $ 1,705,359
Income (loss) (1,401,383) (89,887)
Earnings per
share (5 cents) (0 cents)
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