I am surprised nobody had caught this yet!
I no longer hold DSFT, however I still keep an eye on it.
Thursday September 24, 4:05 pm Eastern Time
Company Press Release
SOURCE: Delsoft Consulting, Inc.
Delsoft Consulting Announces Audited Results for Fiscal 1998 Year End
ROSWELL, Ga., Sept. 24 /PRNewswire/ -- DELSOFT CONSULTING INC. (OTC Bulletin Board: DSFT - news) today announced the audited results for its
fiscal year ended June 30, 1998.
Revenues for its second year of operations exceeded $11.0 million, which represents approximately an 80% increase over revenues of approximately $6.1 million
for the comparable prior year's period.
Pre-tax income for the fiscal year was approximately $578,000, an increase of approximately 326% compared to approximately $136,000 for the same period last
year. Net income was approximately $300,000, an increase of approximately 305% compared to approximately $74,000 for the same period last year. Basic
earnings per share increased to $.03 per share in 1998, as compared to $.01 per share in 1997.
DELSOFT Chief Financial Officer Jeffrey A. Rinde commented, ''We are extremely pleased with our overall financial performance. The Company exceeded
management's initial projections and continued its solid growth in revenue and net income. At the same time, we invested heavily in additional products and
management, including the purchase of NYE2000, a Y2K remediation tool that facilitates the analysis and conversion of natural(TM) source code.''
DELSOFT President Michael Osso added, ''DELSOFT continues to improve its position within the industry. Our ability to provide high quality resources and
services, with greater cost-effectiveness than many larger integrators continues to pay dividends. In fiscal 1999, the Company will seek to expand its services into
client server, ERP, and internet, to address customer needs beyond the Year 2000.''
DELSOFT CONSULTING, INC. is a software engineering and software development firm that specializes in developing efficient application software systems for a
diverse array of industries. The Company offers a wide variety of highly skilled professionals for all phases of project life cycles, from business planning and project
management to programming, testing and implementation.
Headquartered in Atlanta, Georgia, DELSOFT provides sales and service through regional offices in Indianapolis, Detroit, and Ottawa, Canada.
The Company is now a fully reporting company and will file a form 10-QSB after its first quarter.
Forward-looking statements in this release are made pursuant to the ''safe harbor'' provisions of the Private Securities Litigation Reform Act of 1995. Investors are
cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued use of the Company's services, and the
continued availability of labor resources. Natural is a registered trademark of Software AG.
SOURCE: Delsoft Consulting, Inc. |
