Is this a no brainer, or am I missing something? A two dollar stock?
More from NTRX:
-----------------------------------------
For Third Quarter Ended September 30, 1998
HERNDON, Va., Oct. 12 /PRNewswire/ -- NETRIX Corporation (Nasdaq: NTRX),
worldwide supplier of voice and data networking products, today announced
preliminary estimated results for the third quarter ended September 30, 1998.
For the quarter, total revenue is estimated to be approximately
$8.3 million, compared to $7.8 million reported in the second quarter of this
year, and $8.9 million reported for the quarter ended September 30, 1997. This
is the third consecutive quarter of top line revenue growth. The loss for the
third quarter is estimated not to exceed approximately $200,000, compared to a
loss of approximately $2.8 million reported in the second quarter of this
year, and a loss of approximately $1.0 million reported for the year-ago
quarter.
Cash and cash equivalents at September 30, 1998 are estimated to be
approximately $1.8 million, compared to approximately $516,000 reported at
June 30, 1998, an estimated increase of approximately $1.3 million during the
quarter. The outstanding borrowings under the line of credit at September 30,
1998 are estimated to be approximately $1.7 million, compared to approximately
$1.1 million reported at June 30, 1998. Excluding the approximately $600,000
increase in borrowings, cash increased approximately $700,000 during the most
recent quarter, primarily due to increased collections and one-time, non-
recurring inflows from sales.
President and CEO Lynn Chapman stated, "I am very pleased with preliminary
results for the quarter. When compared to Q2, the improvement is substantial,
even after removing the effect of additional reserves taken in Q2. While it's
noteworthy that margins are estimated to be up slightly on higher revenues,
it's particularly important to note that operating expenses were lower than
Q2, resulting in substantial bottom line improvement. It's gratifying that our
improved performance is the result of a company-wide response to problems that
culminated last quarter, and we appreciate our lending institution hanging in
there with us."
The Company expects to report final Q3 results on October 22, 1998.
Complete details will follow in a subsequent announcement. |
