Earnings Report:
Global Intellicom, Inc. Announces Third Quarter Results; Company Realizes 3rd Consecutive Quarter of Profitability
November 13, 1998 10:46 AM
NEW YORK, Nov. 13 /PRNewswire/ -- Global Intellicom, Inc. GBIT today announced earnings of $0.07 per share for the third quarter and $0.21 per share for the nine months ended September 30, 1998.
For the quarter ended September 30, 1998, the company reported net sales of $8,749,252. Net income for the quarter was $728,352 or $0.07 per common share. For the nine months ended September 30, 1998, net sales totaled $30,069,800 with a net income of $1,983,469 or $0.21 per common share. There were 10,026,235 average number of outstanding shares as of September 30, 1998.
Global Intellicom's management stated that they were pleased with the results of the third quarter and very proud to be able to show three consecutive quarters of positive earnings. Further, Global expects that its strategy for maintaining higher gross margins will fuel the company's continued profitable growth.
Global Intellicom, Inc. is a system integration company with state of the art network cabling and computer integration capabilities located in New York City, Pittsburgh, Exton, PA, Indianapolis, IN, Washington DC, and Orlando, FL. Global also functions as value added reseller of network services and PCs. Global holds reseller licenses with such companies as: Microsoft, IBM, Sun Microsystems, NEC, NCR Worldwide, Compaq, and Hewlett-Packard. Its clients include: Lockheed Martin, The Department of Defense, Loral Systems, EDS, and the General Services Administration. Through the aggregate use of Global Intellicom's resources, its mission is to be the information technology resource of choice for its customers, and to offer them a "total system solution" at competitive rates.
Except for the historical information contained herein, the matters set forth in this press release are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially. These risks are detailed in the company's period reports filed with the Securities & Exchange Commission. These forward-looking statements speak only as of the date hereof. The company disclaims any intent or obligation to update these forward-looking statements.
SOURCE Global Intellicom, Inc.
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