FARMINGTON HILLS, Mich.--(BUSINESS WIRE)--March 22, 1999--Data
Systems Network Corporation (OTC BB:DSYS) announced today that its
1998 total net loss declined to $4,678,893, or $.96 per share,
compared to 1997's total net loss of $4,974,100, or $1.15 per share.
Total revenue for the year was $85,323,500 compared to $85,997,140 in
1997.
The 1998 total net loss includes $980,311, or $.20 per share, in
losses from discontinued operations and a non-cash reserve for
settlement of shareholder lawsuits of $1,768,000, or $.36 per share.
The Company's loss in 1998 from continuing operations before
interest and taxes ("EBIT"), declined sharply to $1,587,100 from
$3,667,402 in 1997 while revenues remained essentially the same for
both years. Additionally, the EBIT loss includes over $1.0 million in
non-recurring professional fees resulting from to the Company's
comprehensive accounting review process in 1998. |
