BOGN the next EFAX... Load up while still $6 /share
BOGN looks to be a spinnoff play, with them holding 100% ownership in Digitronic, Europe's EFAX basically, which provides E-mail, Fax, and Voice mail for corporations and ISP's including AOL.
BusinessWire, Thursday, March 18, 1999 at 08:52
RAMSEY, N.J.--(BUSINESS WIRE)--March 18, 1999--Bogen
Communications International, Inc. (NASDAQ:BOGN) today announced results for its fourth quarter and year ended December 31, 1998.....
Michael P. Fleischer, Bogen's President, commented, "The
groundwork laid throughout 1998 produced a far more profitable
business than when new management arrived just over a year ago.
Looking past the non-cash charges, we see major improvements in profitability. Moreover, the favorable performance trends of earlier quarters continued into our final quarter.....
"In addition to important gains in operating profits," Jonathan Guss, Bogen's CEO said, "many other less visible accomplishments have positioned Bogen for further profitable growth in 1999 and beyond.
These include:
-- Strengthening our balance sheet by reducing long-term debt and converting preferred stock into common stock;
-- Putting in place $29 million of bank facilities to support our acquisition strategy;
-- Acquiring the remaining 33% interest in Speech Design, our most profitable and fastest growing business;
-- Acquiring Digitronic, giving Speech Design the tools to become a major participant in the emerging Unified Messaging/Internet Communications business in Europe; and,
-- Entering a dynamic phase in new product development, with six to eight new products scheduled for launch in 1999."
Messrs. Fleischer and Guss concluded by saying, "The
accomplishments of 1998, while impressive and satisfying, provide a solid foundation for even better performance in 1999." |
