Great news on FCM!!!
Folks, this may have been a "boring"
stock, but its about to heat up over
the next few months. As I said before,
now is the time to buy.
Thursday April 29, 5:40 pm Eastern Time
Company Press Release
Franklin Telecom Issues 10Q for March Quarter: Internet Company Shows
Profit
WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--April 29, 1999-- Franklin
Telecom (AMEX:FCM - news) Thursday filed its 10Q for the March 1999
quarter with the Securities and Exchange Commission.
Sales for the quarter were $4,270,000. Net income was $382,000. Earnings
per share were $.02.
These results show a 244% increase from the December quarter which
reported $1.2 million in revenue. Furthermore, this is a 1,214% increase
over the same quarter last year.
Franklin CFO, Tom Russell, said, ''This quarter is a milestone in the
company's history. After a lengthy period of product development, the
company has turned this into a commercial success, with profitable
results. Looking over the last five quarters, we have demonstrated a
remarkable, consistent sales growth.''
Frank Peters, Franklin's chairman and chief executive officer,
commented, ''We are excited and gratified at this evidence of our
continued growth. Going back one year, our revenues starting last March
1998 for each quarter were $325,000; $524,000; $933,000; $1,200,000. Now
for the March 1999 quarter, our net income is greater than our total
sales from the quarter a year ago. We're bucking the trend for Internet
companies -- we are making a profit!''
Peter Buswell joined Franklin last July as president and COO. According
to Buswell, ''My goal on arriving at Franklin was to have the company
profitable within one year. Happily, we're three months ahead of
schedule. Our Tempest® Data Voice Gateway product line has matured and
is expanding to offer advanced generation features that utilize the
unique qualities that the Internet offers for e-commerce, among other
applications. As our momentum continues to build, we're anticipating an
exciting future.''
About Franklin Telecom
The primary business of Franklin Telecom is the design and manufacturing
of communications devices including hardware and software solutions
which enable superior quality Voice over IP applications. Franklin
customers have installed over 100,000 nodes worldwide. Franklin's
Internet subsidiary FNet provides Voice over Internet Protocol global
Telco services.
Certain statements in this news release constitute ''forward-looking
statements'' within the meaning of Section 27A of the Securities Act of
1933 and Section 21E of the Securities Exchange Act of 1934. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results,
performance, or achievements of the company to be materially different
from any future results, performance or achievements, expressed or
implied by such forward-looking statements.
For additional information about this announcement, visit the Officer's
Message page at Franklin's Web Site: www.ftel.com; www.franklin.net --
for Internet Services and Access; www.fnet.net -- for Internet Telephony
& Franklin's Next Generation Telephone Company.
------------------------------------------------------------------------
Contact:
Franklin Telecom, Westlake Village
Helen West, 805/373-8688
hwest@ftel.net |
