Command Systems, Inc.
Condensed Consolidated Statement of Income
(in thousands, except per share data)
Three Months Ended March 31,
-----------------------------------
1999 1998
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Revenue $ 6,932 $ 7,934
Cost of revenue 5,366 5,110
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Gross profit 1,566 2,824
Selling, general and
administrative expense 2,935 2,157
Amortization of goodwill 114 114
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(Loss) income from operations (1,483) 553
Interest income, net 268 6
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(Loss) income before
provision for income taxes (1,215) 559
Provision for income taxes -- 104
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Net (loss) income $ (1,215) $ 455
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Preferred stock dividends
and accretion $ -- $ 260
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(Loss) income applicable
to common stockholders $ (1,215) $ 195
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(Loss) earnings per share - Basic $ (0.16) $ 0.04
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(Loss) earnings per share - Diluted $ (0.16) $ 0.04
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Weighted average number of
shares outstanding - Basic 7,657 4,877
Weighted average number of
shares outstanding - Diluted 7,657 4,938
Condensed Consolidated Balance Sheet
(in thousands)
March 31, December 31,
1999 1998
------------ ------------
Current assets
Cash, cash equivalents
and marketable securities $ 17,447 $ 18,994
Accounts receivable, net 6,749 6,433
Other current assets 996 936
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Total current assets 25,192 26,363
Property and equipment, net 2,164 2,283
Other assets 6,850 7,001
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Total assets $ 34,206 $ 35,647
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Liabilities $ 4,962 $ 5,192
Stockholders' equity 29,244 30,455
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Total liabilities and
stockholders' equity $ 34,206 $ 35,647
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CONTACT: BSMG Worldwide, New York
Peter Duda, 212/445-8222
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