INTERNET--(esecurities.W)--May 24, 1999 - Q1 ending Mar 31 '99, cont.
GROSS PROFIT
The Company continued to experience higher than normal returns and decreasing selling prices due to competitive pressures causing a decrease in gross profit percentage for the quarter ended March 31, 1999 compared to the same periods of the prior year. Gross profit for the three months ended March 31, 1999 was $1,786,000, an increase of $296,000, or 19.9%, compared to $1,490,000 for the three months ended March 31, 1998. As a percentage of revenues, gross profit was 21.6% for the three months ended March 31, 1999 compared to 23.7% for the three months ended March 31,1998. Gross profit as a percentage of revenue decreased primarily due to: a continuation of higher than normal returns as a result of general end-user product installation challenges in a Windows environment, and competitive pricing pressures.
RESEARCH AND ENGINEERING
Research and engineering expenses were $338,000 for the quarter ended March 31,1999, a decrease of $384,000, or 53.2%, compared to $722,000 for the quarter ended March 31,1998. This decrease was a result of a reduction in personnel in 1999. As a percentage of revenues, research and engineering expenses were 4.1%, for the three months ended March 31, 1999, compared to 11.5% for the three months ended March 31, 1998..."
SOURCE: sec.yahoo.com
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