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Technology Stocks : Top Image Systems Ltd. (TISA) -- Ignore unavailable to you. Want to Upgrade?

To: Fraser Parsons who wrote (270)	7/27/1999 12:23:00 PM
From: Skywatcher	Read Replies (1) \| Respond to of 436

Top Image Systems Advocates SEC Investigation Into Stock Promotion by Globus Group 'Spam' TEL AVIV, Israel, July 27 /PRNewswire/ -- TiS - Top Image Systems, Ltd., (Nasdaq: TISA - news, TISAW - news) today announced that it fully supports the Securities and Exchange Commission's investigation into the false promotion of the company's stock by Globus Group. The Securities and Exchange Commission has obtained a temporary restraining order against Globus Group from a US District Court. The SEC accused Globus of circulating stock recommendations aimed at stimulating investor interest by using the letterheads of other firms including Prudential Securities, Merrill Lynch and Citibank. Top Image Systems Chairman and CEO Izhak Nakar said today: ''In December 1997 we first became aware that unknown third parties were circulating inaccurate information about the Company and its activities. At that time we clearly stated that TiS was in no way connected to the spread of rumors and inaccurate information about the Company. We are pleased that the SEC investigation has uncovered the alleged source of this fraud and has taken legal steps to bring it to a conclusion.'' In addition to Top Image, whose shares are listed on the Nasdaq SmallCap market, Globus was reported to have recommended one other SmallCap stock as well as the stocks of a number of other companies quoted on the Nasdaq Bulletin Board. Let's get THIS crap behind us since they had nothing to do with it. Chris

To: Fraser Parsons who wrote (270)	8/5/1999 5:01:00 PM
From: Skywatcher	Respond to of 436

Top Image Systems 2Q99 Revenues Up 29 Percent TEL AVIV, Israel, Aug. 5 /PRNewswire/ -- Top Image Systems, Ltd., (Nasdaq: TISA - news, TISAW - news) today announced financial results for the second quarter and six months ended June 30, 1999. For the second quarter of 1999, revenues increased 29 percent to $2.3 million compared to the second quarter of 1998. Gross profit increased 35 percent to $1.8 million compared to the second quarter of 1998. Net income in the second quarter was $326,147 compared to $606,706 the previous year and earnings per share were $0.08 compared to $0.16 in the same period of 1998. The company announced that it has taken a one-time charge of $150,000 in the second quarter of 1999 for bad debts relating to a change in marketing strategy, which will allow TiS to aggressively pursue new distribution agreements in the U.S. Izhak Nakar, TiS Chairman of the Board and CEO, commented, ''We are pleased to report that with the second quarter results, TiS has increased revenues for 14 consecutive quarters. We have significantly increased research and development expenses to 9.4 percent of revenues in 2Q99 in order to meet the demands of the market for new internet-based products and processing of e-forms. In conjunction with this strategic decision, the Company will continue to present 1999 research and development costs as a separate line item in our statement of operations, versus previous years.'' Revenues for the six months ended June 30, 1999 increased 38 percent to $4.1 million compared to the same period in 1998. Gross profit increased 46 percent to $3.2 million compared to last year. Net income for the first half was $411,493 compared to $523,631 in 1998 and earnings per share were $0.10 compared to $0.14 in the same period of 1998. ''We are continuing our plan to invest in sales and marketing in 1999, with an increase in sales and marketing expenses of 67 percent in 2Q99 compared to 2Q98,'' continued Mr. Nakar. ''We recently announced the opening of a head office for TiS America, Inc. in California, which will enable the Company to expand sales channels and sales activities in the United States and Canada. In Europe and the Far East we are expanding our distribution network with high-quality, proven, system integrators.'' During the second quarter TiS announced a major contract with the Swiss Post, which together with the Company's success with Deutsche Post Direkt, puts TiS in a strong position in the postal services vertical market. TiS is placing particular emphasis on business alliances with major international companies, as well. The recently announced alliance with Eastman Kodak is expected to result in new joint projects in several markets. Mr. Nakar added, ''We are especially pleased with the sales success that we have achieved in the Japanese market, where despite the difficult economic conditions, we have significantly increased revenues. Our Japanese customers are now purchasing larger, network-based solutions of TiS' AFPSPro instead of the entry-level, single station, stand-alone product.'' ''In total, our success in second quarter and to date this year has set TiS on track to deliver revenue growth and increased market penetration in the coming periods,'' concluded Mr. Nakar. ''We are planning to capitalize on our US expansion and strategic alliances to the fullest extent.'' mmmmmmmmm chris