Well folks here are the Q results. They look great!!
Please notice the list of customers contained in these results. I'll comment more on these later . . .
Yup, we have a real company here my friends! This is very impressive, and encouraging! <ggg>
Crazy Canuk
P.S. Sorry for the formatting. SI would not allow spacing between the numbers.
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Advanced Systems International Announces Second Quarter Financial Results
SOUTHFIELD, MI, Aug 17, 1999 (BUSINESS WIRE via COMTEX) --
AdvancedSystems International ("ASI") (NQB: ADSN), a leading provider of enterprise software solutions, today reported second quarter 1999 revenues of $2.2 million. This is a 25% increase over the first quarter of 1999 and a 240% increase from Q2 1998. Net earnings for the most recent quarter were $375,353 ($0.03 per share), an increase of 23% over the previous quarter.
Revenues for the first two quarters of 1999 were 3,964,637, a 312% increase over the same period last year with earnings of $681,695 ($0.06 per share).
Gerry Pesut, president and CEO of ASI, said, "Our second quarter results demonstrate the growing acceptance of our ATServer(R) product line-- and ASI's ability to deliver value-added solutions to our customers as well as to implement and execute our business plan. During the reported period, ASI closed major contracts with Volvo, Johnson Controls and Imperial Tobacco. The company also completed installations at Peregrine, John Morrell & Co., Rolls RoyceAllison and Dana Corporation- Spicer Driveshaft Division. In addition, ASI entered a new vertical market with the implementation at Blandin Paper. We are pleased that some of our existing clients are contracting for additional multiple plant installations.
"During this quarter," Pesut continued, "we started implementation of ASI's new ATLink(TM), a new windows based data collection solution at Imperial Tobacco - initiating our thrust into the high-growth electronic commerce enabling market. We anticipate that growing ATLink
sales will create an additional significant revenue stream for ASI."
Pesut added that Advanced Systems International continues to be committed to growth and expansion. Growth strategies include on-going product development and positioning, continued strengthening of strategic relationships within the industry, and the addition of world class professionals to the company's management, staff, and board of directors.
Advanced Systems International (ASI) is a leading supplier of mission critical application solutions for the enterprise-processing environment. Solutions include: the ATServer, time and attendance/labor allocation application, addresses the time collection and labor management needs of mid to large scale, client/server environments; and the ATLink, designed to support business to business electronic
commerce, by enabling the collection, communication and integration of critical data on different platforms or operating systems.
ASI's cost-effective, comprehensive product offering encompasses the application software, hardware, implementation services and on-going support necessary for rapid deployment of enterprise-wide distributed
processing. Key markets include: automotive, automotive supply, packaged goods, pharmaceuticals, paper products, food processing and other manufacturing industries. The company markets its products through direct sales and in conjunction with strategic partners.
Three Months Ended Six Months Ended
June 30, June 30,
1999 / 1998 / 1999 / 1998
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Sales
$ 2,202,377 / $ 647,312 / $ 3,964,637 / $ 961,313
Cost of Sales
283,750 / 48,589 / 402,584 / 75,201
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Gross Profit
1,918,627 / 598,723 / 3,562,053 / 886,112
Operating Expenses
Sales & Marketing
423,359 / 158,650 / 835,885 / 311,247
Research & Development
304,615 / 55,242 / 407,096 / 114,434
General & Administrative*
732,724 / 377,658 / 1,539,680 / 764,436
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Earnings/(Loss) From Operations
457,928 / 7,172 / 779,392 / (304,006)
Other Expense
82,575 / 28,124 / 97,698 / 59,446
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Interest Expense
82,575 / 28,124 / 97,698 / 59,446
Net Earnings/(Loss)
$375,353 / $ (20,951) / $ 681,695 / $(363,451)
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Earnings/(Loss) Per Share - basic
$ 0.03 / $ - / $ 0.06 / $ (0.04)
===========================================
* General & Administrative includes implementation/customer
support costs.
In conjunction with the provisions of the new "Safe Harbor" section of the Private Securities Litigation Reform Act of 1995, this news release may contain forward-looking statements pertaining to future anticipated projected plans, performance and developments, as well as other statements relating to future operations. All such
forward-looking statements are necessarily only estimates of future results and there can be no assurance that actual results will not materially differ from expectations. Further information on potential factors that could affect Advanced Systems International, Inc. is included in the company's Form 10 filed with the Securities and Exchange Commission |
