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Technology Stocks : NetSolve, Incorporated (NTSL) -- Ignore unavailable to you. Want to Upgrade?

To: fiberman who wrote (87)	10/26/1999 6:40:00 PM
From: Mr. Big	Read Replies (1) \| Respond to of 92

NetSolve, Incorporated Reports Strong Second Quarter Results AUSTIN, Texas — October 26, 1999 — NetSolveÒ Incorporated (Nasdaq:NTSL) today announced financial results for its second fiscal quarter ended September 30, 1999. Network management services revenues for the quarter totaled $5.5 million, a seventy-nine percent (79%) increase over network management services revenues of $3.1 million for the same quarter a year ago. Total revenues for the quarter ending September 30, 1999 totaled $9.3 million, a forty-five percent (45%) increase over total revenue of $6.4 million for the same period a year ago. Operating income for the quarter ended September 30, 1999 totaled $888,000, approximately seven (7) times the operating income of $126,000 for the same period a year ago. This represents a quarterly sequential growth of approximately twenty-three percent (23%) when compared to operating income of $719,000 in the prior quarter. Net income for the quarter ended September 30, 1999, which includes an estimated income tax benefit of $1.1 million related to prior operating losses, was $2.0 million, or $0.17 per share on a fully diluted basis. Fiscal year to date network management services revenues totaled $10.1 million, a seventy-nine percent (79%) increase over management services revenues of $5.6 million for the same period a year ago. Fiscal year to date total revenues were $18.4 million, a fifty-three percent (53%) increase over total revenues of $12.0 million for the same period a year ago. Fiscal year to date operating income totaled $1.6 million as compared to an operating loss of $167,000 for the same period a year ago. Fiscal year to date net income, which includes an estimated income tax benefit of $2.2 million related to prior operating losses, was $3.9 million, or $0.33 per share on a fully diluted basis. This compares to a net loss of $96,000 or a loss of $0.01 per share on a fully diluted basis for the same period a year ago. In an effort to provide a comparison with analyst models, the amounts above have been presented on a pro forma basis, as if all preferred shares were converted to common shares at the time of issuance. "NetSolve believes these results reflect the strength of the value that we offer our customers" said Craig Tysdal, president and CEO of NetSolve. "Our people, processes and tools combine to truly differentiate NetSolve in remote network management services. We will continue to focus on exceeding our customers' expectations and delighting them with our service," Tysdal expanded.