NTST great earning news out. News has not hit Yahoo yet.
Revenues up 48%
Net income up 178%
The following is from MyTrack.
(PR NEWSWIRE) Netsmart Technologies Announces Record Third Quarter Earning
Netsmart Technologies Announces Record Third Quarter Earnings
ISLIP, N.Y., Nov. 3 /PRNewswire/ -- Netsmart Technologies, Inc.
(Nasdaq: NTST) announced today that for the third quarter ended September 30,
1999, the company had revenues of $5,240,000 as compared to $3,540,000 for the
quarter ended 1998, representing a 48% increase in revenue. For the nine
months ended September 30, 1999 revenues increased 81% to $16,047,000 as
compared to $8,881,000 for the nine months ended September 30, 1998.
Net Income from operations for the quarter ended September 30, 1999 was a
record increase of 178% to $444,000 as compared to $160,000 for the quarter
ended September 30, 1998. Net income for the nine months rose to
$1,184,000 as compared to a loss of $234,000.
James Conway, CEO of Netsmart Technologies stated, "Our record income for
both the nine and three months ended September 30, 1999 reflects the continued
acceptance of our behavioral health systems and services in the public and
private sectors."
Recently, Netsmart Technologies has announced several agreements
including: the development of a web-portal for behavioral health professionals
with Pathware Inc., a marketing agreement with PricewaterhouseCoopers and a
partnership with Mallinckrodt to launch smart card technology for use in
Methadone Clinics.
About Netsmart
Netsmart (http://www.netsmartech.com), through its wholly owned subsidiary
Creative Socio-Medics (CSM), has been a leading supplier of enterprise-wide
software solutions for human services providers for the past 30 years. CSM
(http://www.csmcorp.com), with over 500 behavioral healthcare clients
nationwide, including state agencies in 14 states, provides enterprise-wide
solutions for behavioral healthcare providers. The Behavioral Healthcare
Information System and the Clinician WorkStation, CSM's core products, are
full-featured information systems that operate on a variety of operating
systems, hardware platforms, and have unlimited scalability.
Any statements in this release that are not statements or descriptions of
historical facts may be "forward-looking statements" as that term is defined
under the Federal securities laws. Forward-looking statements are subject to
risks, uncertainties and other factors, including, but not limited to, those
described in Netsmart's filings with the Securities and Exchange Commission.
Netsmart 3rd Quarter Earnings
Quarter Ended Quarter Ended
September 30, 1999 September 30, 1998
Revenue $5,240,000 $3,540,000
Income (loss)
from continuing
operations 444,000 160,000
Income (loss)
from discontinued
operations -- (37,000)
Net Income 444,000 123,000
Income (loss)
from continuing
operations per share
- Basic $0.15 $0.06
(Loss) from
discontinued operations
per share
- Basic $0.00 $(0.02)
Net Income per share
- Basic $0.15 $0.04
Weighted Average Shares
- Basic 2,976,380 2,781,588
Net Income (Loss)
continuing operations
- Diluted $0.13 $0.06
(Loss) from discontinued
operations per share
- Diluted $0.00 $ (0.02)
Net Income per share
- Diluted $0.13 $0.04
Weighted Average Shares
- Diluted 3,530,513 2,804,017
Netsmart Technologies Nine Month Earnings
Nine Months Ended Nine Months Ended
September 30, 1999 September 30, 1998
Revenue $16,047,000 $8,881,000
Income (loss) from
continuing operations 1,184,000 147,000
Income (loss) from
discontinued operations -- (381,000)
Net Income $ 1,184,000 $(234,000)
Net Income (Loss) from
continuing operations
per share
- Basic $0.41 $ 0.06
Net Income (Loss) from
discontinued operations
per share
- Basic $0.00 $(0.14)
Net Income (Loss)
per share
- Basic $0.41 $(0.08)
Weighted Share Outstanding
- Basic 2,902,608 2,779,075
Net Income (Loss)
from continuing
operations per share
- Diluted $0.34 $ 0.06
Net Income (Loss)
from discontinued
operations per share
- Diluted $0.00 $(0.14)
Net Income (Loss)
per share
- Diluted $0.34 $(0.08)
Weighted Share Outstanding
- Diluted 3,466,471 2,779,075
SOURCE Netsmart Technologies, Inc.
-0- 11/03/1999
/CONTACT: Stuart Fine of Rubenstein Investor Relations, 212-843-8092, for
Netsmart; or Tony Grisanti of Netsmart Technologies, 516-968-2000/
/Web site: netsmarttech.com
(NTST)
CO: Netsmart Technologies, Inc.; Creative Socio-Medics
ST: New York
IN: MLM MTC CPR
SU: ERN
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