CNLG Trading over $6 after hours on this news below!
p.s
SW, This was a late POW for me if you remember
Message 12787602
MO
>>(BSNS WIRE) Conolog Corporation Announces Second Quarter Results
Conolog Corporation Announces Second Quarter Results
Business/Technology Editors
SOMERVILLE, N.J.--(BUSINESS WIRE)--Feb. 10, 2000--
-- Shows 300% Increase over Same Period in FY99 --
Conolog Corporation (NASDAQ: CNLG, CNLGW), an engineering and
design company that provides digital signal processing solutions
(DSP), reported total revenues of $1,767,824 for the second quarter
ended January 31, 2000, compared to $589,328 for the same period last
year, an increase of $1,178,496 or approximately 300%.
The Company reported a total net income for the period of
$328,743 or $0.06 per share versus a net loss of $510,338 ($0.12 per
share) for the second quarter of fiscal 1999.
For the first six months of fiscal 2000, net sales increased 255%
to $2,319,951, compared to $908,677 for the same period last year. Net
loss for the first six months of fiscal 2000 totaled $71,350 ($0.2 per
share) compared to a net loss of $229,831 ($0.05 per share) last year.
Conolog's President, Robert Benou, stated, "The second quarter
results are ahead of projections and reflect the Company's year 2000
turn-around. This improvement was largely due to the rapid growth in
all areas of our business as well as the receipt of $210,887 from the
sale of New Jersey State losses. Our goal is to accelerate this year's
growth and increase the revenues projected in our press release of
January 31, 2000."
Conolog Corporation is an engineering and design company
primarily engaged in providing engineering and technical personnel,
and manufacturing a line of digital signal processing systems (DSP),
including transmitters, receivers and multiplexers, under the INIVEN
trade name.
Forward-looking statements in this release are made pursuant to
the "safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995. Investors are cautioned that such forward-looking
statements involve risks and uncertainties, including, without
limitation, continued acceptance of the Company's products, increased
levels of competition, new products introduced by competitors, changes
in the rates of subscriber acquisition and retention, and other risks
detailed from time to time in the Company's periodic reports filed
with the Securities and Exchange Commission.
-0-
*T
For the three months For the six months
Ended January 31 ended January 31
2000 1999 2000 1999
Sales Revenues $ 1,556,937 $ 589,328 $ 2,319,951 $ 908,677
Costs and Expenses (1,439,081) (1,099,666) (2,602,188) (1,552,297)
Other Income 210,887 0 210,887 413,789
Net Income/(Loss)
after taxes,
including other
income $ 328,743 $ (510,338) $ (71,350) $ (229,831)
*T
--30--mm/bos* mb/bos bh/bos
CONTACT: National Financial Network
Robert Weiss, 781/444-6100 ext. 11
or
Conolog Corporation
Robert Benou, 908/722-8081
KEYWORD: NEW JERSEY
INDUSTRY KEYWORD: TELECOMMUNICATIONS MANUFACTURING EARNINGS
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
URL: businesswire.com
*** end of story ***
|
