(BSNS WIRE) Telebyte Reports Second Quarter Results
Telebyte Reports Second Quarter Results
Business & Technology Editors
GREENLAWN, N.Y.--(BUSINESS WIRE)--Aug. 14, 2000--Telebyte Inc. and
its subsidiary (OTC BB: TBTI), a manufacturer of data communications
equipment, today released its financial results for the quarter ended
June 30, 2000.
Telebyte reported revenues for the six months ended June 30, 2000
of $3,252,905, an increase of 19% as compared to $2,728,246 for the
similar period in 1999. Income for the six months ended June 30, 2000
was $349,908 or $.22 diluted per share, an increase of 211% as
compared to $112,515 or $.09 diluted per share for the same period in
1999. Revenues for the second quarter ended June 30, 2000 were
$1,570,600, an increase of 15% as compared to $1,362,966 for the
similar period in 1999. Income for the second quarter ended June 30,
2000 was $182,950 or $.12 diluted per share, an increase of 314% as
compared to $44,139 or $.03 diluted per share for the same period in
1999.
"We are pleased with the Company's sales and earnings growth
during the second quarter," commented Michael Breneisen, Telebyte's
President and Chief Operating Officer. He stated that the results are
a testimony to the success of the strategies and initiatives the
Company has implemented over the last 18 months. The Company continues
to focus its engineering and marketing efforts on its Digital
Subscriber Line (DSL) test equipment product line. Introduction of a
multi-line wireline simulator, which can simulate up to 16 local loops
up to 20,500 feet each, is expected during the fourth quarter of 2000.
The target market for this product will be the manufacturers of DSL
modems.
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*T
Telebyte, Inc. and Subsidiary (TBTI)
Statement Of Earnings (Unaudited)
Three Months Ended Six Months Ended
June 30, June 30,
2000 1999 2000 1999
Net Sales: $1,570,600 $1,362,966 $3,252,905 $2,728,246
Income
Before
Taxes: $ 297,950 $ 69,139 $ 570,408 $ 182,515
Income
Tax
Provision: $ 115,000 $ 25,000 $ 220,500 $ 70,000
Net
Income: $ 182,950 $ 44,139 $ 349,908 $ 112,515
Earnings
Per Share:
Basic $ .15 $ .04 $ .28 $ .09
Diluted $ .12 $ .03 $ .22 $ .09
Average
Shares
Outstanding:
Basic 1,253,631 1,248,631 1,251,780 1,275,911
Diluted 1,572,611 1,276,061 1,604,575 1,303,342
*T
This release may include forward-looking statements concerning
Telebyte's intent, belief or current expectations with respect to,
among other things, trends affecting its financial condition or
results of operations and its business and growth strategies. Such
forward-looking statements are not guarantees of future performance
and involve risks and uncertainties including without limitation,
those risks set forth under the caption "Risk Factors" in our Annual
Report on Form 10-KSB for the year ended December 31, 1999, that may
cause actual results to differ materially from those projected,
expressed or implied. Telebyte does not undertake any obligations to
update or revise any forward-looking statements. All forward-looking
statements are subject to the risks and uncertainties detailed in the
Company's filing with Securities and Exchange Commission.
Telebyte, Inc. is a manufacturer of data communications equipment
for fiber and copper networks headquartered in Greenlawn, New York.
Telebyte supports a wide range of communications solutions and
services including DSL Test Equipment, LAN Transceivers, Interface
Converters, Short Haul Modems, Fiber Optic Products, Multiplexers and
Lightning Protection. Nextday.com, a wholly owned subsidiary, is a
business-to-business cross industry e-marketplace. Additional
information on Telebyte and Nextday.com. can be found at
www.telebyteusa.com and www.Nextday.com.
--30--db/ny*
CONTACT: Telebyte Inc.
Michael Breneisen, 631/423-3232 ext. 426
www.telebyteusa.com
KEYWORD: NEW YORK
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS HARDWARE
TELECOMMUNICATIONS EARNINGS
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