here's some big numbers from a 2.00 stock...rev should increase this fy:
(PR NEWSWIRE) Netsmart Technologies, Inc. Announces Record Net Income for 200
Netsmart Technologies, Inc. Announces Record Net Income for 2000
ISLIP, N.Y., March 20 /PRNewswire/ --
Netsmart Technologies, Inc. (Nasdaq: NTST) announced today that for the year
ended December 31, 2000, the company had revenues of $20,171,000 as compared
to $21,252,000 for the year ended December 31, 1999. Although revenue
decreased slightly, net income for the year ended December 31, 2000 was
$2,386,000 ($.71 per share basic and $.63 per share fully-diluted) as compared
to $1,825,000 ($.62 per share basic and $.52 per share fully-diluted) for the
year ended December 31, 1999, an increase of 31%, resulting in the highest net
income in the company's history. Two major reasons for the increased profit
are that the revenue mix continued to improve with a 56% increase in long-term
recurring revenue coupled with increased operational efficiencies.
CEO James Conway commented, "We are very proud of our increased
profitability and improved margins. The slight decrease in revenue was
reflective of an industry wide slowdown in IT purchasing activity following
aggressive Y2K initiatives. We are confident that the health and human
services industry will now begin to focus on the new and demanding Federal
requirements of the Health Insurance Portability and Accountability Act. This
Act forces doctors and hospitals to be in compliance by mandating significant
IT and business process re-engineering protocols that will have a profound and
positive effect on IT requirements in the years to come. We believe that
these significant information technology requirements being imposed on our
customer base can be met by our products, which are uniquely targeted to
address these requirements."
About Netsmart Technologies, Inc.
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 health and human services providers for the past
30 years. CSM (http://www.csmcorp.com), with over 500 behavioral healthcare
clients nationwide, including state agencies in 15 states, provides
enterprise-wide solutions for health and human services providers. The Avatar
Practice Management System and the Avatar 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.
NETSMART TECHNOLOGIES, INC.
Comparative Operating Results for the Year and Three Months Ended December 31,
Year Three Months
2000 1999 2000 1999
Revenue $20,171,000 $21,252,000 $4,562,000 $5,205,000
Net Income $2,386,000(1) $1,825,000(2) $1,045,000(1) $641,000(2)
Net Income
Per share basic: $.71 $.62 $.30 $.21
Weighted average
shares of common
stock outstanding
basic: 3,367,005 2,921,254 3,493,598 2,983,405
Net Income per
Share diluted: $.63 $.52 $.27 $.18
Weighted average
shares of common
stock outstanding
diluted: 3,770,992 3,516,317 3,896,663 3,517,742
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.
(1) Includes benefit of net operating loss in the amount of $494,000 and
a gain from discontinued operations in the amount of $70,000.
(2) Includes gain from discontinued operations in the amount of $180,000.
SOURCE Netsmart Technologies, Inc.
-0- 03/20/2001
/CONTACT: James Conway of Netsmart Technologies, Inc., 631-968-2000; or
Ron Marge of Creative Socio-Medics, Corp., 631-968-2026/
/Web site: netsmartech.com
csmcorp.com
(NTST)
CO: Netsmart Technologies, Inc.; Creative Socio-Medics, Corp.
ST: New York
IN: CPR STW HEA
SU: ERN
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