Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : Spectrum Information Technologies (SPCLQ) -- Ignore unavailable to you. Want to Upgrade?

To: Bob Caputo who wrote (43)	2/4/1998 12:47:00 PM
From: leigh aulper	Read Replies (1) \| Respond to of 50

Spectrum Information Technologies Reports Third Quarter Results PURCHASE, N.Y. Feb. 4 /PRNewswire/ -- Spectrum Information Technologies, Inc. (OTC Bulletin Board: SITI) announced its financial results as reported in its Quarterly Report on Form 1O-Q for the period ended December 31, 1997, the third quarter of its fiscal year. Spectrum also reported on the development of FASTLANE(TM), the first planned product in Spectrum's INTELLIGENT PIPE(TM) remote access Internet software suite. For the quarter, Spectrum reported an operating loss of $1.2 million and revenues of $68,000, compared to an operating loss of $1.0 million and revenues of $205,000 during the quarter ended December 31, 1996. The revenues reported were generated from licensing and sale of products related to Spectrum's wireless data technology. Spectrum's net loss for the quarter was $1.1 million, or $.79 per share, compared to a net loss of $532,000, or $.52 per share, for the three months ended December 31, 1996. The quarter ended December 31, 1996 included a gain from discontinued operations of $531,000. For the nine months ended December 31, 1997, Spectrum's revenues were $1.5 million with a net loss of $2.0 million, or $1.62 per share, compared to revenues of $1.7 million and a net loss of $2.0 million, or $1.94 per share, for the same nine month period ended last fiscal year. Spectrum also reported that it is completing the beta release version of FASTLANE, a software proxy server designed to make Internet access a faster, smarter and more productive experience. The beta release of FASTLANE significantly improves the speed at which most popular graphics images are downloaded during Web browsing. Developed primarily as a value added service for Internet Service Providers (ISPs), FASTLANE offers ISPs the ability to deliver richly formatted Web content to dial-up users at greatly accelerated speeds. Spectrum offers attractive pricing models to assist ISPs in making FASTLANE available to their subscribers. Spectrum is in the process of identifying and meeting with ISPs to conduct market trials of FASTLANE. More information regarding FASTLANE and Spectrum's INTELLIGENT PIPE suite of Internet performance software is available on Spectrum's Web site at www.spectruminfo.com. In addition to developing remote access software, Spectrum owns a portfolio of patents relating to commercially practicable methods to wirelessly transmit data over circuit-switched cellular networks. Spectrum licenses this technology to many leading modem manufacturers and markets proprietary direct connect activation kits providing interface connection between a variety of cellular phones and PC card modems. Spectrum is headquartered in Purchase, New York and has offices in the Boston, Massachusetts and Redwood City, California areas.