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Technology Stocks : Cognitronics (AMEX: CGN) -- Ignore unavailable to you. Want to Upgrade?

To: Neil Kalton who wrote (108)	1/27/1998 12:54:00 PM
From: mrc	Read Replies (1) \| Respond to of 142

Neil, Looks like a good call. Regards, Rosalie

To: Neil Kalton who wrote (108)	1/29/1998 8:57:00 AM
From: JakeStraw	Respond to of 142

Cognitronics Settles Class-Action Lawsuits DANBURY, Conn., Jan. 29 /PRNewswire/ -- In another milestone in its recovery, Cognitronics Corporation (Amex: CGN - news) today announced that an agreement has been entered into to settle the consolidated class-action lawsuits filed against the company in March 1993. The company said that the settlement, which is subject to the execution of a stipulation of settlement and court approval, provides for the payment of an aggregate of $2.3 million by the company and its insurer into a settlement fund. Further, in its fourth quarter ended December 31, 1997, the company will record a one-time, pre-tax charge of approximately $900,000 (net of tax - $550,000, or $.14 per diluted share) for its share of the settlement and expenses related to these lawsuits. Cognitronics and certain of its current and former officers and directors are named in the consolidated class-action lawsuits filed in the United States District Court for the District of Connecticut on behalf of all persons who purchased Cognitronics' stock during the period from October 29, 1992 through March 11, 1993. Cognitronics denies the material allegations in the consolidated complaint and admits no wrongdoing or liability, but agreed to the settlement to avoid the ongoing expense and management's distraction and time related to further extensive legal proceedings. The settlement will result in a complete release of all claims related to this matter. ''This settlement is the last major factor in the company's restructuring and recovery, which began in 1994, and puts our only legal problem behind us,'' said Brian J. Kelley, president and chief executive officer of Cognitronics. ''With it, we have significantly lowered our legal expenses and increased the confidence of our employees, stockholders and potential investors.'' Statements contained herein which are not historical facts are forward-looking statements. The forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve a number of risks and uncertainties including, but not limited to, variability of sales volume from quarter to quarter, product demand, market acceptance, litigation, risk of dependence on significant customers, third party suppliers and intellectual property rights, risks in product and technology development and other risk factors detailed in the company's Securities and Exchange Commission filings. Cognitronics is a leading manufacturer and supplier of voice information systems, including telephone network and call management products, to telephone operating companies and original equipment manufacturers. SOURCE: Cognitronics Corporation

To: Neil Kalton who wrote (108)	3/10/1998 9:03:00 AM
From: JakeStraw	Read Replies (1) \| Respond to of 142

Cognitronics Reports Fourth Quarter Income Before One-Time Charge Equal to 28 Cents Vs 12 Cents DANBURY, Conn., March 10 /PRNewswire/ -- Cognitronics Corporation (Amex: CGN - news) today reported income, excluding a provision for the settlement of the class-action litigation, for the fourth quarter of 1997 equal to $.28 per diluted share, up 133% from $.12 per diluted share a year ago. For the quarter ended December 31, 1997, net income was $563,000, or $.14 per diluted share, versus $433,000 for the same quarter in 1996. The 1997 quarter includes the previously announced one-time pre-tax charge of $915,000 (net of tax -- $572,000 or $.14 per diluted share) in connection with the settlement of consolidated class-action lawsuits. The settlement is subject to the execution of a stipulation of settlement and court approval. Sales for the fourth quarter were $7.1 million in 1997, up 47% from $4.8 million in 1996. The Company said that the significant increase in fourth quarter 1997 sales over the comparable 1996 period was attributable to a 68% percent increase in sales by its domestic operations and a 17% increase in sales of distributorship products into the British telecommunications market. ''The increase in sales of domestic operations is attributable to the continuing success of the McIAS 16xx series products, particularly the company's flagship McIAS 1623/IP, sold to switch manufacturers, competitive access providers and competitive local exchange carriers,'' said Brian J. Kelley, president and chief executive officer of Cognitronics. For the year ended December 31, 1997, the company reported record net income of $3.6 million, or $.93 per diluted share, compared to $1.1 million, or $.31 per diluted share in 1996. The 1997 year includes pre-tax charges of $956,000 (net of tax -- $598,000 or $.15 per diluted share) in connection with the settlement of litigation. Sales for the year were a record $29.5 million in l997, up 7O% from $17.3 million in l996. Statements contained herein which are not historical facts are forward- looking statements. The forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve a number of risks and uncertainties including, but not limited to, variability of sales volume quarter to quarter, product demand, market acceptance, litigation, risk of dependence on significant customers, third party suppliers and intellectual property rights, risks in product and technology development and other risk factors detailed in the company's Securities and Exchange Commission filings. Cognitronics is a leading manufacturer and supplier of voice processing equipment, including telephone network and call management products, to telephone operating companies, original equipment manufacturers.

To: Neil Kalton who wrote (108)	4/28/1998 9:00:00 AM
From: JakeStraw	Read Replies (1) \| Respond to of 142

Cognitronics Reports First Quarter Net Income Equal to 30 Cents Vs 14 Cents DANBURY, Conn., April 28 /PRNewswire/ -- Cognitronics Corporation (Amex: CGN - news) today reported net income per share on a diluted basis for the first quarter of 1998 equal to $.30, up 114% from $.14 a year ago. For the quarter ended March 31, 1998, net income was $1.2 million versus $.5 million for the same quarter of 1997. Sales for the first quarter were $7.5 million in 1998, up 36% from $5.5 million in 1997. The company said that the significant increase in first quarter 1998 sales over the comparable 1997 period was attributable to a 38% increase in sales by its domestic operations and a 32% increase in sales of distributorship products into the British telecommunications market. Further, the gross margin percentage increased 4% overall due to increased sales of higher margin products in both operating areas and cost reductions of distributorship products in the UK. ''The year 1998 began with continued strong performance in both the company's domestic and UK distributorship operations,'' said Brian J. Kelley, president and chief executive officer of Cognitronics. ''The increase in sales of domestic operations is attributable to the continuing success of the McIAS(TM) l6xx series products, particularly the company's flagship McIAS 1623/IP, sold to switch manufacturers, competitive access providers and competitive local exchange carriers. ''During the 1998 first quarter, the term of the agreement under which Siemens Telecom Networks (formerly Siemens Stromberg-Carlson) purchases the company's McIAS 16xx voice processing systems was extended to September 30, 2000. Since the last quarter of 1996, Siemens Telecom Networks has been one of the company's significant customers. ''Also, the term of the agreement with Alcatel Indetel Industria de Telecomunicacion, S.A. de C.V. was extended to December 31, 1999. Under this agreement, we are optimistic that sales of the company's McIAS 16xx products for installation in the Mexican telecommunications market will begin in 1998. ''New product development continues and the investment in research and development is expected to continue to increase in 1998 to expand the capabilities of the McIAS 16xx/IP series products. We believe that the telecommunications market will require an enhanced intelligent peripheral for use in an Advanced Intelligent Network (AIN). Further, we believe that the McIAS 16xx series products will continue to offer our customers reliable, cost effective solutions for their current and future voice processing requirements,'' Kelley concluded. Statements contained herein which are not historical facts are forward-looking statements. The forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve a number of risks and uncertainties including but not limited to, variability of sales volume quarter to quarter, product demand, market acceptance, litigation, risk of dependence on significant customers, third party suppliers and intellectual property rights, risks in product and technology development and other risk factors detailed in the company's Securities and Exchange Commission filings. Cognitronics is a leading manufacturer and supplier of voice information systems, including telephone network and call management products, to telephone operating companies, other telecommunications providers and original equipment manufacturers.