SA came across a very interesting company with very huge potential. Coming off of year low of $5.00. Check out the activity on new installations of their software systems to major RX companies. Sales will rocket soon....Also, the volume up 7 fold
Base Ten Systems, Inc. is engaged in the development of products for the regulated manufacturing industry and, most recently, computerized Manufacturing Execution Systems for the pharmaceutical and medical device industries. For the FY ended 12/31/97, total revenues totalled $296K. Net loss from continuing operations totalled $3.2M. Results are not comparable due to the fiscal year end change from October to December.
BASEA - BASE TEN SYS CL'A'
Exchange: NASDAQ
Last Price: 5 3/4 at 12:51
Change: Up 21/32 (+12.88%)
High: 5 7/8 at 9:27
Low: 5 1/2 at 9:37
Open: 5 7/8
Previous Close: 5 3/32 on 5/5
Volume: 783,500
30-Day Avg. Volume: 95,000
Shares Outstanding: 8,299,000
52-Week High: 16
52-Week Low: 5
Beta: -0.34
Yield: Nil
P/E Ratio: Not Material
EPS: 0.00
RECENT CORPORATE NEWS:
Base Ten Systems Announces Additional Contract with Pharmaceutical Multinational
Business Wire - April 15, 1998 16:46
------------------------------------------------------------------------
TRENTON, N.J.--(BW HealthWire)--April 15, 1998--Base Ten Systems Inc. (Nasdaq: BASEA) Wednesday announced the awarding of another contract by Pharmacia & Upjohn.
This is an additional order for the company's Base Ten ME manufacturing execution system and involves a *******third Pharmacia & Upjohn manufacturing location.
"Base Ten Systems can now proudly point to some***** thirty major pharmaceutical companies who have chosen the company's manufacturing execution system software for installations around the globe," said C. Richard Bagshaw, executive vice president of Base Ten Systems who is responsible for Sales and Solution Services.
Base Ten Systems is a leading provider of innovative software systems to improve quality and productivity in the health care and specialty chemicals markets.
*******************************************************************
Base Ten Reports Results for Interim Reporting Period FlowStream Integration, Product Development Efforts Remain on Target
Business Wire - March 18, 1998 16:45
TRENTON, N.J.--(BUSINESS WIRE)--March 18, 1998--Base Ten Systems Inc. (Nasdaq:BASEA) announced results for the transition period of Nov. 1, 1997 to Dec. 31, 1997.
Continuing to reflect accelerated new products investment and excluding results of its discontinued Government Technology Division operations, Base Ten reported a loss of $3.2 million or $0.39 per share on revenues of $0.3 million for the two-month November-December 1997 accounting "stub" period.
Results for the prior year quarter ended Jan. 31, 1997 showed a loss of $1.7 million or $0.22 per share on revenues of $0.3 million. Including discontinued operations, Base Ten reported a two-month loss of $3.8 million or $0.47 per share compared to a loss of $2.0 million or $0.26 per share in the prior year full quarter.
As a result of the change in fiscal year end to Dec. 31 from Oct. 31, as announced on Jan. 29, 1998, the Company is required to file results for the interim period on Form 10-Q.
"These results are consistent with expectations as we continue to position the Company as the leading provider of manufacturing execution systems for the pharmaceutical, biotechnology, medical device and specialty chemical industries," commented Thomas E. Gardner, co-chairman, president and CEO.
"The recent acquisition of the FlowStream product from Consilium and the release of version 2.3 of BASE10 ME, currently expected in early May, are aimed at providing the target market with both UNIX and Windows NT based MES solutions and fueling our growth," Gardner added. (a)
An audit of the transition period will be conducted in conjunction with the year-end audit by Price Waterhouse. The results for the transition period, as well as subsequent quarterly reports for the remainder of fiscal 1998, will be compared to quarterly results from fiscal 1997, though period end dates will not be comparable due to the fiscal year-end change.
Base Ten Systems is a leading independent supplier of enterprise-wide, integrated manufacturing execution systems (MES) software and services to manufacturers in the pharmaceutical, biotechnology, medical device and specialty chemical industries.
(a) Forward Looking Statements
The foregoing contains "forward looking information" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward looking statements may be identified by the letter "a" ("a") or by such forward looking terminology as "may", "will", "believe", "anticipate", "expect", or similar words or variations thereof.
Such forward looking statements involve certain significant risks and uncertainties, including (1) timely delivery, installation and validation of existing, and future, customer orders for MES products, (2) successful and timely completion of further development of and testing of enhancements to MES products and of the next generation of MES products, and market acceptance thereof, (3) successful standardization of MES products and market acceptance thereof, (4) availability of sufficient qualified technical personnel to further develop, complete, install and support its products, (5) achieving productive collaborative relationships with other technology system integrators, (6) availability on acceptable terms of additional equity and/or debt financing needed for the continued development, marketing and sale of MES products, and (7) successfully competing with other suppliers of MES products, some of whom are significantly larger and with greater resources than the Company, none of the foregoing of which can be assured.
Base Ten Systems Inc. and Subsidiaries
Consolidated Balance Sheets
($000's)
As of As of
Dec. 31, Oct. 31,
1997 1997
---------- ---------
(Unaudited)
(Audited)
ASSETS
Current Assets
Cash $ 9,118 $ 1,502
Accounts Receivable 1,583 1,808
Inventories 321 478
Assets Held for Sale -- 5,338
Other Current Assets 530 566
--------- ---------
Total Current Assets $ 11,552 $ 9,692
Property, Plant and Equipment 4,346 4,305
Receivable From Sale of Assets 2,238 --
Other Assets 6,380 7,220
-------- --------
Total Assets $ 24,516 $ 21,217
======== ========
LIABILITIES & SHAREHOLDERS'
EQUITY
--------------------------
Current Liabilities
Accounts Payable 282 962
Accrued Expenses 5,399 6,005
Current Capital Lease 54 54
-------- --------
Total Current Liabilities 5,735 7,021
Long Term Liabilities
Long Term Debt 15,500 15,500
Capital Lease Obligation 3,416 3,425
Other Long Term Liabilities 245 253
-------- --------
Total Long Term Liabilities 19,161 19,178
Total Liabilities $ 24,896 $ 26,199
Shareholders' Equity
Preferred Stock 9 --
Class A Common Stock 7,829 7,769
Class B Common Stock 445 445
Additional paid-in capital 37,991 29,458
Deficit (46,521) (42,647)
--------- ---------
(247) (4,975)
Foreign Currency Adjustment to
Equity (195) (150)
Valuation Allowance 62 143
--------- ---------
$ (380) $ (4,982)
--------- --------
Total Liabilities & Shareholders'
Equity $ 24,516 $ 21,217
========= ========
Base Ten Systems Inc. and Subsidiaries
Statements of Operations
(Unaudited)
Two Months Ended Three Months Ended
Dec. 31, 1997 Jan. 31, 1997
------------------ ------------------
REVENUE $ 296,000 $ 324,000
COSTS AND EXPENSE
Cost of Revenue 1,371,000 329,000
Product Development 592,000 357,000
Selling, General, and
Administration 1,211,000 982,000
Interest 312,000 362,000
---------------- ------------------
3,486,000 2,030,000
Loss from Continuing Operations (3,190,000) (1,706,000)
Income Tax (Benefit) -- --
---------------- ------------------
Net Loss from Continuing
Operations $(3,190,000) $(1,706,000)
================ ==================
Loss Per Common Share from
Continuing Operations $ (.39) $ (.22)
================= ==================
Net Loss from Discontinued
Operations (684,000) (289,000)
----------------- ------------------
Net Loss Including Discontinued
Operations $(3,874,000) $(1,995,000)
================ ==================
Loss Per Common Share Including
Discontinued Operations (.47) (.26)
================= ==================
Wtd. Avg. Common Shares
Outstanding 8,258,000 7,808,000
----------------- ------------------ |
