CMTX...anyone still have some of this?????
COMTEX Announces Third Quarter Earnings
ALEXANDRIA, Va., May 11 /PRNewswire/ -- COMTEX Scientific Corporation
(OTC Bulletin Board: CMTX) today announced revenues of $1.4 million for its
third fiscal quarter, ended March 31, 1998, a 24% increase from the prior year
third quarter revenues of $1.1 million. COMTEX reported that net income for
the third quarter exceeded $7 thousand compared to net income of less than $6
thousand for the third quarter of the prior year.
For the nine month periods ended March 31, 1998 and 1997, COMTEX revenues
grew 21%, to nearly $3.9 million from $3.2 million, respectively. For the
current nine month period, COMTEX earned net income of $26 thousand versus net
income of $46 thousand for the prior year period. The decrease in net income
reflected in the nine month period results primarily from the Company's
investment in sales, marketing and technical personnel and information
provider content to enhance COMTEX products.
"Our aggregated realtime news products have continued to be well received
by information services resellers -- which has resulted in COMTEX signing 31
new contracts during the first three quarters, compared to 29 contracts for
all of the prior fiscal year," said Charles W. Terry, President and CEO. "Our
operational focus continues to be account development and support, and
investment in the requisite personnel, products and technology," added Mr.
Terry.
Since 1981, COMTEX has pioneered in the aggregation, integration and
syndication of global newswire sources for a wide variety of end-user markets.
Today, COMTEX continues to lead the industry by setting the standard for
comprehensive, compelling, and mission critical, electronically enabled
content for financial and business news and analysis. COMTEX offers
electronic brokerage applications, corporate information services, and both
secure and open Internet sites a single, comprehensive solution for coverage
of breaking, global news. COMTEX is based in Alexandria, Va., and can be
found on the World Wide Web at www.comtexnews.com.
COMTEX
Selected Financial Data
(unaudited)
Three Months Ended Nine Months Ended
March 31, March 31,
1998 1997 1998 1997
Revenues $ 1,365,339 $ 1,100,187 $ 3,890,419$ 3,222,745
Net income (loss) 7,361 5,610 25,719 46,474
Net income per share:
Basic $ .00 $ .00 $ .00 $ .01
Diluted $ .00 $ .00 $ .00 $ .01
Weighted avg. # shares:
Basic 7,859,417 7,858,417 7,858,749 7,858,417
Diluted 10,122,563 7,858,417 9,995,871 7,858,417
SOURCE COMTEX Scientific Corporation
CO: COMTEX Scientific Corporation
ST: Virginia
IN: CPR PUB
SU: ERN
05/11/98 09:41 EDT prnewswire.com
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