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Technology Stocks : Fastcomm FSCX (6 1/8), base now complete. Big Upside. -- Ignore unavailable to you. Want to Upgrade?

To: James Murray who wrote (688)	8/13/1998 7:43:00 PM
From: Bill	Respond to of 802

You mean this announcement? FastComm Reports Fiscal Year 1998 Results Business Wire - August 13, 1998 18:35 STERLING, Va.--(BUSINESS WIRE)--Aug. 13, 1998--FastComm Communications Corp. today reported financial results for the fiscal year ended April 30, 1998. Revenue was $8.9 million, down 21% from the $11.2 million for fiscal year 1997. Revenue for the fourth quarter ended April 30, 1998 was $3.3 million, down 3% from the 4th quarter of the prior fiscal year and up 59% sequentially from the third quarter of fiscal year 1998. The net loss for FY 1998 was $9.1 million ($.87 per share), compared to the FY 1997 loss of $595,000 ($.06 per share). The Company currently operates its business under the protection of a Chapter 11 petition of the Bankruptcy Code. A reorganization plan will be filed as soon as practical. For more information consult the Company's SEC filings available on the World Wide Web at www.sec.gov/edgarhp.htm. The Company's 10-K was filed electronically earlier today and will be accessible at the above listed web site address shortly. Condensed Statements; thousands of dollars, except per share data Statement of Operations (audited) Fiscal year ended April 30, April 30, 1998 1997 --------------------------- Revenues $8,907 $11,163 Expenses Cost of sales 5,441 4,737 Selling, general and administrative 7,622 4,822 Research and development 2,255 1,967 Reserve for litigation settlement 1,196 -- Depreciation and amortization 611 338 In process research and development 0 75 --------------------------- Loss from operations (8,218) (776) Imputed interest on convertible debentures (550) -- Other income/expense (321) 181 --------------------------- Net loss ($9,089) ($595) --------------------------- --------------------------- Loss per share Primary ($0.87) ($0.06) --------------------------- ---------------------------