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Technology Stocks : Racom Systems (RCOM) -- Ignore unavailable to you. Want to Upgrade?

To: djduncan who wrote (259)	8/14/1998 5:39:00 PM
From: Gutterball	Read Replies (2) \| Respond to of 468

Racom Reports 1998 Second Quarter Results ====================================================================== DENVER--(BUSINESS WIRE)--Aug. 14, 1998--Racom Systems, Inc. (NASDAQ:RCOM), a provider of contactless smart card solutions reported its unaudited financial results with a net loss of $231,057 or ($.02) per share on revenues of $572,783 for the three months ended June 30, 1998, and a net loss of $52,499 or ($.00) per share on revenues of $1,637,288 for the six months ended June 30, 1998. These results compare to a net loss of $762,969 or ($.06) per share on revenues of $336,815 for the corresponding quarter in 1997, and a net loss of $1,593,130 or ($.13) per share on revenues of $608,649 during the six month period ended June 30, 1997. "We are encouraged by the steady increase of smart card programs being introduced domestically," said Arthur Rancis, President and CEO of Racom Systems. "Racom's improving financials are a reflection of a more positive market environment, as well as an endorsement of our product line," Rancis continued. Racom's revenue historically has been generated primarily through fee-based systems and development projects, sales of its smart card products and selective licensing of its technology. Racom is now focusing its efforts on providing automated transaction solutions for distributed network environments through its high-value hardware, application software and services. Racom Systems, Inc., headquartered in Denver, Colorado, develops and markets smart card-based systems that automate transactions for electronic commerce, information technology, physical and logical access control and industrial automation. Racom's system applications are designed to deliver solutions that provide secure, convenient and personalized access to money, information, property, and services. Investors should carefully consider the preceding information before making an investment in Racom Stock. No assurance can be given that the future results covered by the forward-looking statements will be achieved. For further information about Racom, its technology and products, contact Racom at racom.com, telephone (303) 771-2077, or fax (303) 771-4708.