Alert: News coming on takeover of USTI
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United Systems Technology, Inc. and Subsidiary
Consolidated Statements of Operations
(Unaudited)
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<S> <C> <C> <C> <C>
Three Months Ended Six Months Ended
June 30, June 30,
1998 1997 1998 1997
======== ======== ======== ========
Revenue
Software packages $ 76,983 $ 44,551 $ 124,567 $ 123,054
Installation, training and
customer support 25,693 19,446 45,035 54,477
Maintenance 249,603 257,948 505,838 537,467
Equipment and supplies sales 64,141 39,506 106,716 103,628
Other 1,832 1,709 3,675 3,013
-------- -------- -------- -------
418,252 363,160 785,831 821,639
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Costs and expenses
Salaries 192,324 242,082 399,921 495,262
Other general, administrative and
selling expense 133,229 136,845 248,584 265,699
Depreciation and amortization 31,565 40,469 68,336 80,251
Commissions 6,010 5,618 10,011 14,727
Cost of equipment and supplies sold 39,127 17,434 57,937 50,506
-------- -------- -------- -------
402,255 442,448 784,789 906,445
-------- -------- -------- -------
Income (loss) from operations 15,997 (79,288) 1,042 (84,806)
-------- -------- -------- -------
Nonoperating income (expense)
Interest expense (1,133) (1,529) (2,303) (2,922)
Interest income 2,148 532 3,926 1,025
-------- -------- -------- -------
1,015 (997) 1,623 (1,897)
-------- -------- -------- -------
Net income (loss) $ 17,012 $ (80,285) $ 2,665 $ (86,703)
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Preferred stock dividend requirements (22,690) (22,690) (45,130) (45,130)
-------- -------- -------- -------
Loss available for common stockholders$ (5,678)$(102,975) $ (42,465)$(131,833)
======== ======== ======== =======
Income (loss) per common share $ NIL $ NIL $ NIL $ NIL
======== ======== ======== =======
Weighted average number of common
shares outstanding 43,178,043 43,278,045 43,178,043 43,278,045
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The accompanying notes are an integral part of the financial statements. |
