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Microcap & Penny Stocks : cube and mpeg vs. tri-vision and v-chip as an investment -- Ignore unavailable to you. Want to Upgrade?

To: stak who wrote (71)	11/28/1998 12:52:00 AM
From: stak	Read Replies (1) \| Respond to of 75

TRI-VISION INTERNATIONAL LTD. TRI-VISION REPORTS SECOND QUARTER RESULTS Article #: 25224 Date: 11/27/98 4:19:04 PM Dateline: TORONTO, ONTARIO Stock Symbol: TVL Wire: ISDN Tri-Vision International Ltd./Ltee today reported its unaudited financial results for the quarter ended September 30, 1998. In the second quarter, the Company has continued to focus on the marketing launch of the V-chip product line. Manufacturing cost of the first 60,000 V-gis(TM) v-chip set-top decoder units is reflected in the second quarter results although sales of these units did not start until the next quarter. The Company reported second quarter revenues of $833,000, derived solely from its traditional product line, compared to $1,983,000 in the second quarter of 1997. Traditional CATV product sales decreased by approximately 50% over the corresponding period in 1997, reflecting an increased corporate focus on the launch of the unique, proprietary V-chip product line. Gross profits for the period increased slightly as a percentage of revenue. Selling, general, administrative and research and development expenses, net of deferrals for product development, increased from $384,000 in the second quarter of 1997 to $596,000 in the second quarter of 1998. The Company realized interest income of $53,000 in the second quarter of 1998 as a result of additional cash provided through the public offering in early April 1998, compared to no interest related item over the same period in 1997. The Company lost $191,000 ($.0039 per share) for the quarter compared to a restated net income of $241,000 ($.0059 per share) for the corresponding period last year, mainly due to lower sales of traditional product lines and increased manufacturing and marketing expenses relating to the V-chip product line. Operating activities used $6,051,000 in the second quarter of 1998 compared to using $266,000 in the corresponding period of 1997. Payment of $1,149,000 accounts payable and accrued liabilities, $1,006,000 of accrued v-chip and other marketing expenses, and production of the initial V-gis(TM) V-chip decoder unit inventory of $3,553,000 represent the majority of these expenditures in the second quarter of 1998. The Company's cash balance as of September 30,1998 amounted to $1,392,000 compared to bank indebtedness of $834,000 a year earlier. The major contributing factor to this decrease in cash was the production of V-chip decoders and related V-gis(TM) test-launch marketing and advertising prepayments. The financial results for the second quarter of 1997 have been restated to conform to the 1998 financial statement presentation. Test Launch of V-gis(TM) V-chip Product Line Continues Tri-Vision's initial test launch of the V-gis(TM) set-top decoder product line continues in the U.S. through three major retailers in the Chicago, Indianapolis and Nashville areas. Ingram Entertainment is currently preparing an analysis of the first segment of the test launch and this should be provided to Tri-Vision in December. Tri-Vision International Ltd./Ltee is a public company founded in 1986 and trades on Canada's Toronto Stock Exchange under the symbol TVL. Tri-Vision Electronics Inc., a wholly-owned subsidiary of Tri-Vision International Ltd./Ltee, holds the exclusive global rights to the patented v-chip technology developed by award-winning Canadian inventor, Tim Collings. For investor or media information, contact Century Communications Corporation at (888) 298-8551 (toll free). Visit the Company Website at tri-vision.ca or e-mail to tri-vision@tri-vision.ca and for information on the V-chip product line visit the V-gis(TM) Website at v-gis.com.