Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Gutterball who wrote (373)	11/17/1998 11:52:00 AM
From: Gutterball	Respond to of 468

Racom Announces Results for '98 Third Quarter, Nine Months Company Incurs Restructuring Charges, One-Time Write-Offs as It Realigns Business DENVER--(BUSINESS WIRE)--Nov. 16, 1998--Racom Systems Inc. (Nasdaq:RCOM - news), a leading provider of contactless smart card technology solutions, today announced results for its third quarter and nine months ended Sept. 30, 1998. Revenues for the quarter were $21,202, compared to $69,218 for the third quarter of 1997. Net income for the period was a loss of $885,883, or seven cents per share, versus a loss of $791,701, or six cents per share, one year earlier. For the nine-month reporting period, revenues increased 145 percent to $1.7 million in 1998, compared to revenues of $677,867 for the same nine-month period of 1997. Net income for the first nine months of 1998 was a loss of $938,382, or seven cents per share, an improvement of 61 percent over a loss of $2.4 million, or 19 cents per share, reported for the comparable period in 1997. ''While revenue for the third quarter was behind plan, we expect development and licensing fees, along with smart card product sales, to pick up in the fourth quarter and beyond,'' explained Art Rancis, president and chief executive officer. ''We have taken significant measures to reduce and realign staff and cut expenses where prudent, as reflected in higher operating expenses for the third quarter. These actions were necessary to streamline and refocus the business.''

To: Gutterball who wrote (373)	11/17/1998 11:56:00 AM
From: Gutterball	Read Replies (1) \| Respond to of 468

Racom 3rd Quarter Results In Thousands (except EPS and shares outstanding) Three months ended Nine months ended September 30 September 30 1998 1997 1998 1997 Revenues $21 $69 $1,658 $678 Cost of Revenues (26) (74) (102) (318) Gross Margin (5) (5) 1,556 360 Operating Expenses (893) (808) (2,541) (2,606) Other Income/Expense 12 21 47 (139) Net loss (886) (792) (938) (2,385) Net loss per share (.07) (.06) (.07) (.19) Wtd avg. shs o/s 13,442,532 12,633,643 13,359,455 12,633,643 NOTE: Full name of company is Racom Systems Inc. DENVER, Nov 16 (Reuters) -