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BW1009 FEB 12,1999 3:04 PACIFIC 06:04 EASTERN
( BW)(NY-MICROS-TO-MAINFRAMES)(MTMC) Micros-To-Mainframes, Inc. Reports Third Quarter & Nine Month Results
Business Editors
VALLEY COTTAGE, N.Y.--(BUSINESS WIRE)--Feb. 12, 1999--
-Third Quarter Earnings Increase 84% - EPS $.03 vs. $.02
-Nine Month Earnings Increase 68% - EPS $.13 vs. $.07
-Record Nine Month ATG Service Revenue of $14,755,000 - 39% increase
-Third Quarter Revenue $17,313,000 - 9% increase
-E-Commerce Site Released - www.orderpc.com
Micros-To-Mainframes, Inc. ("MTM") (NASDAQ:MTMC), a single source provider of advanced technology solutions, including design and consulting services, communications services and products, Internet/Intranet development services, and network management services, today announced unaudited financial results for the third quarter and nine months ended December 31, 1998 (fiscal 1999).
The Company had net income for the nine month period ended December 31, 1998 (the "1999 nine month period") of approximately $557,000 or $.13 per share as compared to $332,000 or $.07 per share for the comparable 1998 period; and $135,000 or $.03 per share for the 1999 third quarter as compared to $73,000 or $.02 per share for the comparable quarter in the prior fiscal year. This gain was attributable to the increase in higher margin service related sales. There was an increase in services of 39% in the 1999 nine months and 14% in the third quarter, as compared to last year's comparable period.
Net sales were approximately $49,451,000 for the nine months and $17,313,000 for the third quarter, as compared to $50,749,000 for the nine months and $15,835,000 for the third quarter of the prior year.
Steven Rothman, President and CEO, commented, "We are extremely satisfied with our third quarter and nine month results. ATG (Advanced Technology Group) consulting and service revenue has grown by 39%. MTM has continued to advance its position in high-end services such as: Internet/Intranet, security and firewall technology, network management and diagnostic services. The demand for our technology services continues to grow and we continue to add experienced technical engineers and consultants to our staff. We have moved even closer to our forecast of $21,000,000 of service related business for fiscal 1999. We are very excited about our e-commerce site, www.orderpc.com, this should prove to add another dimension to our offerings as a 'total solution provider.'"
Howard Pavony, Chairman, also commented, "I am very pleased that MTM's customers have continued to engage us in a broader and more complex set of consulting services. MTM's philosophy of providing end-to-end consulting services has proven to be to very attractive to our existing customers and continues to bring important new customers and new opportunities to us consistently. I look forward to expanding and growing our consulting practice in a very positive direction quarter to quarter."
Steven Rothman concluded, "MTM's financial position continues to grow stronger, with shareholders' equity increasing to $13,056,000, almost no debt, and a large cash position. We look forward to a stronger per share stock price in order to accelerate our business plan of growing by acquisition/merger."
Micros-To-Mainframes is a premier provider of network analysis & diagnostics, management, architecture, design, implementation and support services serving the New York Tri-State area since 1986. Micros-To-Mainframes' practices in Network Analysis, Network & Systems Management, Internet Services, IT Consulting, Data & Network Security, Network Infrastructure Engineering, Integrated Communications, and Enterprise LifeCycle Managed Services create a comprehensive computer and communication services suite. The Company maintains sales, technology labs, help desk, network management operation centers, training and service facilities in Valley Cottage, New York, New York City, and Connecticut. Micros-To-Mainframes is an authorized reseller of Intel Corp (NASDAQ:INTC), IBM (NYSE:IBM), Dell Computer (NASDAQ:DELL), Compaq Computer (NYSE:CPQ), Hewlett Packard (NYSE:HWP), Cisco Systems (NASDAQ:CSCO), Citrix (NASDAQ:CTXS), Axent Technologies (NASDAQ:AXNT), Microsoft (NASDAQ:MSFT), PSINet (NASDAQ:PSIX), and Novell (NASDAQ:NOVL). For more information visit our web sites at www.mtm.com, www.orderpc.com and www.pivottech.com. |
