MTMC news:
This one had a crazy run recently, it looks like
a -1/32 open so far, shouldn't this one be running?
(COMTEX) A: Micros-To-Mainframes, Inc. Reports Third Quarter & Nine MA: Micros-To-Mainframes, Inc. Reports Third Quarter & Nine Month Results
VALLEY COTTAGE, N.Y. (Feb. 12) 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,
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.
"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM
ACT OF 1995: The statements contained in this release which are not
historical facts are forward-looking statements that are subject to
risks and uncertainties that could cause actual results to differ
materially from those set forth in or implied by forward-looking
statements. These risks and uncertainties include the Company's entry
into new commercial businesses, the risk of obtaining financing, and
other risks described in the Company's Securities and Exchange
Commission filings.
-0- flb/ny*
CONTACT: Micros-to-Mainframes, Inc., Valley Cottage
Steven H. Rothman
Phone: 914/268-5000
Fax: 914/267-3785
Email: stever@mtm.com
KEYWORD: NEW YORK
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS COMED EARNINGS Today's News
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