I thought you might be interested in this, I found this on another thread:
FOR IMMEDIATE RELEASE: February 23, 1999
CONTACT: Denis Marchand
Vice President of Finance & Administration
Access Solutions International, Inc.
401-295-2691
ACCESS SOLUTIONS REPORTS SECOND QUARTER RESULTS
NORTH KINGSTOWN, R.I.—Access Solutions International, Inc. (OTC EBB:
ASIC), announced today the unaudited results for the company's second
quarter ended December 31, 1998.
For the most recent quarter, the company posted a net loss of approximately
$105,534 or $0.03 per share of common stock (3,963,940 weighted average
common shares outstanding) on net sales of $223,202 versus a net loss of
$290,206 or $0.07 per share of common stock (3,963,940 weighted average
common shares outstanding) on net sales of $549,676 for the comparable
quarter last year. For the six months ending December 31,1998, the company
posted a net loss of $402,693 or $0.10 per share of common stock (3,963,940
weighted average common shares outstanding) on net sales of $437,780
versus a net loss of $991,378 or $0.25 per share of common stock (3,963,940
weighted average common shares outstanding) on net sales of $874,732 for
the six months ending December 31, 1997.
The loss for the quarter included a nonrecurring loss for write-downs related to
disposal of fixed assets in the amount of $59,275. The company's operations
for the quarter ended December 31, 1998 resulted in a loss of approximately
$46,259 before the nonrecurring loss for write-downs.
Robert H. Stone, president and CEO of the Company commented: "We have
continued to reduce our operating expenses and are very close to reaching
profitability. We have narrowed our operating loss from $154,499 last quarter to
only $46,259 this quarter. I expect us to improve upon that again in the quarter
ending March 31, 1999."
Revenues decreased 59% from $549,676 for the second quarter of Fiscal
1998 to $223,202 for the second quarter of Fiscal 1999 due to a large system
sale in the Fiscal 1998 quarter. Operating expenses decreased 68% from
$732,615 for the second quarter of Fiscal 1998 to $226,189 for the recent
second quarter.
Access Solutions International, Inc. designs, develops, assembles and markets
mainframe information storage and retrieval systems, including both software
and hardware, for large companies.
NOTE: Any statements released by Access Solutions
International, Inc. that are forward looking are made pursuant to
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Editors and investors are cautioned that
forward-looking statements involve risk and uncertainties, which
may affect the company's business prospects and performance.
This includes economic, competitive, governmental, technological
and other factors discussed in the company's filings with the SEC
on forms 10-KSB and 10-QSB. |
