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Strategies & Market Trends : Joe Copia's daytrades/investments and thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Joe Copia who wrote (13628)	3/23/1999 1:21:00 PM
From: Bidder	Read Replies (1) \| Respond to of 25711

Could I please get some buying on this to help improve my position? TIA. Company expects to be profitable soon! 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. # # # Send mail to Webmaster.com with questions or comments about this web site. Last modified: February 23, 1999 ------ Previous \| Previous \| ------ \| Edit your message \|