ACIT running on this news.....
ACI REPORTS RECORD FIRST QUARTER REVENUES
MINNEAPOLIS, April 14 /PRNewswire/ -- ACI Telecentrics, Inc. (Nasdaq: ACIT) today announced record first quarter revenues and the best
operating and net income results in 7 quarters.
Revenues for the first quarter ending March 31, 1999, increased 32.9% to a record $4,688,767 compared to $3,528,911 reported in the first
quarter of 1998. Net income increased by $366,216 to $122,118, or $0.02 per share, compared to a loss of $244,098 or $0.04 per share in
the prior year quarter. Operating income for the first quarter of 1999 improved by $595,406 to $201,440 (4.3% of revenues) compared to an
operating loss of $393,966 (11.2% of revenues) in the first quarter of 1998.
Rick Diamond, ACI's Chief Operating Officer said, "For the last two quarters, we have told our shareholders that ACI has put in place the right
strategy, acquired the right clients and cut expenses in the right places. We believed we had set the course for turning around our business
and we are pleased to announce these results. It is certainly gratifying to see that the changes we made within the organization have put the
company back on the path of successes to which we had become accustomed."
Commenting on the first quarter results, Gary Cohen, ACI's President, stated, "We are very pleased that all areas of our financial performance
improved in the first quarter. We had substantial revenue growth, in fact the highest quarterly revenues of any quarter in our history, and
positive operating and net income for the first time in seven (7) quarters. In addition, we reduced SG&A expenses both as a percent of
revenue (38.6% of revenue in the first quarter of 1999 compared to 54.5% of revenue in the first quarter of 1998) and in real dollars. SG&A
expenses were reduced by nearly $100,000 when compared to the fourth quarter of 1998."
Cohen also stated, "Our client diversity and stabilization of business has not only been instrumental in producing these first quarter results, but
is indicative that we have laid the proper foundation that should us allow to maintain this pace for the rest of the year. With focus on both
elimination of unnecessary expenses, and improved performance throughout all areas of our company, we have been able to deliver the level
of services our clients value, while still delivering profitability to the bottom line."
The forward-looking statements contained in this press release are subject to the risks and uncertainties that could cause actual results to
differ materially from those expressed or implied by such statements. Client demand is extremely volatile in the Company's business and may
decrease notwithstanding the Company's efforts to diversify and stabilize its client base. In addition, if the Company's growth continues, the
Company may not be able to hire all of the necessary personnel in the most cost-efficient manner or be able to maintain its lower level of
SG&A expenses if client demand continues to grow. There is also no assurance that client demand will fulfill expectations based on current
and anticipated customer orders, that business will be generated from new customers at anticipated levels, that further cost reductions will
continue to be realized, or that the Company will be able to maintain profitability in 1999.
ACI Telecentrics, Inc. provides outbound teleservices to clients primarily in the telecommunications, insurance, financial services and publishing
industries through nine call centers in the Midwest. The company is traded on the national over the counter ) 5, 868
INCOME (LOSS) BEFORE INCOME
TAXES 196,918 (388,098)
INCOME TAX EXPENSE (BENEFIT ) 74,800 (144,000)
NET INCOME (LOSS) $122,118 $(244,098)
Basic and diluted net income
(loss) per share $.02 $(.04)
Shares used in computing net
income (loss) per share 5,742,434 5,714,778
SOURCE ACI Telecentrics, Inc.
4/14/99 /CONTACT: Gary B. Cohen,
President-CFO of ACI Telecentrics, Inc., 612-928-4700, fax
612-928-4701/
/Web site: acitel.com (ACIT)
CO: ACI Telecentrics, Inc. ST: Minnesota IN: TLS SU: ERN |
