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To: Redhook who wrote (71561)	4/27/1999 12:05:00 PM
From: kendall harmon	Respond to of 119973

CTSC hit an all time high not long ago Monday April 26, 8:32 am Eastern Time Company Press Release Cellular Technical Services Reports Operating Profits For the First Quarter of 1999 SEATTLE--(BUSINESS WIRE)--April 26, 1999--Cellular Technical Services Company, Inc. (Nasdaq/NMS:CTSC - news; ''CTS''), a leading provider of real-time information management systems for the wireless communications industry, today reported financial results for the first quarter of 1999. Total revenues were $2.8 million, compared with $3.4 million in the prior-year period. Net income for the period was $0.5 million, or $0.23 per share, compared with a net loss of ($1.8) million, or ($0.78) per share, in the first quarter of 1998. ''Our return to profitability is a significant milestone for CTS.'' Joyce Jones, CTS Chief Operating Officer, said. ''Not only did CTS show a profit in the first quarter, but cash flow exceeded $0.9 million, compared with $34,000 and $0.5 million in the third and fourth quarters of 1998, respectively. Although revenues decreased by $0.6 million compared to the prior-year period, this was more than offset by nearly $3 million that resulted from a combination of gross margin improvements, due to a more favorable revenue mix in the first quarter of 1999, and the reductions in expenses that resulted from the 1998 restructuring plan. These results are the continuation of the positive financial trend begun late in 1998, which we anticipate will continue.'' Jones added, ''Since we reached our goal of returning to profitability, identifying new opportunities to use the Company's expertise in different ways is a top priority. We are pursuing alliances with those in the industry who share our commitment to customers and to achieving long-term financial success. Additionally, our objective is to grow CTS to add value for our shareholders and we are currently building cash reserves so we can selectively choose the appropriate relationships to achieve this objective.''