Comtex Reports Third Quarter Fiscal 2006 Financial Results
2006年5月16日 - 7:07AM
PRニュース・ワイアー (英語)
ALEXANDRIA, Va., May 15 /PRNewswire-FirstCall/ -- Comtex News
Network, Inc. (OTC:CMTX) (BULLETIN BOARD: CMTX) , a leading
provider of economically useful electronic real-time news, content
and market alerts, today announced financial results for the
quarter and nine months ended March 31, 2006. Comtex reported
approximately $2 million in revenue for the third quarter of fiscal
2006 compared to $1.9 million for third quarter fiscal 2005. For
the nine months ended March 31, 2006, Comtex reported revenue of
$5.9 million compared to $6 million for the comparative period of
the previous year. The minor increases and decreases in revenue
levels are primarily the result of increased business from certain
clients and business consolidations among other clients. For the
three and nine month periods ended March 31, 2006, Comtex reported
operating losses of ($108,000) and ($166,000), respectively, versus
operating income of $109,000 and $400,000 for the three and nine
months ended March 31, 2005. Comtex reported a net loss of
($125,000), or ($0.01) per share, for third quarter fiscal 2006,
versus net income of $82,000, or $0.01 per share, for third quarter
fiscal 2005. For the nine months ended March 31, 2006 and 2005,
respectively, Comtex reported a net loss of ($247,000), or ($0.02)
per share versus net income of $298,000, or $0.02 per share. The
operating and net losses reported by Comtex for the three and nine
month periods ended March 31, 2006 primarily result from the
effects of charges of approximately $319,000 and $757,000
respectively, from reporting stock-based compensation in accordance
with Statement of Financial Accounting Standard No. 123(R), which
requires the issuance of stock options be accounted for using
specific new regulations. Comtex adopted this standard on its
effective date, July 1, 2005, and therefore the comparative periods
from the prior year do not reflect such charges. For the nine month
periods ended March 31, 2006 and 2005, EBITDA excluding the effects
of stock-based compensation (as defined and explained in the
accompanying note to the table below) decreased to $832,000 from
$905,000. This change is reflective of decreases in gross profit
margins. "Comtex introduced the new 'CSTA(R)Direct' product during
the past quarter and we continue to work to maximize our financial
results while maintaining a focus on new product development and
providing superior, targeted news and financial data products to
all our clients," said Chip Brian, Comtex's President and COO.
About Comtex Comtex (http://www.comtex.com/) provides real-time
news, SmarTrend(R) Alerts and economically useful information to
businesses whose customers need more than just facts. Comtex
customers receive select content from key sources which is further
enhanced with stock tickers and an extended lexicon of relevant
terms. With a specialization in the financial news and content
marketplace, Comtex receives, enhances, combines and filters news
and content received from national and international news bureaus,
agencies and publications, and distributes more than one million
total stories per day. Comtex's state-of-the-art technology
delivers this relevant content and reliable service in real-time.
Comtex (OTC:CMTX) (BULLETIN BOARD: CMTX) has offices in New York
City and Alexandria, Virginia. SmarTrend(R) and CSTA(R) are
registered trademarks of Comtex News Network, Inc. Please Note:
Except for the historical information contained herein, this press
release contains forward-looking statements within the meaning of
Section 21E of the Securities and Exchange Act of 1934, as amended,
that involve a number of risks and uncertainties. These
forward-looking statements may be identified by reference to a
future period by use of forward-looking terminology such as
"anticipate," "expect," "could," "intend," "may" and other words of
a similar nature. These statements involve risks and uncertainties
that could cause actual results to differ materially from those
contemplated herein, including the occurrence of unanticipated
events or circumstances relating to the fact that Comtex is in a
highly competitive industry subject to rapid technological, product
and price changes. Other factors include the possibility that
demand for the Company's products may not occur or continue at
sufficient levels, changing global economic and competitive
conditions, technological risks and other risks and uncertainties,
including those detailed in the Company's filings with the
Securities and Exchange Commission. Comtex undertakes no obligation
to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise. Comtex News
Network, Inc. Selected Financial Data (unaudited) (amounts in
thousands, except per share amounts) Three Months Ended Nine Months
Ended March 31 March 31 2006 2005 2006 2005 Revenues $1,967 $1,927
$5,896 $6,000 Operating (Loss) / Income (108) 109 (166) 400 Net
(Loss) / Income $(125) $82 $(247) $298 Net (Loss) / Earnings Per
Share Basic and Diluted $(0.01) $0.01 $(0.02) $0.02 Weighted Avg. #
Shares: Basic 13,700 13,600 13,633 13,600 Diluted 13,700 14,746
13,633 14,736 Reconciliation to EBITDA (excluding the effects of
stock-based compensation): Net (Loss) / Income $(125) $82 $(247)
$298 Stock-based compensation 319 - 757 - Depreciation &
Amortization 60 147 242 505 Interest/Other Expense 17 27 64 102
Income Taxes - - 16 - EBITDA $271 $256 $832 $905 Please Note:
EBITDA consists of earnings before stock-based compensation,
interest and other expense, interest and other income, income
taxes, depreciation and amortization and impairment charges. EBITDA
is not a term defined by generally accepted accounting principles,
and as a result, our measure of EBITDA might not be comparable to
similarly titled measures used by other companies. However, we
believe that EBITDA is relevant and useful information, which is
often reported and widely used by analysts, investors and other
interested parties in our industry. Accordingly, we are disclosing
this information to permit a more comprehensive analysis of our
operating performance. DATASOURCE: Comtex News Network, Inc.
CONTACT: Amber Gordon of Comtex News Network, Inc.,
+1-703-797-8011, Web site: http://www.comtexnews.com/
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