Comtex Reports Second Quarter Fiscal 2009 Earnings
2009年2月10日 - 10:15PM
PRニュース・ワイアー (英語)
NEW YORK, Feb. 10 /PRNewswire-FirstCall/ -- Comtex News Network,
Inc. (OTC Bulletin Board: CMTX), a leading provider of economically
useful electronic real-time news, content and SmarTrend(R) market
products, today announced financial results for its second fiscal
quarter and the six month period ended December 31, 2008. Comtex
reported $43,000 of operating income and net income of $47,000, or
$0.00 per share, on revenues of $1.6 million for the second quarter
ended December 31, 2008, compared to operating income of $257,000
and net income of $268,000, or $0.02 per share, on revenues of $1.8
million for the three months ended December 31, 2007. The decrease
was primarily due to a reduction in database revenues caused by
industry consolidations and current economic conditions, plus
increased marketing and technical operations costs. For the six
months ended December 31, 2008, Comtex reported $74,000 of
operating income and net income of $72,000, or $0.00 per share, on
revenues of $3.3 million compared to $564,000 of operating income
and net income of $510,000, or $0.03 per share, on revenues of $3.6
million for the six months ended December 31, 2007. The decrease in
net income was primarily due to a reduction in database revenues
caused by industry consolidations coupled with a one time revenue
pick up of $181,000 from prior periods recorded in the six months
ended December 31, 2007. Net income for the period ended December
31, 2008 was also impacted by an increase in marketing and
technical operations costs, offset by the extinguishment of an
accrued liability of $138,000 on October 30, 2008. For the six
months ended December 31, 2008, EBITDA (as defined and explained in
the accompanying note to the table below), excluding the effects of
stock-based compensation, was $167,000 compared to EBITDA of
$607,000 for the six months ended December 31, 2007. The decrease
in EBITDA was due to reduced revenues as discussed above, and
increased expenses mainly in technical operations, sales and
marketing. Chip Brian, Comtex's President and CEO, stated, "During
these challenging economic times, Comtex has thoroughly evaluated
its financial structure and is pleased to be one hundred percent
debt-free. Furthermore, we are strengthening our connections with
customers by improving the value of our products, upgrading our
technology, and expanding our content distribution capabilities."
About Comtex Comtex (http://www.comtex.com/) provides real-time
news, Comtex SmarTrend(R) Alerts and economically useful
information. 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 also provides several
proprietary SmarTrend Alert products to investors, including a
daily stock market letter (Morning Call), selected stock news
(SmarTrend Spotlights), and SmarTrend Alerts (via subscription at
http://www.mysmartrend.com/). Comtex has offices in New York City;
Boston, Massachusetts; and Alexandria, Virginia. SmarTrend(R) is a
registered trademark of Comtex News Network, Inc. FINANCIAL TABLE
FOLLOWS Comtex News Network, Inc. Selected Financial Data
(unaudited / amounts in thousands, except per share amounts) Three
Months Six Months Ended December 31 Ended December 31 2008 2007
2008 2007 Revenues $1,653 $1,800 $3,316 $3,656 Operating Income 43
257 74 564 Net Income $47 $268 $72 $510 Earnings Per Share Basic
and Diluted $0.00 $0.02 $0.00 $0.03 Weighted Avg. # Shares: Basic
15,446 15,294 15,583 15,294 Diluted 15,450 15,463 15,791 15,462
Reconciliation to EBITDA: Net Income $47 $268 $72 $510 Stock-based
compensation 35 - 35 3 Depreciation and Amortization 29 19 58 40
Interest/Other (Income) Expenses, net (6) (12) (11) 49 Income Taxes
1 1 13 5 EBITDA $106 $276 $167 $607 Please Note: EBITDA consists of
earnings before stock-based compensation, debt conversion expense,
interest expense, interest and other income, unrealized and
realized gains (losses) in marketable securities, income taxes, and
depreciation and amortization. EBITDA is not a term defined by U.S.
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.
Also 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.
DATASOURCE: Comtex News Network, Inc. CONTACT: Amber Gordon of
Comtex News Network, Inc., +1-703-797-8011, Web Site:
http://www.comtex.com/
Copyright