CNHC China Health Management Corp New (PK)

CNH Holdings Company dba Cistera Networks (OTCBB:CNHC), a leading provider of advanced IP phone platforms and application engines to support Enterprise Voice over Internet Protocol (VoIP), announced that it filed its Form 10QSB with the SEC on August 15, reporting results for the first quarter of FY 2006. Revenues for the first quarter of fiscal year 2006, ending June 30 were $613,269 compared to $364,043 for the same period in the prior fiscal year, representing 68.5 percent year over year growth. Sequentially, quarterly revenues increased 114 percent over the $286,167 reported for the quarter ended March 31, 2005. Gross profit for the first quarter FY 2006 was $502,653 or 82 percent of revenues, as compared to $292,073, or 80 percent of revenues for the first quarter of FY 2005. Total expenses for the quarter were $616,545 in FY 2006 and $535,123 FY 2005. The company reported that its net loss narrowed to $138,179 for the quarter. At June 30, 2005, the company had cash, cash equivalents and short-term marketable securities of $329,183, as compared to $38,632 at March 31, 2005. Accounts receivable increased to $672,227 as compared to $359,123 at March 31, 2005. Deferred revenue increased to $216,758 from $103,777 at March 31, 2005. Q1 FY 2006 Key Achievements -- Revenues for the quarter increased 68.5 percent year over year and by 114 percent quarter over quarter. -- Gross Margins for the quarter were 82 percent. -- During the quarter, shipments of the company's Cistera ConvergenceServer(TM) systems in North America exceeded 300 and the customer list surpassed 125 paying customers. -- The company continued to demonstrate strong traction in its core vertical markets including new installations at Advanced Financial Services and BancFirst in the financial services and retail banking vertical. In the education vertical, the company signed and installed new customers including, Ann Arbor Independent School District (ISD), Birdville, TX ISD, Corpus Christi ISD, Clarke County Schools, Trussville City Public Schools, Denton ISD, DeVry University, Trinity University and Georgia Perimeter College. The company also closed customer transactions in the healthcare vertical, including Spartanburg Regional Healthcare System, and in the government sector, with the City of Wilmington and Jackson County, OH. -- Cistera Networks successfully navigated a market transition whereby larger enterprises are implementing IPT and Enterprise VoIP and installed one of its largest deployments to date of over 6,500 IP Phone handsets. During the quarter, more than five transactions were commitments from customers to install in excess of 2,000 IPT handsets. -- As part of a corporate restructuring effort, CNH Holdings Company acquired XBridge Software, Inc., and the ownership of the intellectual property upon which its products are based. -- A. Katrina Roche, a highly accomplished business executive with 20 years of experience in building and running global operations was named Chief Executive Officer. Subsequent to the end of the quarter, the company extended its product set with the release of the newest appliance in the Cistera product line, the ZoneController(TM), which enables IP phone systems to work with existing or newly installed overhead speakers to create a unified paging system. The company also announced preparations for the launch of international product sales. "During a period when the company's main focus is on building a channel rather than on direct sales efforts, I am very pleased at the revenue growth reported for this quarter. While we continue to be focused on the longer-term objective of growing our channel so that we can deliver stronger long-term sales growth, our revenue attainment makes a strong statement in support of the large and emerging market for IP telephony and Enterprise VoIP," stated A. Katrina Roche, Chief Executive Officer. "While the market demand in this emerging market remains relatively unpredictable, we are particularly proud that we were able to show a year over year increase of 68.5% in revenues with only a 15% increase in expenses, as this reflects the success of the company's efforts to control costs while growing our business." About CNH Holdings Company (dba: Cistera Networks) Cistera Networks designs, develops and markets XML-based application appliances utilized in IP Communications environments. The Cistera ConvergenceServer(TM) combined with a suite of advanced application engines and applications, enables the integration of voice, video and data into the network infrastructure (www.cistera.com). This release may be deemed to contain forward-looking statements that are subject to the safe harbor provisions of the Private Litigation Reform Act of 1995. These forward-looking statements include, among other things, statements regarding future events and the future financial performance of CNH Holdings Company that involve risks and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results. Readers are referred to the documents filed by CNH Holdings Company with the SEC, specifically the most recent reports on Form 10-K and 10-Q, each as it may be amended from time to time, which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements.