 11-23-2005, 09:52 AM | #1 (permalink) |
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| A Fisherman's Tale
Quote: FREMONT, Calif., Nov. 16 /PRNewswire-FirstCall/ -- AltiGen Communications,
Inc. (Nasdaq: ATGN), a leading provider of next generation IP-PBX phone
systems today reported its financial results for the Company's fourth quarter
and full fiscal year ended September 30, 2005.
Revenue for the fourth quarter of fiscal 2005 was $4.2 million, compared
to $4.0 million a year ago and $4.1 million in the third quarter of fiscal
2005. Net profit for the quarter was $313,000 or $0.02 per diluted share,
compared to $136,000 or $0.01 per diluted share a year ago, and net loss of
$96,000 or $0.01 per share in the previous quarter.
Revenue for the full 2005 fiscal year was $15.4 million compared to $14.8
million in 2004. Net loss for fiscal 2005 was $299,000 or $0.02 per share
compared to net profit of $28,000 or $0.00 per share for 2004.
"We are pleased by the progress that AltiGen has made this fiscal year,
despite the temporary slowdown in business during the March period," said
Gilbert Hu, Chief Executive Officer of AltiGen Communications. "Our results
reflect the success of AltiGen's product portfolio. In particular, our
AltiContact Manager (ACM) call center system has performed well in the market,
growing approximately 49% this past year. The ACM has been recognized by
influential industry media with several awards this year, including "Best of
Show" at CMP's Call Center Demo and Conference and "2004 Product of the Year"
awards by Technology Marketing Corporation (TMC (R))'s INTERNET TELEPHONY (R)
Magazine and TMC's Customer Inter@ction Solutions(R) Magazine. Growth of our
IP telephones has been robust, and our recently introduced IP 710 phone has
rapidly gained market acceptance. This phone underscores the strength of our
R&D organization and its ability to develop industry leading technology.
"We continue to have success with our banking vertical market strategy.
During this past year, we expanded our business into more regional banks and
added more than 50 installations. Overall, we are very encouraged by the
positive trends in our key targeted markets. In addition, AltiGen's robust
technology offerings combined with our strong reseller and distribution
networks reinforce the confidence we have in our ability to take our company
to the next level," Mr. Hu concluded.
Phil McDermott, AltiGen's Chief Financial Officer commented, "We are
pleased with the profitable growth delivered during the fourth quarter.
Looking ahead, based on current business trends, we believe our profitable
growth should continue in 2006. With a solid financial position of $9.4
million in cash and short-term investments, which increased over the prior
quarter, we believe AltiGen is well-positioned to achieve long-term success." | |
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