Business Editors/Hi-Tech Writers
MOUNT LAUREL, N.J.--(BUSINESS WIRE)--Aug. 27, 2001
Ulticom, Inc. (NASDAQ:ULCM) announced for the second quarter of fiscal year 2001, ended July 31, 2001, record sales of $17,926,000, an increase of 69% over sales of $10,591,000 in the second quarter of fiscal 2000.
The Company posted net income growth of 145%, to $4,199,000 ($0.10 per diluted share), compared with $1,716,000 ($0.04 per diluted share) for the second quarter of fiscal 2000.
Shawn Osborne, President and CEO of Ulticom stated, "Ulticom has achieved record results in a very difficult environment. Our business continued to grow by constantly enhancing our best-in-class products to meet the needs of our high value customers, maintaining a disciplined operational approach, and capitalizing on emerging markets for multimedia wireless and packet softswitching services."
The Company ended the quarter with cash and cash equivalents and short-term investments of $215,517,000, working capital of $205,268,000, total assets of $243,206,000, and stockholders' equity of $217,812,000, all of which represent record levels.
Financial highlights at and for the six and three-month periods ended July 31, 2001 and prior year comparisons are as follows:
Financial Highlights (In thousands, except per share data,) (Unaudited) Six months ended Three months ended July 31, July 31, July 31, July 31, 2000 2001 2000 2001 Sales $19,417 $34,959 $10,591 $17,926 Cost of Sales 6,443 11,009 3,496 5,593 ------- ------- ------- ------- Gross Profit 12,974 23,950 7,095 12,333 Operating Expenses: Research and development 4,285 7,062 2,325 3,621 Selling, general and administrative 5,636 8,823 3,050 4,481 ------- ------- ------- ------- Income from operations 3,053 8,065 1,720 4,231 Interest and other income, net 1,263 5,262 1,047 2,466 ------- ------- ------- ------- Income before income tax provision 4,316 13,327 2,767 6,697 Income tax provision 1,639 4,984 1,051 2,498 ------- ------- ------- ------- Net income $ 2,677 $ 8,343 $ 1,716 $ 4,199 ======= ======= ======= ======= Earnings per share: Basic $ .07 $ .20 $ .05 $ .10 ======= ======= ======= ======= Diluted $ .07 $ .19 $ .04 $ .10 ======= ======= ======= ======= Weighted average shares: Basic 35,886 40,751 37,614 40,932 ======= ======= ======= ======= Diluted 38,743 43,529 40,721 43,558 ======= ======= ======= ======= Balance Sheets (In thousands) Jan. 31, July 31, 2001 2001 (unaudited) ASSETS CURRENT ASSETS: Cash and cash equivalents $183,303 $179,410 Short-term investments 25,577 36,107 Accounts receivable, net 7,756 9,917 Due from related parties 1,012 1,619 Inventories 1,625 1,174 Prepaid expenses and other current assets 767 1,968 -------- -------- TOTAL CURRENT ASSETS 220,040 230,195 PROPERTY AND EQUIPMENT, net 5,728 6,945 INVESTMENTS 5,500 5,550 OTHER ASSETS 919 516 -------- -------- TOTAL ASSETS $232,187 $243,206 ======== ======== LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable and accrued expenses $ 14,023 $ 18,393 Deferred revenue 10,648 6,534 -------- -------- TOTAL CURRENT LIABILITIES 24,671 24,927 -------- -------- LONG-TERM LIABILITIES 467 467 -------- -------- STOCKHOLDERS' EQUITY 207,049 217,812 -------- -------- TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $232,187 $243,206 ======== ========
About Ulticom:
Ulticom, Inc. provides service enabling software for wireless, wireline and Internet communications in Intelligent, Converged and Programmable Networks under the Signalware and Nexworx brands. Ulticom's products are used by the telecommunication industry's leading equipment and service providers worldwide.
Traded on NASDAQ as ULCM, Ulticom is headquartered in Mount Laurel, New Jersey with additional offices in Texas and France.
Certain statements concerning Ulticom's future prospects are "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. There can be no assurances that future results will be achieved, and actual results could differ materially from forecasts and estimates.
Important factors that could cause actual results to differ materially from forecasts and estimates include: risks associated with Ulticom's dependence on a limited number of products; risks associated with new product introductions; risks associated with Ulticom's dependence on a limited number of key customers; risks associated with rapidly changing technology and the signaling system No.7 environment; risks associated with the integration of Ulticom's products with those of equipment manufacturers and application developers; risks associated with significant international sales; risks associated with changes in the competitive or regulatory environment in which Ulticom operates; volatility of macroeconomic and industry conditions; and other risks described in filings with the Securities and Exchange Commission.
These risks and uncertainties, as well as others, are discussed in greater detail in the filings of Ulticom with the Securities and Exchange Commission. Ulticom makes no commitment to revise or update any forward-looking statements in order to reflect events or circumstances after the date any such statement is made.
Signalware, Nexworx, Ultimate Call Control, Ultimate Service Control and Programmable Network are trademarks or registered trademarks of Ulticom, Inc.
Wrestling Fans to Shop Online With Cybermoola Prepaid E-Money
Instead of Credit Cards
SAN FRANCISCO, Sept. 19 /PRNewswire/ --
World Wrestling Federation Entertainment Inc. (Nasdaq: WWFE) has agreed to accept Cybermoola(TM) at WWFshopzone.com, providing WWF fans with a way to buy their favorite WWF(R) clothing and gear online without a credit card.
"WWF fans are Web savvy consumers from every part of the American spectrum," said Lee Barstow, vice president, WWF new media sales and marketing. "The ability to purchase WWF products without using a credit card is exciting for WWF fans. It's perfect for fans who don't want to use their credit cards online, those who don't want to add to credit card balances and those who don't use credit cards at all."
"Cybermoola Inc. is proud to be partnering with WWF," said Eric Freeman, CEO of Cybermoola Inc. "WWFShopzone.com is a strong e-commerce outlet offering exciting gear that appeals to a broad spectrum of consumers. Making those products available with Cybermoola introduces a new demographic audience to both companies."
Cybermoola, the original prepaid Internet shopping card, has partnered with a variety of leading e-commerce sites. Customers who use Cybermoola can shop online for a variety of products, including athletic footwear, music, apparel, electronics, cosmetics and more, through other retailers. A consumer purchasing Cybermoola at a brick-and-mortar location enters the card's Unique Serial Number at www.cybermoola.com , and uses a simple online account to shop at any site accepting Cybermoola as a payment option.
Cybermoola is now on sale at over 200 locations in California, Texas, New Jersey, New York, Pennsylvania, Connecticut and Delaware.
About the World Wrestling Federation
World Wrestling Federation Entertainment Inc. is headquartered in Stamford, Connecticut, with sales offices in New York City, Chicago and Toronto. We are an integrated media and entertainment company, principally engaged in the development, production and marketing of television programming, pay-per-view programming and live events, and the licensing and sale of branded consumer products featuring our highly successful World Wrestling Federation (WWF) brand. The Company is an equal partner with NBC for the XFL, a new professional football league scheduled to kickoff in February, 2001. WWFE currently has 300 full-time employees and has exclusive contracts with approximately 125 performers. The Company can be found on NASDAQ under the symbol WWFE and online at WWF.com .
About Cybermoola Inc.
Launched in September 1999, San Francisco-based Cybermoola Inc. is a pioneer in cash-based payment for shopping on the Internet. Cybermoola is prepaid e-money that enables shoppers to purchase merchandise online without a credit card or bank account. It is the first prepaid Internet cash card to be sold in-store at a major national retail chain. This safe and easy-to-use payment option helps e-tailers and retailers transform online and offline consumer traffic into actual online sales. Customers can use Cybermoola online at a complete range of web retailers to purchase clothing, music, books, sporting goods, cosmetics and more. In addition to its in-store availability, Cybermoola can be purchased online at www.cybermoola.com .
