Press Release Source: Statmon Technologies Corp.
Statmon Technologies Reports Strong First Quarter Sales & Improved Operating Results; Forecasts Increased Sales & Profitable Operations for 2009 Fiscal Year
Monday August 18, 9:00 am ET
CHICAGO--(BUSINESS WIRE)--Statmon Technologies Corp. (OTCBB:STCA - News), which is a wireless and fiber infrastructure network management solution provider, recently filed its Form10-Q report with the SEC for the three months ended June 30, 2008. The Company reported revenue of $935,475 for the first quarter of its 2009 fiscal year, an increase of 33% over the prior year period, and an operating loss of $377,157, which was 31% less than in the first quarter of fiscal 2008. Gross profit was 87% of revenue for the three months ended June 30, 2008 compared to 82% in the same period last year. The net loss for the most recent quarter was $715,936, an improvement of 61% compared to the $1,842,014 loss in the same period last year. The basic and diluted net loss per share narrowed to ($0.03) for the three months ended June 30, 2008 compared to ($0.12) in the first fiscal quarter of 2008.
Total assets at June 30, 2008 were $1,577,550 compared to $926,196 at June 30, 2007. Total liabilities at June 30, 2008 were $3,500,059 compared to $6,567,922 at June 30, 2007, reflecting the conversion of a significant amount of debt into equity in February 2008.
The improved operating results were attributable to our increased sales in the emerging telecom Mobile TV to mobile device market and in the Network TV broadcast markets. We are continuing to deliver product to MediaFLO USA, a wholly-owned subsidiary of Qualcomm Incorporated, for its Mobile TV initiative under our agreement with it, as reported in 8-K filings, dated September 15, 2006 and October 4, 2006, respectively. Further, our new ACCURATE software product, which interfaces with the Nielsen Local People Meter, is gaining traction with our Network Television clients, including GE-NBC, CBS, COX, Belo and others. The cable television content providers are also embracing the ACCURATE solution as their business models depend more on advertising and ratings. The ACCURATE Platform has helped to increase our exposure and is leading to increased sales of our flagship AXESS software and our network operations centers wide scale distributed system, monitoring and control model.
Geoffrey P. Talbot, Statmon Technologies CEO, said, “Looking toward the current quarter ending September 30, 2008, we anticipate that operating results will continue to trend in a positive direction and we expect to be profitable and generate positive cash flow for the balance of the FYE March 31, 2009. We are actively pursuing the telecom, IPTV, aviation and navigation aid, government, military and other infrastructure vertical markets.”
Mr. Talbot continued, “We are anticipating continued growth from our core business units in broadcast, telecom Mobile TV and aviation navigation despite the prevailing economic environment. In addition, we are encouraged by the level of interest we are experiencing from a number of major telecom and content providers that are undertaking network upgrades and implementing major infrastructure projects involving thousands of remote sites for their fiber IPTV, wireless broadband and mobile networks. Any one of these specific opportunities could have a dramatic positive impact on the Company. In anticipation of future growth, the Company is aligning itself with qualified strategic partners who can handle the funding, hardware and physical installation side of these wide-scale implementations. We are also developing a competitive operating lease structure which will have appeal to certain carriers.”
“We are the classic software model and believe that the Statmon Platform is a competitive solution in the worldwide mainstream communications and infrastructure markets. We are conveying this message to the marketplace,” Mr. Talbot concluded.
About Statmon Technologies Corp.
Statmon Technologies Corp. is a wireless and fiber infrastructure network management solution provider. Axess, its proprietary software application, and its supporting integration products are deployed in telecommunications, media broadcast and navigation aid transmission networks to optimize operations and ensure that the entire network continues to function. The Statmon Platform is designed to self-heal, or preempt transmission failure by automating the integration of the different devices and disparate technologies in a network under a single umbrella control system and permit manual corrective action at the network operations center or from any connected computer, including a wireless device.
The Company is headquartered in Bannockburn, IL, a Chicago suburb, and its shares are traded in the OTC Bulletin Board under the symbol “STCA.OB.”
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based largely on expectations or forecasts of future events, can be affected by inaccurate assumptions and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the Company’s control. Therefore, actual results could be differ materially from the forward-looking statements contained in this press release. A wide variety of factors could cause or contribute to such differences and could adversely impact revenues, margins, profitability, cash flows and capital needs. Such factors include, but are not limited to, its ability to increase revenues and achieve profits and positive cash flow in fiscal 2009; its ability to maintain or expand distribution within existing and new channels of trade for its products; its dependence on MediaFLO for a substantial portion of its revenues; its ability to complete the placement of its offering of Series A Secured Convertible Debentures; its need for additional capital and the uncertainty of obtaining it; the market acceptance for one or more of its new or existing products; whether it will be able to adapt its technology to new and different uses, including being able to introduce new products; competition from larger, more established companies with far greater economic and human resources; its ability to track and retain costumers and quality employees; the effect of changes economic conditions; and changes in government regulations, tax rates and similar matters; its ability to refinance or renegotiate promissory notes that have come due or are coming due; the wide fluctuations in its quarterly operating results; its failure to successfully implement new market verticals; and its ability to keep pace with rapidly changing technologies. The Company cannot predict or determine after the fact what factors would cause actual results to differ materially from those indicated by the forward-looking statements or other statements. The reader should consider statements that include the words “believes,” “expects,” “anticipates,” “intends,” “estimates,” “plans,” “projects,” “should” or other expressions that are predictions of or indicate future events or trends to be uncertain and forward-looking. The Company does not undertake to publicly update or revise forward-looking statements, whether as result of new information, future events or otherwise. For a more detailed description of these and other cautionary factors that may affect the Company’s future results, please refer to its Report on Form 10-KSB for its fiscal year ended March 31, 2008 and its Form 10-Q for the three months ended June 30, 2008, filed with the Securities and Exchange Commission.
Contact:
Statmon Technologies Corp.
Geoffrey Talbot, Chairman & CEO, 847-604-5368
Mobile: 310-770-4802
gtalbot@statmon.com
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Source: Statmon Technologies Corp.
