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Hmmm...too bad
*** Scratch this one off -- the CD is scheduled to convert. So, this one is over.
PR NEWSWIRE
Conolog Announces Opening of New Teleprotection Market in South America With Initial Orders From Chile
Conolog Announces Opening of New Teleprotection Market in South America With
Initial Orders From Chile
-- Initial Systems Valued at $80,000 -
SOMERVILLE, N.J., March 20, 2009 /PRNewswire-FirstCall via COMTEX/ -- Conolog
Corporation (CNLGD), an engineering and design company that provides digital
signal processing solutions to global electric utilities, announced today it has
entered the South American teleprotection market with an initial order for 16
systems valued at $80,000 for immediate delivery.
Chairman of Conolog Robert Benou stated, "Our teleprotection products continue to
demonstrate systems preference, wide acceptance and high reliability for rugged
field operations."
Benou added, "The Company will continue its direct and Internet marketing efforts
and looks forward to the introduction of the CM100, which will greatly expand
application configurations and sales."
About Conolog Corporation
Conolog Corporation is a provider of digital signal processing and digital
security solutions to electric utilities worldwide. The Company designs and
manufactures electromagnetic products to the military and provides engineering
and design services to a variety of industries, government organizations and
public utilities nationwide. The Company's INIVEN division manufactures a line of
digital signal processing systems, including transmitters, receivers and
multiplexers.
Contact: Conolog Corporation: Robert Benou, Chairman, 908/722-8081
Forward-looking statements in this release are made pursuant to the "safe harbor"
provisions of the Private Securities Litigation Reform Act of 1995. Investors are
cautioned that such forward-looking statements involve risks and uncertainties,
including, without limitation, continued acceptance of the Company's products,
increased levels of competition, new products introduced by competitors, and
other risks detailed from time to time in the Company's periodic reports filed
with the Securities and Exchange Commission. There can be no assurance that
utilities will purchase any of our systems.
SOURCE Conolog Corporation
http://www.conolog.com
Copyright (C) 2009 PR Newswire. All rights reserved
Conolog Reports Results for the Six Months Ended January 31, 2009
-- Revenues at a five year high -
SOMERVILLE, N.J., March 18, 2009 /PRNewswire-FirstCall via COMTEX/ -- Conolog
Corporation (CNLGD) announced today the results for the six months ended January
31, 2009.
Product revenues for the six months ended January 31, 2009 totaled $945,640,
representing an increase of 81% from $522,727 reported for the same six month
period last year. The Company attributes this to increased orders.
Product cost (material and direct labor) for the six months ended January 31,
2009 totaled $234,363, or 25% of Product revenues, a net reduction of 13% from
the previous year. The Company attributes this improvement to continued use of
improved assembly standards under ISO-9000. Gross profit for the six months ended
January 31, 2009 amounted to $711,277, or 75%, a direct result of increased sales
this fiscal year. Selling, general and administrative expenses for the six months
ended January 31, 2009 amounted to $1,133,547, a 50% reduction or $1,055,443 from
the same period last year. Non-cash non-operating expenses for the six-month
period amounted to $543,459 which included induced conversion cost; amortization
of deferred debenture discount and debenture costs.
As a result of the above, the Company reported a net loss from operations of
($665,924) compared to a loss of ($4,177,068), or a per share loss of ($.21)
compared to a ($3.36) per share loss for the six months ended January 31, 2009
and 2008, respectively.
About Conolog Corporation
Conolog Corporation is a provider of digital signal processing and digital
security solutions to electric utilities worldwide. The Company designs and
assembles electromagnetic products to the military and provides engineering and
design services to a variety of industries, government organizations and public
utilities nationwide. The Company's INIVEN division is a provider of a line of
digital signal processing systems, including transmitters, receivers and
multiplexers.
Contact: Conolog Corporation: Robert Benou, Chairman, 908/722-8081
Forward-looking statements in this release are made pursuant to the "safe harbor"
provisions of the Private Securities Litigation Reform Act of 1995. Investors are
cautioned that such forward looking statements involve risks and uncertainties,
including, without limitation, continued acceptance of the Company's products,
increased levels of competition, new products introduced by competitors, and
other risks detailed from time to time in the Company's periodic reports filed
with the Securities and Exchange Commission.
[Financial Tables Follow]
CONOLOG CORPORATION AND SUBSIDIARIES
Condensed Consolidated Balance Sheets
ASSETSJanuary 31, 2009July 31, 2008
------
(Unaudited)(Audited)
--------------------
Current Assets:
Cash and cash equivalents$728,668$680,647
Certificate of deposit-600,182
Accounts receivable,net of allowance298,261360,846
Prepaid expenses374,83526,477
Current portion of note receivable14,86414,864
Inventory1,087,055850,507
Other current assets551,937568,529
--------------
Total Current Assets3,055,6203,102,052
------------------
Property and equipment:
Machinery and equipment1,357,0531,357,053
Furniture and fixtures429,765429,765
Automobiles34,09734,097
Computer software209,380209,380
Leasehold improvements30,26530,265
------------
Total property and equipment2,060,5602,060,560
Less: accumulated depreciation(1,955,725)(1,951,725)
--------------------
Net Property and Equipment104,835108,835
--------------
Other Assets:
Deferred financing fees, net of
amortization59,006295,030
Note receivable, net of current
portion73,06280,495
------------
Total Other Assets132,068375,525
--------------
TOTAL ASSETS$3,292,523$3,586,412
====================
LIABILITIES AND STOCKHOLDERS' EQUITY
------------------------------------January 31, 2009July 31, 2008
(Unaudited)(Audited)
--------------------
Current Liabilities:
Accounts payable$188,304$165,601
Accrued expenses-61,957
Current convertible debenture,
net of discount575,485824,853
--------------
Total Current Liabilities763,7891,052,411
----------------
----------------
Total Liabilities763,7891,052,411
----------------
Stockholders' Equity
Preferred stock, par value $.50;
Series A; 4% cumulative;
500,000 shares authorized;
155,000 shares issued and
outstanding at January 31, 2009
and July 31, 2008 , respectively.77,50077,500
Preferred stock, par value $.50;
Series B; $.90 cumulative;
2,000,000 shares authorized;
1,197 shares issued and outstanding
at January 31, 2009
and July 31, 2008 , respectively.597597
Common stock, par value $0.01;
30,000,000 shares authorized;
2,882,215 and 2,787,469 shares
issued and outstanding at
January 31, 2009 and July 31, 2008
respectively including 9 shares
held in treasury.28,82327,875
Contributed capital50,039,40350,003,695
Accumulated deficit(47,485,855)(46,819,932)
Treasury shares at cost(131,734)(131,734)
Deferred compensation-(604,110)
Prepaid consulting-(19,890)
---------
Total Stockholders' Equity2,528,7342,534,001
------------------
TOTAL LIABILITIES AND STOCKHOLDERS'
EQUITY$3,292,523$3,586,412
====================
CONOLOG CORPORATION AND SUBSIDIARIES
Condensed Consolidated Statements of Operations
(Unaudited)
For the Three MonthsFor the Six Months
Ended January 31,Ended January 31,
2009200820092008
----------------
OPERATING REVENUES
Product revenue$488,959$338,174$945,640$522,727
--------------------------------
Cost of product revenue
Materials and Labor
used in production130,33193,453234,363196,602
Write down of obsolete
inventory parts---100,000
-------------
Total Cost of
product revenue130,33193,453234,363296,602
---------------------------
Gross Profit (Loss)
from Operations358,628244,721711,277226,125
Selling, general and
administrative
expenses614,4031,316,6041,133,5472,188,990
----------------------------------
Loss Before Other
Income (Expenses)(255,775)(1,071,883)(422,270)(1,962,865)
------------------------------------
OTHER INCOME (EXPENSES)
Interest expense(14,140)(11,313)(69,274)(11,351)
Interest income2,48332,29313,81248,907
Induced conversion
cost(25,406)-(205,911)(944,362)
Write off of discount
on converted debt---(705,088)
Amortization of
deferred loan discount(50,762)(141,016)(101,524)(349,939)
Amortization of
deferred loan cost(118,012)(126,185)(236,024)(252,370)
--------------------------------
Total Other
Income (Expense)(205,837)(246,221)(598,921)(2,214,203)
----------------------------------
Loss before provision
for income taxes(461,612)(1,318,104) (1,021,191)(4,177,068)
Provision for
income taxes(355,267)-(355,267)-
--------------------
NET LOSS APPLICABLE
TO COMMON SHARES$(106,345) $(1,318,104)$(665,924) $(4,177,068)
========================================
NET LOSS PER BASIC
AND DILUTED
COMMON SHARE$(0.03)$(0.92)$(0.21)$(3.36)
========================
WEIGHTED AVERAGE
NUMBER OF COMMON
SHARES OUTSTANDING3,127,0791,427,076*3,123,7361,241,363*
====================================
* Represents retroactive application of 1:4 reverse stock split.
SOURCE Conolog Corporation
http://www.conolog.com
Copyright (C) 2009 PR Newswire. All rights reserved
I need to plan the short properly...
I have my bid in for .50
Dip it before running her.
we need to get some volume..wonder if we should dip it first?
Some churning today on L2. ISEG is trying to cover something...
insider buying before the RS say he knows something is in the wind...well worth being put on the radar...
*** Float Calculation
OS: 574,743 shares and the float is about 500,000 shares.
Insider Buying -- Need to Recalculate the Float.
Reported insider owns 476,751 as of March 2009?
http://idea.sec.gov/Archives/edgar/data/23503/000089109209001003/xslF345X03/e34716_ex.xml
second quarter ended January 31, 2009, the Company's sales were $491,000, a 45% increase over the same period of last year.
nice growth
*** Conolog Announces Second Quarter 2009 Sales of $491,000
Tuesday March 3, 8:30 am ET
Increases 45% Over Same Period of Last Year
SOMERVILLE, N.J., March 3 /PRNewswire-FirstCall/ -- Conolog Corporation (Nasdaq: CNLGD - News), an engineering and design company that provides digital signal processing solutions to global electric utilities, announced today that for the second quarter ended January 31, 2009, the Company's sales were $491,000, a 45% increase over the same period of last year.
Chairman of Conolog Robert Benou stated, "Our product line continues to provide system acceptance and reliability in field operations."
Benou added, "The Company will continue to expand its marketing and production efforts and look forward to the introduction of the CM100 this fiscal year."
About Conolog Corporation
Conolog Corporation is a provider of digital signal processing and digital security solutions to electric utilities worldwide. The Company designs and manufactures electromagnetic products to the military and provides engineering and design services to a variety of industries, government organizations and public utilities nationwide. The Company's INIVEN division manufactures a line of digital signal processing systems, including transmitters, receivers and multiplexers.
Contact: Conolog Corporation: Robert Benou, Chairman, 908/722-8081
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the Company's products, increased levels of competition, new products introduced by competitors, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission. There can be no assurance that utilities will purchase any of our systems.
*** LOW FLOATER
Contact Information Business Description
Conolog Corp.
5 Columbia Road
Somerville, NJ 08876
http://www.conolog.com
Phone: (908) 722-8081
Primary SIC — Industry Classification
3679 - Electronic components, misc
State Of Incorporation
DE
Jurisdiction Of Incorporation
United States
SEC Reporting Status
SEC Reporting Company
CIK
0000023503
Fiscal Year End
7/31
Estimated Market Cap
$843,402 as of Mar 6, 2009
Outstanding Shares
573,743 as of Feb 27, 2009
Number of Share Holders of Record
686 as of Oct 29, 2007
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Conolog Corporation was established in 1969 as an electronics design/engineering and manufacturing company specializing in Hi-Reliability communications equipment and components for the United States military. Conolog products were incorporated into the military's VRC, PRC and GRC family of radios, the Mark series of torpedoes and guidance for the Patriot missile and Captor Torpedo. Conolog's design expertise was expanded to commercial applications for AT&T, Dow Jones and other wire services as well as Utilities and DOTs (Departments of Transportation).
In 1980 Conolog Corp. acquired INIVEN, an electronics manufacturer making FSK (frequency shift keyed) audio communications equipment. Under Conolog, Iniven was expanded to include DSP (Digital Signal Processing) controlled FSK transmission protection communications for electric utilities and other products. Iniven continues to enhance and add to its product line to include the latest technology.
In 1995 Conolog Corp. offered shares of the company to the public and started trading on the Nasdaq. Conolog continues to support and manufacture products for the military, specializing in communications and guidance to some of the military's most sophisticated systems.
INIVEN is a division of Conolog Corporation (established 1969). Conolog Corp. is a communications manufacturer of hi-reliability military and commercial products. Conolog Corp. acquired INIVEN in 1980. When acquired, INIVEN manufactured FSK (frequency shift keyed) audio communications products. The product line has been expanded to include audio and digital teleprotection, substation multiplexers, and a more sophisticated line of FSK telemetry terminals. All products feature DSP (digital signal processing) and microprocessor technology. INIVEN products benefit from Conolog Corporation's hi-reliability design and manufacturing processes, allowing INIVEN to offer a 12 YEAR WARRANTY on all it's products.
Audio Communications Module now available for PDR-2000The all new Audio Communications Module is now an available option for the PDR-2000 Digital Teleprotection Terminal. This new module communicates using an OFDM protocol to transmit the PDR-2000’s digital signal over any 4 wire voice grade audio circuit. Using multiple streams of data at different frequencies and error correction codes, the Audio Communications Module assures proper transmission of data, even in the presence of significant noise. By using a digital signal instead of a traditional FSK signal, the PDR-2000 can take advantage of the full 8 channel tripping capacity and increase security well beyond the ability of FSK terminals. The typical trip times when using the Audio Communications Module are < 12 msec. Introducing the CM-100: The first stand alone IEEE C37.94 twelve channel multiplexerThe CM-100 IEEE C37.94 Substation Multiplexer is the latest addition to the INIVEN product line. This new 12 channel MUX is the first of it's kind and can be used in myriad applications. Collecting serial, asynchronous or synchronous data from substation IED's, the CM-100 merges and outputs this data using the C37.94 synchronous protocol over a fiber or optional electrical T1/E1. The use of standard protocols allows the CM-100 to interface with larger multiplexers that accept standard C37.94, T1 or E1 interfaces. The CM-100 can also be programmed to alter the standard C37.94 protocol and communicate with another CM-100 point to point by supplying it’s own timing signal. The CM-100 has the capacity to carry 6 interface modules in addition to the standard C37.94 Transceiver and Power Supply modules. Each interface module contains it’s own logic and when installed downloads it’s instruction set and identification to the microprocessor. This simplifies installation and allows for the development of future interface modules that can have their own custom setting requirements.
| ![]() IEEE C37.94 Substation MultiplexerCollect serial, asynchronous or synchronous data over copper or fiber (per C37.94) inputs from Intelligent Electronic Devices inside a distribution or transmission electrical power substation. ![]() Digital Teleprotection TerminalDigital high speed transfer trip communications for use in electric power transmission pilot protection schemes. Transmit and Receive up to 8 channels over 56/64 kbps, G.703 or fiber optics. ![]() Audio Tone Teleprotection TerminalAnalog high speed transfer trip communications for use in electric power transmission pilot protective schemes for. Transmit and receive up to 4 channels over any voice grade telecom medium or fiber optics. ![]() FSK Audio Telemetry TerminalTransmit and receive status and analog data over a narrow band of a voice frequency communications path. Other communication options such as dedicated fiber optics and RS-232 are also available. |
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