HOT HOT HOT - INSG : Nasdaq Insignia Solutions Provides Fourth Quarter 2005 Financial Update; Customer Base Expands To 23 Mobile Operator Customers in 2005 ( From the MDG New Prospects LIST ).
FREMONT, Calif.--(Business Wire)--March 15, 2006--
Insignia Solutions (Nasdaq:INSG) today provided an
update on its fourth quarter and twelve months ended December 31, 2005. The Company expects to report its complete financial results on March 31, 2006.
Total revenue for the fourth quarter of 2005 is estimated at
between $1.1 million - $1.2 million, compared to $8,000 in the same period in the prior year and $800,000 in the third quarter of 2005. During the recently completed fourth quarter, approximately 72% of revenue was from sales of the Device Management Server (DMS), 26% from sales of Open Management Client (OMC), and 2% from sales of Secure System Provisioning (SSP).
The operating loss for the fourth quarter of 2005 is estimated at between $1.2 million - $1.3 million, compared to a loss of $2.1 million in the same period of the prior year, and a loss of $1.4 million in the third quarter of 2005. Loss per share for the fourth quarter of 2005 is estimated at between $0.03 - $0.04 per share, compared to a loss of $0.06 per share in the same period of the prior year and a loss of $0.04 per share in the third quarter of 2005.
Total revenue for the twelve months ended December 31, 2005 is
estimated at between $3.1 million - $3.2 million, compared to $0.5 million in the same period of the prior year. Loss for the twelve months ended December 31, 2005 is estimated at between $6.6 million - $6.8 million or approximately $0.15 - $0.16 per share, compared to a loss of $7.1 million or $0.23 per share in the same period of the prior year. In the first quarter of 2005, $213,000 of pre-acquisition revenue from Mi4e was not included in Insignia's reported results.
The Company's cash and cash equivalents were approximately $1.2
million as of December 31, 2005, compared to $902,000 at December 31, 2004. Shareholders' equity at December 31, 2005 is estimated at $2.5 million compared to $1.3 million at December 31, 2004. At December 31, 2005, the Company had approximately 43 million ordinary shares issued and outstanding compared to 36 million ordinary shares at December 31, 2004.
Insignia Solutions
John Davis, 408-874-2600
or
Financial Dynamics
Quynh Nguyen or Jordan Goldstein, 415-439-4500
Copyright Business Wire 2006
15Mar06 22:25 GMT
Symbols:
de;IN8 us;INSG
Source BW Business Wire
