HUGE NEWS DLGI
FROM PR NEWSWIRE LOS ANGELES 213-626-5500/
TO BUSINESS AND TECHNOLOGY EDITORS:
DataLogic International Files 10-QSB and Announces Record Results for Q2 2003
- Revenues Increase 685% From Q2 2002
IRVINE, Calif., Aug. 20 /PRNewswire-FirstCall/ -- DataLogic International,
Inc. (OTC Bulletin Board: DLGI), today announced results for second quarter
ended June 30, 2003. The Company's net revenues for the three months ended
June 30, 2003 increased $2,348,753 or 685% to $2,691,716 as compared to
$342,963 for the three months ended June 30, 2002.
The significant increase in net revenues was primarily due to the multi-
year governmental service contracts received in the first quarter of 2003.
The Company's gross profit from operations for the three months ended
June 30, 2003 increased $158,358 or 323% to $109,346 as compared to a loss
from operations of $49,012 for the three months ended June 30, 2002. The
increase in income from operations was materially due to an increase in
operating profits from more billable employees as a result of the commencement
of operations from the Company's newly awarded contract expansions and the
Company's ability to manage its general and overhead expenses.
Depreciation and amortization expenses for the three month period ended
June 30, 2003 were $7,209, an increase of $6,075, as compared to $1,134 of
such expenses for the three month period ended June 30, 2002. The increase in
depreciation and amortization expenses for the three month period ended
June 30, 2003 was primarily due to the increased requirements in office and
VoIP equipment.
Interest expense for the three month period ended June 30, 2003 was
$20,391, an increase of $16,084, as compared to $4,307 for the three months
ended June 30, 2002. The increase in interest expenses was attributable to
the increase in the Company's short term debts to finance payroll. Issuance
of shares for sales and marketing, legal, and merger and acquisition services
for the three months ended June 30, 2003 was $756,090. Issuance of shares for
compensation for the same period was $90,334.
As a result of the above, the net loss for the three month period ended
June 30, 2003, was $731,806 as compared to the net loss of $73,319 for the
three months ended June 30, 2002.
"Our multi-year governmental service contract awards have helped
strengthen our fundamentals and forward momentum," stated Derek Nguyen, the
Company's CEO. "Our focus continues to be directed toward securing additional
contracts in the governmental sector as well as general staffing."
"The demands for our VoIP products have been high," commented Keith
Nguyen, President of DataLogic and its subsidiary I-Phonehome. "We anticipate
the demand to dramatically increase once we roll out our new products and
services later this quarter. We will also place additional emphasis on the
development, sales and marketing of Kiboga's public safety/homeland security
product suites."
About DataLogic International Inc.
DataLogic Consulting Inc., a wholly-owned subsidiary, is a professional
service company dedicated to solving its clients' business problems with
technology-based solutions. Its services include IT consultancy, project
management, software development, Internet solutions,
telecommunications/wireless integration, value added reselling/training and IT
outsourcing. The Company also provides short and long term staffing solutions
to IT clients and healthcare/medical providers.
Among the industries that DataLogic serves include Communications, Energy,
Financial, Government, Healthcare, Manufacturing, Retail and Transportation.
A partial list of the Company's current and previous clients include Alcon
Labs, Amgen, Boeing, Compaq Computer, Cisco Systems, City of Houston,
Commonwealth of Virginia, FDNY, FedEx, IBM Corp., International Paper, Kiboga
Systems, Orange County Transportation Authority (OCTA), PacifiCare/RX
Solutions, Phillips Petroleum, Prudential Healthcare, State of Rhode Island,
SAS Institute and Sun Microsystems. For more information on DataLogic
International, Inc., go to www.dlgi.com or contact Investor Relations at
(888) 530-8228, ext. 107.
