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Robocom Systems International Inc. Reports Financial Results for 2nd Quarter 2005
PR Newswire - January 03, 2005 09:01

MASSAPEQUA, N.Y., Jan 03, 2005 /PRNewswire-FirstCall via COMTEX/ -- Robocom Systems International Inc. (OTC Bulletin Board: RIMS) announced its results for the second quarter of fiscal 2005.

For the second quarter of fiscal 2005, Robocom reported net income of $125,398 ($0.027 per fully diluted share), as compared to $18,948 ($0.004 per fully diluted share) in the year-ago quarter. For the six-month period, net income increased by $222,774 to $246,980 ($0.054 per fully diluted share) as compared to $24,206 ($0.005 per fully diluted share) in the year ago period. This was Robocom's ninth consecutive profitable quarter.

Irwin Balaban, Robocom's President and CEO, noted, "I am very pleased with our results for the second quarter. Service revenues grew approximately 100% over the prior year period, as we implement our RIMS (TM) system at new customer locations. With the development of our latest version of RIMS, Version 5.0, which is compatible with Electronic Product Code (ePC) identifiers and RFID technology, we feel our solution provides our customers with a significant competitive advantage and return on investment."

Robocom Systems International Inc. (http://www.robocom.com) develops, markets and supports advanced Warehouse Management Systems software that enables customers to expand productivity, reduce costs and increase profits.

ROBOCOM SYSTEMS INTERNATIONAL INC.
CONDENSED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)


Three Months Ended Six Months Ended
November 30, November 30,
2004 2003 2004 2003

Revenues $876 $670 $1,769 $1,340
Cost of revenues 374 338 728 683
Gross margin before
amortization 502 332 1,041 657
Software amortization 190 189 379 379
Gross margin 312 143 662 278
Selling, general &
administrative expenses 188 119 417 245
Income from operations 124 24 245 33
Interest income (expense), net 1 (5) 2 (9)
Income before provision for
income taxes 125 19 247 24
Provision for income taxes -- -- -- --
Net income $125 $19 $247 $24

Net income per basic share $ 0.028 $ 0.004 $0.055 $0.005
Net income per diluted share $ 0.027 $ 0.004 $0.054 $0.005
Weighted average shares
outstanding:
Basic 4,523 4,496 4,509 4,496
Diluted 4,622 4,613 4,598 4,575

Forward Looking Statements: This news release contains forward-looking statements that involve risks and uncertainties. The Company's actual results may differ materially from the results discussed in the forward-looking statements. Factors that might cause such a difference include, among others, general economic and business conditions; industry trends; changes in demand for the Company's product; the timing of orders received from customers; announcements or changes in pricing policies by the Company or its competitors; unanticipated delays in the development, market acceptance or installation of the Company's products; availability of management; and availability, terms and deployment of capital.

SOURCE Robocom Systems International Inc.