Syntellect Inc. Reports Second Quarter Financial Results, Net Loss of $1.9 Million

Strategic Insights -

Syntellect Inc., a leading developer and provider of voice and information processing systems and application software worldwide, today announced its second quarter financial results. The Company reported a net loss for the quarter of $1.9 million, or ($0.23) per share on revenues of $7.3 million, compared to net income of $115,000 or $0.01 per share on revenues of $10.9 million for the first quarter of 1994. The Company's Chairman, Chief Executive Officer, and President, Thomas R. Mayer, attributed the shortfall in revenues to delays in purchasing decisions from a major European customer. However, the Company has received orders totaling approximately $1 million from Europe and $250,000 from a System/2000 customer, causing its backlog to increase to $1.3 million. Syntellect's CEO emphasized the Company's strong financial underpinnings, with liquid assets remaining at approximately $8 million and a low debt level. Despite the disappointing second quarter results, the Company remains optimistic about its future prospects.

Key Takeaways:

  • Syntellect Inc. reported a net loss of $1.9 million for the second quarter, compared to net income of $115,000 in the first quarter of 1994.
  • Revenues decreased to $7.3 million, compared to $10.9 million in the first quarter of 1994.
  • The Company attributed the shortfall in revenues to delays in purchasing decisions from a major European customer.
  • Syntellect has received orders totaling approximately $1.3 million, causing its backlog to increase to $1.3 million.
  • The Company's financial underpinnings remain strong, with liquid assets remaining at approximately $8 million and a low debt level.
  • Syntellect incurred a net loss of $1.5 million for the six-month period ended June 30, 1995, compared to a net loss of $380,000 for the comparable period in 1994.

Statistics:

  • Net loss for the second quarter: $1,900,000
  • Net loss per share for the second quarter: ($0.23)
  • Revenues for the second quarter: $7,300,000
  • Net income for the first quarter of 1994: $115,000
  • Revenues for the first quarter of 1994: $10,900,000
  • Net loss for the six-month period ended June 30, 1995: $1,500,000
  • Net loss per share for the six-month period ended June 30, 1995: ($0.18)
  • Liquid assets: approximately $8,000,000
  • Debt level: very low

Sources:

  • PRNewswire, "Syntellect Inc. Reports Second Quarter Financial Results, Net Loss of $1.9 Million" (July 27, 1995)
  • Syntellect Inc. press release, dated July 27, 1995.