Track Data Corporation Announces Second Quarter Results

Strategic Insights -

Track Data Corporation, a leading provider of real-time financial market data and analytical services, today announced its second quarter results for 1998. The company's revenues for the second quarter ended June 30, 1998 were $11,454,000, a decrease from the $11,894,000 reported for the same period in 1997. Net income for the 1998 period was $41,000, a significant improvement from the net loss of $(344,000) reported in 1997. The company's results were influenced by income from an affiliate, which contributed $90,000 to the 1998 quarter, compared to a net loss of $(664,000) in 1997.

Key Takeaways:

  • Track Data Corporation reported revenues of $11,454,000 for the second quarter of 1998, a decrease of $440,000 from the $11,894,000 reported for the same period in 1997.
  • The company's net income for the 1998 period was $41,000, a significant improvement from the net loss of $(344,000) reported in 1997.
  • Income from an affiliate contributed $90,000 to the 1998 quarter, compared to a net loss of $(664,000) in 1997.
  • The company increased marketing expenses for TV, radio, and print ads, and increased sales and customer support personnel to grow revenues and support its latest Internet product releases, myTrack and ProTrack.
  • Track Data provides real-time financial market data, fundamental research, charting, and analytical services to institutional and individual investors through dedicated telecommunication lines and the Internet.
  • The company's main products include MarkeTrack, MarkeTrack98, Track OnLine, Dial/Data, NewsWatch, NewsWeb, myTrack, and ProTrack.
  • Track Data Corporation's AIQ Systems division offers expert systems software, including artificial intelligence products for market timing and stock selection.

Statistics:

  • Revenues for the second quarter ended June 30, 1998: $11,454,000
  • Revenues for the same period in 1997: $11,894,000
  • Net income for the 1998 period: $41,000
  • Net loss for the 1997 period: $(344,000)
  • Income from an affiliate contributed $90,000 to the 1998 quarter
  • Net loss from an affiliate: $(664,000) in 1997
  • Revenues for the six months ended June 30, 1998: $23,270,000
  • Revenues for the same period in 1997: $23,812,000
  • Net income for the 1998 period: $267,000
  • Net loss for the 1997 period: $(167,000)

Sources:

  • Business Wire, August 11, 1998
  • Track Data Corporation press release, August 11, 1998