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Company Results Announced: eOn Communications, Comtech, ViryaNet
[June 08, 2006]

Company Results Announced: eOn Communications, Comtech, ViryaNet

TMCnet Contributing Editor
 

Company quarterly results announced recently:

Telecom vendor eOn Communications Corporation has reported record net income of $294,000 or $0.02 per common share for the third fiscal quarter ended April 30, 2006.

Net income for the quarter was $294,000, or $0.02 per common share, compared to a net loss of $696,000, or ($0.05) per common share in the quarter ended April 30, 2005.
 

Revenues from continuing operations were $3 million, an increase of 4% compared to $2,942,000 for the same period last year. Third quarter revenue increased 3% and income from continuing operations increased 49% compared to the second fiscal quarter of 2006.

Net income for the nine months was $1,406,000, or $0.11 per common share, compared to a net loss of $1,126,000, or ($0.09) per common share in the nine months ended April 30, 2005.

“Building on this momentum, we expect to produce the first profitable year in our company’s history,” stated David Lee, eOn’s chairman and chief executive officer.


During the quarter the company added new customers of its eQueue contact center product, including SerWizSol a wholly owned subsidiary of Tata Sons, Ltd., and one the largest outsourced customer service BPO providers in India.

Comtech Telecommunications Corp. has reported its operating results for the three months ended April 30, 2006. Net sales for the three months ended April 30, 2006 were $89.0 million, compared to $75.4 million for the three months ended April 30, 2005.

Non-GAAP net income, excluding stock option expensing, was $9.7 million, or $0.37 per diluted share, for the three months ended April 30, 2006. GAAP net income was $8.7 million, or $0.33 per diluted share, for the three months ended April 30, 2006 compared to $8.4 million, or $0.32 per diluted share, for the three months ended April 30, 2005.

Net sales for the nine months ended April 30, 2006 were $291.3 million compared to $209.6 million for the nine months ended April 30, 2005. Non-GAAP net income, excluding stock option expensing, was $36.7 million, or $1.38 per diluted share, for the nine months ended April 30, 2006.

GAAP net income for the nine months ended April 30, 2006 was $33.5 million, or $1.27 per diluted share, compared to $25.6 million, or $1.00 per diluted share, for the nine months ended April 30, 2005.

GAAP net income in the three and nine months ended April 30, 2006 included $1.4 million and $4.2 million, respectively, of pre-tax compensation expense related to the adoption of Statement of Financial Accounting Standards No. 123(R) which requires the expensing of stock option awards.

ViryaNet, a business processes automation vendor, has announced financial results for its first quarter of 2006.

Total revenues for the first quarter, ended March 31, 2006, were $4 million, an increase of 27% from $3.1 million of revenue recorded for the fourth quarter of 2005, and a 6% increase from $3.7 million of revenue recorded for the first quarter of 2005.

The company reported a net loss of $0.7 million, or $0.09 per basic and diluted share for the first quarter, ended March 31, 2006, compared to a net loss of $1.6 million, or $0.22 per basic and diluted share for the fourth quarter of 2005.

David Sims is contributing editor for TMCnet. For more articles please visit David Sims’ columnist page.


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