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Posted: Tuesday Nov 15 10:06:26AM 2005
Helical turns profitable...
Helical earns $140,665 in Q1 fiscal 2006
2005-11-15 09:17 ET - News Release
Mr. Lowell Weir reports
HELICAL REPORTS FIRST QUARTER PROFIT
The Helical Corp. Inc. has released its financial results for the first quarter of fiscal 2006, ended Sept. 30, 2005. The company saw earnings of $140,665, or 0.2 cent per share, for the first quarter. In the first quarter of 2004, the corporation experienced a loss of $207,040, or 0.6 cent per share.
"We are excited with the strong improvement in first-quarter operating results and look forward to further improvements over the balance of the fiscal year," stated Lowell Weir, president and chief executive officer.
Helical reported consolidated revenues of $1,5547,527 for the quarter ended Sept. 30, 2005, which represents a record, as compared with consolidated revenues of $16,793 in the corresponding period in the prior year. Revenues in the quarter were generated from the sale of telecommunication services in EIT Inc. (a subsidiary) of $1,452,841 and from the sale of application software in Helical Systems Inc. (a subsidiary) of $94.686. Revenues in the corresponding period in the prior year were generated from the sale of Helical Systems application software.
EIT had an outstanding fiscal quarter, generating record sales volumes. Margins were maintained at traditional levels leading to a very strong operating performance. Telecommunication equipment spending is rebounding after bottoming out in 2003. The United States Telecommunications industry is forecast to grow at a projected compound annual rate of 9.2 per cent from 2004 to 2007. EIT is well positioned to participate in this industry turnaround forecast for the next several years.
Helical Systems continues to enhance product offerings through the release during the quarter of new versions of all application programs. Additionally, Helical is actively seeking partnership and joint venture opportunities for the development of applications in other market segments in Systems.
Helical had a gross margin of $646,629, or 41.7 per cent, in the quarter. First-quarter margins were in line with budgeted and historic margin levels. Consolidated expenses for the quarter ended Sept. 30, 2005, were $505,964, up from $233,769 from the corresponding period in the prior year. Consolidated expenses in the current quarter include EIT expenses of $310,122. Research and development expenditures were $40,268 during the current quarter, up from $8,960 in the corresponding period in the prior year. Research and development efforts are focused on improving current product offerings through the launch of new feature-rich versions. Development costs for the Helical software platform are being expensed as incurred. Cash flow from operations totalled $330,998 in the quarter ended Sept. 30, 2005, which compares with a cash outflow of $154,139 in the comparative period in the prior year.
Posted: Friday Oct 21 7:20:35AM 2005
The BID and ASK are starting to move up - looks like fireworks start next week.
Posted: Friday Oct 14 5:13:10PM 2005
what is the stock symbol?