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Autumn 1999
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General Automation has announced net income of $88,000 or $0.01 per share, for the third quarter ended June 30, 1999, compared to a loss of $1.6m or $0.18 per share, for the quarter ended June 30, 1998.
Total sales for the quarter ended June 30, 1999, were $7.3m, down slightly from sales of $7.5m for the comparable period in 1998.
Net income for nine months ended June 30, 1999, totalled $417,000, or $0.04 per share, compared to a loss of $4.4m, or $0.48 per share, for nine months ended June 30, 1998.
General Automation said high profit margin sales by its wholly owned Canadian subsidiary Liberty Integration Software, have contributed significantly to an improved gross profit margin compared to 1998 and are predominantly responsible for the 41 percent increase in the Company’s cash position from the year ended September 30, 1998.
“We are pleased to announce our third consecutive profitable quarter,” said Jane Christie, President and Chief Executive Officer. “Management of the Company intends to focus on the Liberty product line in the future and we anticipate an increase in our reliance on the performance of software sales by the LIberty subsidiary.
“Liberty’s technology allows us to provide data access and data handling capabilities to the growing Natural Language marketplace. Liberty’s product and service offerings permit these customers to utilize e-commerce and to become Web-enabled. This is an untapped multi-billion dollar market.”
GA Mentor LimitedLast Updated: 08 December 1999