DataLogic International Files 10-QSB and Corrects Prior Earnings Announcement
November 14 2003 - 4:31PM
PR Newswire (US)
DataLogic International Files 10-QSB and Corrects Prior Earnings
Announcement - Revenues Increase 324% From Q2 2002 IRVINE, Calif.,
Nov. 14 /PRNewswire-FirstCall/ -- DataLogic International, Inc.
(BULLETIN BOARD: DLGI) ; (Berlin Stock Exchange: 779612), today
announced results for third quarter ended September 30, 2003. The
Company's net revenues for the three months ended September 30,
2003 increased $2,125,308 or 324% to $2,780,609 as compared to
$655,301 for the three months ended September 30, 2002. The Company
had previously reported revenues of $2,753,728. The Company's gross
profit from operations for the three months ended September 30,
2003 increased $285,188 or 579% to $334,444 as compared to $49,256
for the same period in the prior year. The increase in income from
operations was materially due to an increase in operating profits
from more billable employees, sales of VoIP phones and airtime, and
the Company's ability to better manage its general and overhead
expenses. Factoring expense for the three months ended September
30, 2003 was $72,095, an increase of $69,085, as compared to $3,010
for the same period in the prior year. The increase in factoring
expense was mainly due to unusual fees incurred for several large
late payments. Interest expense for the three month period ended
September 30, 2003 was $20,116, an increase of $13,055, as compared
to $7,061 for the three months ended September 30, 2002. The
increase in interest expenses was attributable to the increase in
the Company's short-term debts to finance payroll. The Company's
net profit for the three months ended September 30, 2003 was
$100,160, an increase of $112,081, as compared to the net loss of
$11,921 for the same period in the prior year. The Company had
previously reported net income of $145,374. The error was due to
the incorrect consideration of the factoring expense. About
DataLogic International Inc. DataLogic, operating through its
wholly-owned subsidiary, DataLogic Consulting Inc., is a
professional service company dedicated to solving its clients'
business problems with technology-based solutions. Its services
include SAS consultancy, project management, software development,
Internet solutions, telecommunications/wireless integration, value
added reselling/training and IT outsourcing. The Company also
provides short and long term staffing solutions to IT clients and
healthcare/medical providers. Among the industries that DataLogic
serves include Communications, Energy, Financial, Government,
Healthcare, Manufacturing, Retail and Transportation. A partial
list of the Company's current and previous clients include Alcon
Labs, Amgen, Boeing, Compaq Computer, Cisco Systems, City of
Houston, Commonwealth of Virginia, FDNY, FedEx, IBM Corp.,
International Paper, Kiboga Systems, Orange County Transportation
Authority (OCTA), PacifiCare/RX Solutions, Phillips Petroleum,
Prudential Healthcare, State of North Carolina, State of Rhode
Island, SAS Institute and Sun Microsystems. For more information on
DataLogic International, Inc., go to http://www.dlgi.com/ or
contact Investor Relations at (888) 530-8228. This release contains
forward-looking statements within the meaning of Section 27a of the
Securities Act of 1933, as amended and section 21e of the
Securities and Exchange Act of 1934, as amended. Those statements
include the intent, belief or current expectations of the company
and its management team. Prospective investors are cautioned that
any such forward-looking statements are not guarantees of future
performance and involve risks and uncertainties, and that actual
results may differ materially from those projected in the
forward-looking statements as a result of various factors.
Accomplishing the strategy described herein is significantly
dependent upon numerous factors, many that are not in management's
control. Some of these factors include the ability of the company
to raise sufficient capital, attract qualified management, attract
new customers and effectively compete against similar companies.
DATASOURCE: DataLogic International Inc. CONTACT: DataLogic
International Inc., Investor Relations, +1-888-530-8228 Web site:
http://www.dlgi.com/
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