[center:53f5691e59] lunedi 29 earning titolo semplicemente sottovalutato..si accettano pareri 
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Press Release Source: Zoom Technologies, Inc.
Zoom Technologies Reports Q3 2007 Results, Including 56% Sales Increase
Monday October 29, 3:00 pm ET
BOSTON, MA--(MARKET WIRE)--Oct 29, 2007 -- Zoom Technologies, Inc. (NasdaqCM:ZOOM - News), a leading producer of modems and other communication products, today reported net sales of $5.6 million for its third quarter ended September 30, 2007, up 56% from $3.6 million for the third quarter of 2006. As reported in October 2006, Q3 2006 net sales were reduced by $0.5 million due to a major customer's shift to consignment.
ADVERTISEMENT
Zoom reported an operating loss of $0.7 million for Q3 2007, a significant improvement over the operating loss of $1.8 million for Q3 2006. Zoom reported a net loss of $0.6 million or $0.07 per share for Q3 2007 compared to a net loss of $0.8 million or $0.09 per share for Q3 2006. Zoom's Q3 2006 net loss benefited from other income of $0.9 million, a portion of Zoom's gain from the sale of Intermute.
Zoom's sales in North America in Q3 2007 were up 43% over Q3 2006, with particular strength at retail. Zoom's sales outside North America in Q3 2007 were up 79%, with strong growth at retail in the UK.
Gross profit was $1.3 million or 23.2% of net sales in Q3 2007, up from $0.2 million or 6.7% of net sales in Q3 2006. The increase in gross profit was primarily due to higher revenues and lower fixed costs, as fixed costs benefited from the move of Zoom's North American final assembly, test, warehousing, and shipping facility from Boston to Tijuana.
Operating expenses were $2.0 million or 36.4% of net sales in Q3 2007 compared to $2.0 million or 55.7% of net sales in Q3 2006. Variable selling expenses went up in Q3 2007 due to higher revenues, but these increases were offset by reductions in G&A and R&D expenses.
Zoom's cash balance on September 30, 2007 was $3.7 million, down from $5.8 million on June 30, 2007. This change was primarily due to Zoom's previously reported $1.1 million investment in Unity Business Systems, $0.1 million Unity transaction costs, and Zoom's $0.6 million loss in the third quarter of 2007. Zoom's current ratio was 3.6 on September 30, 2007, and Zoom's working capital was $8.6 million. Shareholder equity on September 30, 2007 was $9.85 million, over $1 per share. Zoom has no long-term debt.
"Our results benefited from dramatically higher broadband modem sales, especially through retailers in the US and UK," said Frank Manning, Zoom's President and CEO. "DSL sales more than doubled, and our cable modem sales also increased dramatically. We have increased our broadband shelf space, and we are benefiting from end-users who like the features, warranty, and high performance per dollar that Zoom's modems provide. We are also benefiting from our successful efforts to reduce manufacturing fixed costs as well as the cost of many of our DSL modems. During Q3 2007 we closed our Florida customer support facility, consolidating all support in Boston. Our primary focus now is on growing sales through marketing and sales efforts, new product introductions, and superior logistics and customer support. We also made a strategic investment in Unity Business Systems in July 2007, and we continue to review strategic opportunities."
Zoom has scheduled a conference call for Monday, October 29th at 4:00 p.m. Eastern Time. You may access the conference call by dialing (888) 211-9937 for calls made within the United States and (913) 312-1276 for calls made from outside the United States. The call will also be simulcast to stock analysts and other interested parties on Zoom's website (www.zoom.com/Q3) and to other financial and investor-oriented websites via the CCBN/StreetEvents network. Shortly after the conference call, a recording of the call will be available on Zoom's website. For additional information, please contact Investor Relations, Zoom Technologies, 207 South Street, Boston, MA 02111, telephone (617) 753-0698, email [email protected], or visit Zoom's website at www.zoom.com.
About Zoom Technologies
Zoom Technologies, Inc. designs, produces, markets, and supports communication products under the Zoom, Hayes®, and Global Village® brands. Zoom is headquartered in Boston, and its European sales and support center is in the UK. Zoom markets its products in over forty countries, and provides multi-lingual support from its offices in Boston and the UK. For more information about Zoom and its products, please see www.zoom.com.
Forward-Looking Statements
This release contains forward-looking information relating to Zoom's plans, expectations, and intentions, including statements relating to Zoom's efforts to increase sales and reduce costs. Actual results may be materially different from expectations as a result of known and unknown risks, including: the need for additional funding which Zoom may be unable to obtain; declining demand for certain of Zoom's products; delays, unanticipated costs, interruptions or other uncertainties associated with Zoom's production and shipping capabilities in Mexico; Zoom's reliance on an outsourcing partner to conduct production operations in Mexico; Zoom's dependence on key employees; the uncertainty of future demand from any specific customer or for all of Zoom's customers as a group; Zoom's reliance on a relatively limited number of customers for sale of its products; Zoom's reliance on international sales; the uncertainty of the regulatory environment for Zoom's products; uncertainty of new product development and introduction, including budget overruns, project delays, and the risk that newly introduced products may contain undetected errors or defects or otherwise not perform as anticipated; Zoom's dependence on one or a limited number of suppliers for certain key components; rapid technological change; competition; factors affecting Zoom's liquidity; and other risks set forth in Zoom's filings with the Securities and Exchange Commission. Zoom cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Zoom expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in the Zoom's expectations or any change in events, conditions or circumstance on which any such statement is based.
ZOOM TECHNOLOGIES, INC.
Consolidated Balance Sheets
In thousands
(Unaudited)
Sept 30, Dec 31,
2007 2006
=========== ===========
ASSETS
Current assets:
Cash $ 3,656 $ 7,833
Accounts receivable, net 3,664 3,386
Inventories 4,294 4,512
Prepaid expenses and other 208 269
----------- -----------
Total current assets 11,822 16,000
Property and equipment, net 179 249
Investment 1,179 --
----------- -----------
Total assets $ 13,180 $ 16,249
----------- -----------
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable $ 2,420 $ 2,640
Accrued expenses 471 562
Deferred gain on sale of real estate 367 367
----------- -----------
Total current liabilities 3,258 3,569
Deferred gain on sale of real estate 70 358
----------- -----------
Total liabilities 3,328 3,927
----------- -----------
Stockholders' equity:
Common stock and additional paid-in capital 31,562 31,369
Treasury stock (7) (7)
Accumulated other comprehensive income 596 557
Retained earnings (deficit) (22,299) (19,597)
----------- -----------
Total stockholders' equity 9,852 12,322
----------- -----------
----------- -----------
Total liabilities & stockholders' equity $ 13,180 $ 16,249
----------- -----------
ZOOM TECHNOLOGIES, INC.
Consolidated Statements of Operations
In thousands, except for per share data
(Unaudited)
Three Months Ended Nine Months Ended
9/30/07 9/30/06 9/30/07 9/30/06
========= ======== ======== ========
Net sales $ 5,580 $ 3,579 $ 14,676 $ 13,378
Cost of goods sold 4,287 3,338 11,792 11,949
-------- -------- -------- --------
Gross profit 1,293 241 2,884 1,429
Operating expenses:
Selling 979 782 2,751 2,564
General and administrative 617 689 1,863 2,236
Research and development 434 521 1,416 1,710
-------- -------- -------- --------
Total Operating Expenses 2,030 1,992 6,030 6,510
Operating profit (loss) before
building sale (737) (1,751) (3,146) (5,081)
Gain on sale of real estate 96 - 288 -
-------- -------- -------- --------
Operating profit (loss) (641) (1,751) (2,858) (5,081)
Total Other income (expense), net 28 919 156 1,016
-------- -------- -------- --------
Income (loss) before income taxes (613) (832) (2,702) (4,065)
Income tax expense (benefit) -- -- -- --
Net income (loss) $ (613) $ (832) $ (2,702) $ (4,065)
======== ======== ======== ========
Basic and diluted earnings (loss)
per share:
Earnings (loss) per share $ (0.07) $ (0.09) $ (0.29) $ (0.43)
======== ======== ======== ========
Weighted average number of shares
outstanding:
Basic and Diluted 9,347 9,347 9,347 9,347
======== ======== ======== ========
Contact:
Contact:
Robert Crist
617-753-0698
[email protected]
--------------------------------------------------------------------------------
Source: Zoom Technologies, Inc.
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· InPlay: ZOOM Telephonics reports 3Q07 EPS of ($0.07) vs. ($0.09) YoY; revs increased 56% from a year ago to $5.6 mln - Briefing.com (3:03 pm)
· Q3 2007 Zoom Technologies Inc. Earnings Release - Time Not Supplied - CCBN (7:07 am)
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Copyright © 2007 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright Policy - Ad Feedback
Copyright © 2007 Marketwire. All rights reserved. All the news releases provided by Marketwire are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.
Yahoo!My Yahoo!Mail Make Y! your home pageYahoo! SearchSearch
ign InNew User? Sign UpFinance Home -Help
Home InvestingMarket OverviewMarket StatsStocksMutual FundsETFsBondsOptionsIndustriesCurrencyEducationNews & OpinionMarketsInvesting IdeasExpert AdviceSpecial EditionsCompany FinancesProvidersPersonal FinanceBanking & BudgetingCareer & WorkCollege & EducationFamily & HomeInsuranceLoansReal EstateRetirementTaxesHow-to GuidesGet QuotesSymbol LookupFinance Search New! Find Quotes Faster
You no longer need to remember symbols. Simply type in a company name or stock symbol for instant results.
Learn more... Close x 35228069
Press Release Source: Zoom Technologies, Inc.
Zoom Technologies Reports Q3 2007 Results, Including 56% Sales Increase
Monday October 29, 3:00 pm ET
BOSTON, MA--(MARKET WIRE)--Oct 29, 2007 -- Zoom Technologies, Inc. (NasdaqCM:ZOOM - News), a leading producer of modems and other communication products, today reported net sales of $5.6 million for its third quarter ended September 30, 2007, up 56% from $3.6 million for the third quarter of 2006. As reported in October 2006, Q3 2006 net sales were reduced by $0.5 million due to a major customer's shift to consignment.
ADVERTISEMENT
Zoom reported an operating loss of $0.7 million for Q3 2007, a significant improvement over the operating loss of $1.8 million for Q3 2006. Zoom reported a net loss of $0.6 million or $0.07 per share for Q3 2007 compared to a net loss of $0.8 million or $0.09 per share for Q3 2006. Zoom's Q3 2006 net loss benefited from other income of $0.9 million, a portion of Zoom's gain from the sale of Intermute.
Zoom's sales in North America in Q3 2007 were up 43% over Q3 2006, with particular strength at retail. Zoom's sales outside North America in Q3 2007 were up 79%, with strong growth at retail in the UK.
Gross profit was $1.3 million or 23.2% of net sales in Q3 2007, up from $0.2 million or 6.7% of net sales in Q3 2006. The increase in gross profit was primarily due to higher revenues and lower fixed costs, as fixed costs benefited from the move of Zoom's North American final assembly, test, warehousing, and shipping facility from Boston to Tijuana.
Operating expenses were $2.0 million or 36.4% of net sales in Q3 2007 compared to $2.0 million or 55.7% of net sales in Q3 2006. Variable selling expenses went up in Q3 2007 due to higher revenues, but these increases were offset by reductions in G&A and R&D expenses.
Zoom's cash balance on September 30, 2007 was $3.7 million, down from $5.8 million on June 30, 2007. This change was primarily due to Zoom's previously reported $1.1 million investment in Unity Business Systems, $0.1 million Unity transaction costs, and Zoom's $0.6 million loss in the third quarter of 2007. Zoom's current ratio was 3.6 on September 30, 2007, and Zoom's working capital was $8.6 million. Shareholder equity on September 30, 2007 was $9.85 million, over $1 per share. Zoom has no long-term debt.
"Our results benefited from dramatically higher broadband modem sales, especially through retailers in the US and UK," said Frank Manning, Zoom's President and CEO. "DSL sales more than doubled, and our cable modem sales also increased dramatically. We have increased our broadband shelf space, and we are benefiting from end-users who like the features, warranty, and high performance per dollar that Zoom's modems provide. We are also benefiting from our successful efforts to reduce manufacturing fixed costs as well as the cost of many of our DSL modems. During Q3 2007 we closed our Florida customer support facility, consolidating all support in Boston. Our primary focus now is on growing sales through marketing and sales efforts, new product introductions, and superior logistics and customer support. We also made a strategic investment in Unity Business Systems in July 2007, and we continue to review strategic opportunities."
Zoom has scheduled a conference call for Monday, October 29th at 4:00 p.m. Eastern Time. You may access the conference call by dialing (888) 211-9937 for calls made within the United States and (913) 312-1276 for calls made from outside the United States. The call will also be simulcast to stock analysts and other interested parties on Zoom's website (www.zoom.com/Q3) and to other financial and investor-oriented websites via the CCBN/StreetEvents network. Shortly after the conference call, a recording of the call will be available on Zoom's website. For additional information, please contact Investor Relations, Zoom Technologies, 207 South Street, Boston, MA 02111, telephone (617) 753-0698, email [email protected], or visit Zoom's website at www.zoom.com.
About Zoom Technologies
Zoom Technologies, Inc. designs, produces, markets, and supports communication products under the Zoom, Hayes®, and Global Village® brands. Zoom is headquartered in Boston, and its European sales and support center is in the UK. Zoom markets its products in over forty countries, and provides multi-lingual support from its offices in Boston and the UK. For more information about Zoom and its products, please see www.zoom.com.
Forward-Looking Statements
This release contains forward-looking information relating to Zoom's plans, expectations, and intentions, including statements relating to Zoom's efforts to increase sales and reduce costs. Actual results may be materially different from expectations as a result of known and unknown risks, including: the need for additional funding which Zoom may be unable to obtain; declining demand for certain of Zoom's products; delays, unanticipated costs, interruptions or other uncertainties associated with Zoom's production and shipping capabilities in Mexico; Zoom's reliance on an outsourcing partner to conduct production operations in Mexico; Zoom's dependence on key employees; the uncertainty of future demand from any specific customer or for all of Zoom's customers as a group; Zoom's reliance on a relatively limited number of customers for sale of its products; Zoom's reliance on international sales; the uncertainty of the regulatory environment for Zoom's products; uncertainty of new product development and introduction, including budget overruns, project delays, and the risk that newly introduced products may contain undetected errors or defects or otherwise not perform as anticipated; Zoom's dependence on one or a limited number of suppliers for certain key components; rapid technological change; competition; factors affecting Zoom's liquidity; and other risks set forth in Zoom's filings with the Securities and Exchange Commission. Zoom cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Zoom expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in the Zoom's expectations or any change in events, conditions or circumstance on which any such statement is based.
ZOOM TECHNOLOGIES, INC.
Consolidated Balance Sheets
In thousands
(Unaudited)
Sept 30, Dec 31,
2007 2006
=========== ===========
ASSETS
Current assets:
Cash $ 3,656 $ 7,833
Accounts receivable, net 3,664 3,386
Inventories 4,294 4,512
Prepaid expenses and other 208 269
----------- -----------
Total current assets 11,822 16,000
Property and equipment, net 179 249
Investment 1,179 --
----------- -----------
Total assets $ 13,180 $ 16,249
----------- -----------
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable $ 2,420 $ 2,640
Accrued expenses 471 562
Deferred gain on sale of real estate 367 367
----------- -----------
Total current liabilities 3,258 3,569
Deferred gain on sale of real estate 70 358
----------- -----------
Total liabilities 3,328 3,927
----------- -----------
Stockholders' equity:
Common stock and additional paid-in capital 31,562 31,369
Treasury stock (7) (7)
Accumulated other comprehensive income 596 557
Retained earnings (deficit) (22,299) (19,597)
----------- -----------
Total stockholders' equity 9,852 12,322
----------- -----------
----------- -----------
Total liabilities & stockholders' equity $ 13,180 $ 16,249
----------- -----------
ZOOM TECHNOLOGIES, INC.
Consolidated Statements of Operations
In thousands, except for per share data
(Unaudited)
Three Months Ended Nine Months Ended
9/30/07 9/30/06 9/30/07 9/30/06
========= ======== ======== ========
Net sales $ 5,580 $ 3,579 $ 14,676 $ 13,378
Cost of goods sold 4,287 3,338 11,792 11,949
-------- -------- -------- --------
Gross profit 1,293 241 2,884 1,429
Operating expenses:
Selling 979 782 2,751 2,564
General and administrative 617 689 1,863 2,236
Research and development 434 521 1,416 1,710
-------- -------- -------- --------
Total Operating Expenses 2,030 1,992 6,030 6,510
Operating profit (loss) before
building sale (737) (1,751) (3,146) (5,081)
Gain on sale of real estate 96 - 288 -
-------- -------- -------- --------
Operating profit (loss) (641) (1,751) (2,858) (5,081)
Total Other income (expense), net 28 919 156 1,016
-------- -------- -------- --------
Income (loss) before income taxes (613) (832) (2,702) (4,065)
Income tax expense (benefit) -- -- -- --
Net income (loss) $ (613) $ (832) $ (2,702) $ (4,065)
======== ======== ======== ========
Basic and diluted earnings (loss)
per share:
Earnings (loss) per share $ (0.07) $ (0.09) $ (0.29) $ (0.43)
======== ======== ======== ========
Weighted average number of shares
outstanding:
Basic and Diluted 9,347 9,347 9,347 9,347
======== ======== ======== ========
Contact:
Contact:
Robert Crist
617-753-0698
[email protected]
--------------------------------------------------------------------------------
Source: Zoom Technologies, Inc.
Email Story
Set News Alert
Print Story
Related Quote
ZOOM 0.89 +0.06 News
View Detailed Quote
Delayed 20 mins
Providers - Disclaimer
Related News Stories
· Zoom Technologies Inc. Earnings Call scheduled for 4:00 pm ET today - CCBN (4:00 pm)
· ZOOM TECHNOLOGIES INC Files SEC form 8-K, Results of Operations and Financial Condition, Financial Statements and Exh - EDGAR Online (3:28 pm)
· InPlay: ZOOM Telephonics reports 3Q07 EPS of ($0.07) vs. ($0.09) YoY; revs increased 56% from a year ago to $5.6 mln - Briefing.com (3:03 pm)
· Q3 2007 Zoom Technologies Inc. Earnings Release - Time Not Supplied - CCBN (7:07 am)
More...
--------------------------------------------------------------------------------
· By industry: Communication Equipment
Top Stories
· Wall Street Rises As Fed Meeting Looms - AP (4:46 pm)
· Oil Surges to New Record Near $94 - AP (4:57 pm)
· Fed Officials to Weigh Another Rate Cut - AP (5:13 pm)
· Top Court to Hear Exxon Valdez Case - AP (5:17 pm)
More...
--------------------------------------------------------------------------------
· Most-viewed articles
RSS Feeds
Add headlines to your
personalized My Yahoo! Page
( About My Yahoo! and RSS )
ZOOM Headlines
My Yahoo RSS Communication Equipment Headlines
My Yahoo RSS More Finance RSS Feeds
--------------------------------------------------------------------------------
Copyright © 2007 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright Policy - Ad Feedback
Copyright © 2007 Marketwire. All rights reserved. All the news releases provided by Marketwire are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.
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