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DALLAS, Feb 13, 2003 /PRNewswire/ -- Preferred Voice, Inc.
(OTC Bulletin Board: PFVI), a leading voice recognition technology company,
today reported financial results for third quarter of fiscal year 2003.
Revenues for the third quarter of fiscal 2003 increased slightly over the same
period of fiscal 2002, totaling $577,724 and $565,402, respectively.
Preferred announced a net loss of $76,539, or $0.01 per common share, for the
three months ended December 31, 2002, compared with a loss of $781,052 or $0.05
per common share, for the three months ended December 31, 2001. For the
nine months ended December 31, 2002, Preferred had revenues of $1,606,516 and a
net loss of $1,015,360 or, $0.05 per common share, compared with revenues of
$860,582 and a net loss of $2,951,709, or $0.18 per common share, for the
corresponding period in fiscal 2002.
Mary Merritt, VP Finance, stated. "Preferred Voice continues
to show improved operating results. Our entire organization is focused on
new customer voice dial deployments and the rollout and marketing of two
additional services, Remind Me and Quickcall."
Certain financial information with respect to the quarter
ended December 31, 2002 is set forth below. More information and
unaudited financial statements covering the 3 months and 9 months ended
December 31, 2002 will be set forth in the Company's 10-QSB filings with the
Securities and Exchange Commission (SEC). For additional information
visit the Company's website at www.preferredvoice.com.
About Preferred Voice:
Based in Dallas, TX, Preferred Voice, Inc. (OTC BB: PFVI) is a
leading voice recognition technology company. Preferred Voice markets its
products and services to wireless, ILEC and CLEC companies. These services
include Safety Talk voice activated dialing, voice accessed content, voice
calling cards, BusinessConnect voice directory assistance and EmmaPR voice
telephone receptionist. Preferred also provides carrier connectivity, call
management, provisioning and service delivery solutions for carriers, voice
portal providers, wireless application providers and other enhanced feature
providers.
STATEMENTS OF OPERATIONS (unaudited)
(In Thousands Except for Share Amounts)
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Three Months Ended
December 31,
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Nine Months Ended
December 31,
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2002
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2001
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2002
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2001
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Sales
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$ 578
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$ 565
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$ 1,606
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$ 861
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Cost of Sales
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228
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|
194
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585
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|
268
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Gross Profit (loss)
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$ 371
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$ 1,021
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$ 593
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Costs and expenses:
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Selling, general and administrative
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$ 618
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$ 1,150
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$ 2,228
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$ 3,541
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Interest expense
|
1
|
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2
|
|
3
|
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4
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Total costs and
expenses
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$ 619
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$ 1,152
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$ 2,231
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$ 3,545
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Loss from operations
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$ (269)
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$ (781)
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$(1,210)
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$ (2,952)
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Other income (expense):
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|
|
|
|
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Interest Income
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0
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0
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5
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0
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Negotiated settlement
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342
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0
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342
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0
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Lawsuit settlement
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(150)
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0
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(150)
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0
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Other
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0
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0
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(2)
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0
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Loss from operations before
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|
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income tax and extraordinary item
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$ (77)
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$ (781)
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$(1,015)
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$(2,952)
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Provision for income taxes
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0
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0
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0
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0
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Net loss
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$ (77)
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$ (781)
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$(1,015)
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$(2,952)
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|
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Per share amounts:
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Net loss per share
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$ (0.01)
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$ (0.05)
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$ (0.05)
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$(0.18)
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|
|
|
|
|
|
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SELECED BALANCE SHEET DATA
(unaudited) (In Thousands)
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December 31, 2002 |
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December 31, 2001 |
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Cash and cash equivalents |
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$
2,347
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Accounts receivable, net of allowance for doubtful |
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accounts of $-0- and $-0- respectively |
$
205 |
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$
203 |
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Total assets |
$
1,956
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$
4,252
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Total liabilities |
$
645
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$
1,151
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Total stockholders' equity
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$
1,311
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$
3,101
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Company Contact: Mary
Merritt, Vice President Finance (214) 265-9580
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