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Comtex Sprints Back to Profitability
Business Home Internet By Freddie Mooche
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Business Mlm Opportunity (AXcess News) Alexandria, VA - Comtex News Network, Inc. (OTCBB: CMTX), a provider of electronic news services, sprinted back to profitability when it reported net icome of 5 cents per share for the year compared to a loss of 9 cents last year. The Alexandria-based company reported operating income of $826,000 and net income of $729,000 versus an operating loss of $1.1 million and a net loss of $1.2 million for the previous fiscal year.
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Based Business Home Income Fiscal 2005 revenues were $8.0 million compared to $8.2 million for the fiscal year ended June 30, 2004. Comtex said consolidation amongst Internet customers was the cause for its revenue decline.
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Based Business Home Internet Comtex said it shed unproductive personnel in administrative and technical staff, which improved its bottom line performance.
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Business Homebased Opportunity For the quarter ended June 30, 2005, Comtex's revenues were basically unchanged from the previous year at approximately $2 million. The Company reported fourth quarter net income of $431,000, which included a refund receivable of $151,000, or $0.03 per share, compared to $143,000, or $0.01 per share, for the fourth quarter of 2004.
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Based Business Home Mlm Chip Brian, Comtex's President, inferred that two new products introduced this year aided in the company's improved results, but fell short of saying whether the staff reductions were attributed to that.
Business New Opportunity The company has had a history of cloudy direction and poor marketing with an almost impossible ability to even reach someone. For two years AXcess News attempted to email and call Comtex with no reply, finally, giving up entirely.
Business Home Online Keith Kaplin joined the company earlier this month as VP of Marketing and Product Development. Previously Comtex had no one in this role. Kaplin actually joined Comtex last summer. But was appointed VP and had marketing added to his duties on Sept 23. He previously served in management roles at Reuters, Multex and BuzzCompany.com, so he knows how to bring new products to market. So there may hope for the company yet, as long as Brian lets management manage. Maybe they could hire a receptionist while their at it.
Best Business Home Opportunity Shares of Comtex closed Friday at $0.63, up 4 cents, or 6.7%, which is near its 52-week hi of $0.65.
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