FREE Breaking News Alerts from StreetInsider.com!
E-mail Address
Top NewsMost Read Highlighted
Get AlertsHMNY Hot Sheet
Today’s EPS Names:
METR, LKFN, LKFN, More
Helios and Matheson Information Technology Inc (Nasdaq: HMNY) (or the “Company”), a 30 year old IT services organization focused on banking, financial services, insurance, automotive and healthcare sectors, is providing the following preliminary (unaudited) information regarding the results of its operations for the fourth quarter of the year ended December 31, 2012:
For 2012, the Company expects to report a profit of $422,000 or $0.18 per diluted share as compared to $203,000 or $0.09 per diluted share for 2011. This represents a 108% increase in profits. The Company expects to close 2012 with profits for each quarter during the year ended December 31, 2012.
The Company expects to end 2012 with cash of approximately $2.9 million, up from $2 million at the onset of the year. The Company is debt free. The Company expects to end 2012 with a strong balance sheet, with current assets and security deposits at about $5.3 million.
Helios and Matheson expects to report net earnings of $164,000 or $0.07 per diluted share for the fourth quarter compared to $143,000 or $0.06 per diluted share for the third quarter in 2012. The Company expects to report revenue of $3.3 million for the fourth quarter, as compared to third quarter revenue of $3.4 million.
The Company expects that gross margin will be stable in the range of 21-22% for the fourth quarter of 2012. Selling, general and administrative costs are expected to be $540,000 in the fourth quarter, which would be a decrease of 11% from the previous quarter level in 2012 and an increase of 9% from the fourth quarter of 2011, as a result of the Company’s ongoing cost management efforts.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items – JOIN NOW