DynTek, Inc. (PINKSHEETS: DYNE), a leading
provider of professional technology services, today announced
results for its first fiscal quarter ended September 30, 2011.
DynTek reported positive EBITDA of $1,428,000 for the first
fiscal quarter ended September 30, 2011, an increase of $509,000 or
55% from $919,000 for the first fiscal quarter of 2011. Net income
was $607,000 for the first fiscal quarter of 2012, an increase of
$226,000 or 59% from $381,000 for the first fiscal quarter of
2011.
DynTek reported gross profit of $5,447,000 for the first fiscal
quarter ended September 30, 2011, an increase of $909,000 or 20%
from $4,538,000 for the prior first fiscal quarter. Revenues for
the first fiscal quarter of 2012 were $27,552,000, a slight
decrease of 4% from $28,684,000 in the first fiscal quarter of
2011. Total operating expenses increased to $4,054,000 in the first
fiscal quarter ended September 30, 2011 compared to $3,674,000 in
the prior first fiscal quarter.
"Despite a challenging economic climate, our business continues
to realize substantial growth as more and more organizations turn
to technologies, such as virtualization and unified communications,
to help them reduce operating expenses and increase worker
productivity," said Ron Ben-Yishay, DynTek's chief executive
officer. "We saw a dramatic improvement in our bottom line net
income and EBITDA figures, demonstrating that we are increasing
profitability as we increase the number of higher margin
service-based consulting engagements in the field."
EBITDA The Company defines EBITDA as net
income from operations before interest, taxes, depreciation and
amortization, and stock-based compensation. Other companies may
calculate EBITDA differently. Although EBITDA is a widely used
financial indicator of a company's ability to service debt, it is
not a recognized measure for financial statement presentation under
generally accepted accounting procedures (GAAP). EBITDA should not
be considered in isolation or as superior or as an alternative to
net income or to cash flows from operating activities as determined
in accordance with GAAP. Nonetheless, the Company believes that
EBITDA provides useful supplemental information for investors and
others to measure operating performance, especially in situations
where a company has significant non-cash operating expenses that
are not indicative of core business operating results. EBITDA is
widely used in the IT services industry to analyze comparable
company performance, and management of the Company also uses
EBITDA, in addition to GAAP information, as a measure of operating
performance for assessing its business units.
About DynTek DynTek is a leading provider
of professional technology services to mid-market companies, such
as state and local governments, educational institutions and
commercial entities in the largest IT markets nationwide. From
virtualization and cloud computing to unified communications and
collaboration, DynTek provides professional technology solutions
across the three core areas of our customers' technical
environment: Infrastructure/Data Center, Microsoft Platform, End
Point Computing. DynTek's multidisciplinary approach allows our
clients to turn to a single source for their most critical
technology requirements. For more information, visit
http://www.dyntek.com.
Follow Us Online: Twitter: @DynTek DynTek on Facebook DynTek on LinkedIn
Forward-Looking Statements This press
release contains certain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended,
which are intended to be covered by the safe harbors created
thereby. Investors are cautioned that certain statements in this
press release are "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of 1995 and involve
known and unknown risks, uncertainties and other factors. Such
uncertainties and risks include, among others, success in reaching
target markets for services and products in a highly competitive
market and the ability to maintain existing and attract future
customers; our ability to finance and sustain operations, including
our ability to comply with the terms of working capital facilities
and/or other term indebtedness of DynTek, and to extend such
obligations when they become due, or to replace them with
alternative financing; our ability to raise equity capital in the
future; our ability to achieve profitability despite historical
losses from operations; our ability to maintain business
relationships with IT product vendors and our ability to procure
products as necessary; the size and timing of additional
significant orders and their fulfillment; the continuing desire of
and available budgets for state and local governments to outsource
to private contractors; our ability to successfully identify and
integrate acquisitions; the retention of skilled professional staff
and certain key executives; the performance of DynTek's government
and commercial technology services; the continuation of general
economic and business conditions that are conducive to outsourcing
of IT services; and such other risks and uncertainties included in
our Annual Report on Form 10-K filed on October 29, 2007, our
Quarterly Report on Form 10-Q filed on November 19, 2007 and other
SEC filings. DynTek has no obligation to publicly revise any
forward-looking statements to reflect anticipated or unanticipated
events or circumstances occurring after the date of such
statements.
DYNTEK, INC. AND SUBSIDIARY
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(EBITDA presentation)
(Unaudited, in thousands)
Quarter Ended Quarter Ended
September 30, September 30,
2011 2010
---------------- ----------------
REVENUES
Product revenues $ 19,196 $ 21,470
Service revenues 8,356 7,214
---------------- ----------------
TOTAL REVENUES 27,552 28,684
---------------- ----------------
COST OF REVENUES
Cost of products 15,749 18,355
Cost of services 6,356 5,791
---------------- ----------------
TOTAL COST OF REVENUES 22,105 24,146
---------------- ----------------
GROSS PROFIT 5,447 4,538
---------------- ----------------
OPERATING EXPENSES
Selling 2,767 2,542
General and administrative 1,257 1,095
Depreciation and amortization 30 37
---------------- ----------------
TOTAL OPERATING EXPENSES 4,054 3,674
---------------- ----------------
INCOME FROM OPERATIONS 1,393 864
EBITDA 1,428 919
OTHER INCOME (EXPENSE)
Interest expense (248) (450)
---------------- ----------------
TOTAL OTHER EXPENSE (248) (450)
---------------- ----------------
INCOME BEFORE INCOME TAX PROVISION 1,145 414
Income tax provision 538 33
---------------- ----------------
NET INCOME $ 607 $ 381
================ ================
Add to Digg Bookmark with del.icio.us Add to Newsvine
For more information, contact: Linda Ford DynTek, Inc.
949-271-6705 Email Contact
Dyntek (CE) (USOTC:DYNE)
Graphique Historique de l'Action
De Juin 2024 à Juil 2024
Dyntek (CE) (USOTC:DYNE)
Graphique Historique de l'Action
De Juil 2023 à Juil 2024