Please wait while we load the requested 10-K report or click the link below:
One Franklin Plaza
Burlington, NJ 08016-4907
|CONTACT:||ARNOLD D. LEVITT|
|Senior Vice President|
|Chief Financial Officer|
|FOR IMMEDIATE RELEASE|
FRANKLIN REPORTS PROFIT FOR THREE MONTH PERIOD ENDED DECEMBER 31ST
BURLINGTON, New Jersey February 13, 2007 Franklin Electronic Publishers, Incorporated (AMEX:FEP) reported pre-tax income of $553,000 for its third fiscal quarter ended December 31, 2006 compared with $2,106,000 in the prior year quarter. Revenue for the current period was $17,179,000 compared with $17,894,000 in the prior year period. The prior year quarter included $1,800,000 of revenue and $1,740,000 of gross margin from the renewal of a three year technology licensing agreement by the Companys Proximity licensing division. The pre-tax income of $553,000 for the current quarter is a 51% increase from the prior period pre-tax income of $366,000, without the contract renewal revenue. Net income for the current quarter was $393,000 or $.05 per share, compared with $1,995,000 or $.23 per share, after preferred stock dividends, in the prior year period.
For the nine months ended December 31, 2006, there was a net loss of $1,544,000, or $.19 per share compared with net income of $3,017,000 or $.34 per share after preferred stock dividends, in the prior year.
Barry Lipsky, President and CEO said that, We just returned from our best Consumer Electronics Show in recent years. Our new 12 Language Speaking Translator (TGA-490) was very well received and will commence shipments later this month. We also recently began shipping the first of four new higher priced, speaking bilingual dictionaries in Germany and the first of seven new products with new and improved content, into the United Kingdom. I expect that within the next 90 days the balance of these new products will also begin shipping. Mr. Lipsky went on to say that Sales of these new products and our continuing expense reduction program should lead to increased sales and a return to profitability in our next fiscal year.
Franklin Electronic Publishers Incorporated (AMEX:FEP) is a world leader in electronic handheld information, having sold more than 37,000,000 electronic books since 1986. Current titles available directly or through partners number more than 26,000 in sixteen languages under license from world class publishers, such as Merriam-Webster and HarperCollins, focused in five genres: Learning, Language Learning, Travel, Spiritual, and Leisure. The Company also licenses its underlying technology to an array of partners including Adobe, Sun Microsystems and Ademco (a division of Honeywell). Franklin distributes ROLODEX® Electronics branded organizers worldwide and SEIKO branded reference products in North and South America, Australia and the European Community. Franklins products are available at 43,000 retail outlets worldwide, through catalogs, and online at http://www.franklin.com.
The following information was filed by Franklin Electronic Publishers Inc on Wednesday, February 14, 2007 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
View differences made from one year to another to evaluate Franklin Electronic Publishers Inc's financial trajectory
Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were
removed , and by Franklin Electronic Publishers Inc.