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Access Worldwide Communications Inc (AWWC) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2007

Access Worldwide Communications Inc

CIK: 1048422 Ticker: AWWC

 
Access Worldwide Reports Second Quarter Financial Results
 
ARLINGTON, VA - AugustVa., Aug. 15, 2007 /PRNewswire-FirstCall/ -- Access Worldwide Communications, Inc. (OTC Bulletin Board: AWWC), a Business Process Outsourcing ("BPO") services company, today reported financial results for the three and six months ended June 30, 2007.
 

For the Three Months Ended June 30, 2007

Our revenues for the three months ended June 30, 2007 increased $2.4 million, or 38.1%, to $8.7 million, compared to $6.3 million for the three months ended June 30, 2006. Revenues for the U.S. Segment increased $1.1 million, or 20.8%, to $6.4 million for the three months ended June 30, 2007, compared to $5.3 million for the three months ended June 30, 2006. Revenues for the International Segment increased $1.3 million, or 130.0%, to $2.3 million for the three months ended June 30, 2007, compared to $1.0 million for the three months ended June 30, 2006. The increase was attributed to our primary client in the Philippines growing by 250% offset by one of our client's decision to bring its outsourced production hours in house at the beginning of the second quarter. 
 
Our earnings before interest , taxes and depreciation for the three months ended June 30, 2007 increased $0.6 million or 150%, to $0.2 million, compared to $(0.4) for the three months ended June 30, 2006. The increase is primarily attributed to the increased revenues in both of our business segments.
 
We reported a net loss from continuing operations of $(2.8) million, or  $(0.13) loss per share of common stock, for the three months ended June 30, 2007, compared to a net loss from continuing operations of $(1.2) million, or $(0.07) loss per share of common stock, for the three months ended June 30, 2006. The net loss from continuing operations for the three months ended June 30, 2007 includes a non-cash interest expense charge of $2.5 million from the conversion of all of our Convertible Debts to common stock. Total weighted average common shares outstanding for the three months ended June 30, 2007 and June 30, 2006 were 22,129,092 and 17,350,507 respectively.

For the Six Months Ended June 30, 2007

Our revenues for the six months ended June 30, 2007 increased $5.6 million, or 47.5%, to $17.4 million, compared to $11.8 million for the six months ended June 30, 2006. Revenues for the U.S. Segment increased $2.9 million, or 29.0%, to $12.9 million for the six months ended June 30, 2007, compared to $10.0 million for the six months ended June 30, 2006. Revenues for the International Segment increased $2.7 million, or 150.0%, to $4.5 million for the six months ended June 30, 2007, compared to $1.8 million for the six months ended June 30, 2006. 
 
Our earnings before interest , taxes and depreciation for the six months ended June 30, 2007 increased $1.5 million or 214%, to $0.8 million, compared to $(0.7) for the six months ended June 30, 2006. The increase is primarily attributed to the increased revenues in both of our business segments.
 
We reported net loss and loss per share of common stock from continuing operations of $ (2.9) million and $(0.14), respectively, for the six months ended June 30, 2007, compared to net loss and loss per share of common stock of $(2.2) million and $(0.13), respectively, for the six months ended June 30, 2006. The net loss from continuing operations for the six months ended June 30, 2007 includes a non-cash interest expense charge of $2.5 million from the conversion of all of our Convertible Debts to common stock. Total weighted average common shares outstanding for the six months ended June 30, 2007 and June 30, 2006 were 19,904,079 and 17,119,773, respectively.
Inc. (OTC Bulletin Board: AWWC), a Business Process Outsourcing ("BPO") services company, today reported financial results for the three and six months ended June 30, 2007. 

 

The following information was filed by Access Worldwide Communications Inc (AWWC) on Wednesday, August 15, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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SEC Filing Tools
Ticker: AWWC
CIK: 1048422
Form Type: 10-Q Quarterly Report
Accession Number: 0001193125-07-249501
Submitted to the SEC: Fri Nov 16 2007 4:44:03 PM EST
Accepted by the SEC: Fri Nov 16 2007
Period: Sunday, September 30, 2007
Industry: Management Consulting Services

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