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Last10K.com | 10-Q Quarterly Report Thu Aug 14 2008
Exhibit 99.1
ACCESS WORLDWIDE REPORTS FOURTH QUARTER
AND YEAR-END FINANCIAL RESULTS
ARLINGTON, VA – April 2, 2008 – Access Worldwide Communications, Inc. (OTC Bulletin Board: AWWC), an established marketing and Business Process Outsourcing (“BPO”) services company, today reported financial results for the three and twelve months ended December 31, 2007.
For the Three Months Ended December 31, 2007
Our revenues decreased by $1.3 million, or 15.3%, to $7.2 million for the quarter ended December 31, 2007, compared to $8.5 million for the quarter ended December 31, 2006. Revenues for our U.S. Segment decreased $2.3 million, or 35.4% to $4.2 million for the quarter ended December 31, 2007, compared to $6.5 million for the quarter ended December 31, 2006. The decrease in revenues was primarily attributed to the loss of a profitable program, and our termination of another program due to its low performance and profitability. Revenues for our International Segment increased $1.0 million, or 50.0% to $3.0 million for the quarter ended December 31, 2006, compared to $2.0 million for the quarter ended December 31, 2006. The increase was primarily attributed to a 138.9% increase in production hours billed.
We reported a net loss from continuing operations of $1.5 million and basic and diluted loss per share of common stock from continuing operations of $0.05 for the quarter ended December 31, 2007, compared to a net loss from continuing operations of $0.3 million and basic and diluted loss per share of common stock from continuing operations of $0.02 for the quarter ended December 31, 2006.
Total weighted average diluted shares outstanding for the quarters ended December 31, 2007 and December 31, 2006 were 31,092,481 and 17,340,065, respectively.
For the Twelve Months ended December 31, 2007
Our revenues increased $5.1 million, or 18.4%, to $32.8 million for the year ended December 31, 2007, compared to $27.7 million for the year ended December 31, 2006. Revenues for the U.S. Segment increased $0.1 million, or 0.4%, to $22.6 million for 2007, compared to $22.5 million for 2006. Revenues for the International Segment increased $5.0 million, or 96.2%, to $10.2 million for 2007, compared to $5.2 million for 2006.
We reported net loss from continuing operations of $4.9 million and diluted loss per share of common stock of $0.19 for the year ended December 31, 2007, compared to net loss from continuing operations of $4.3 million and diluted loss per share of common stock from continuing operations of $0.25 for the year ended December 31, 2006.
Total weighted average common shares outstanding for year ended December 31, 2007 and December 31, 2006 were 25,482,446 and 17,340,065, respectively.
The following information was filed by Access Worldwide Communications Inc (AWWC) on Wednesday, April 2, 2008 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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Access Worldwide Communications Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2008 10-K Annual Report includes:
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Ticker: AWWC
CIK: 1048422
Form Type: 10-Q Quarterly Report
Accession Number: 0001193125-08-178484
Submitted to the SEC: Thu Aug 14 2008 5:06:23 PM EST
Accepted by the SEC: Thu Aug 14 2008
Period: Monday, June 30, 2008
Industry: Management Consulting Services
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