Scriptel Reports First Quarter Results
COLUMBUS, Ohio — May 24, 1994 — Scriptel Holding Inc. (OTC:SCRH), a manufacturer of high performance digitizers and electronic styluses for the pen computer and mobile communications industries, Tuesday reported results for the first quarter ended March 31, 1994.
The net loss for the period was $1,527,967 or 14 cents per share on revenues of $508,811 compared to a net loss of $732,856 or 10 cents per share on revenues of $805,387 for the same period last year.
"The results reflect a substantial increase in research and development expenses to maintain our leadership position in the digitizer/pen-based and Field Emission Display (FED) technology, as well as costs associated with the April 1994 acquisition of controlling interest in Coloray Display Corporation," James W. France, Jr., president and chief executive officer, said. Coloray holds 14 patents critical to FED technology. In April 1994, the company granted a long-term international license to Communications Intelligence Corp. (NASDAQ/NMS: CICI), for the pen-based computer field. CIC will use Scriptel's patented technology in products to be marketed in the U.S., Europe and parts of Asia, including Japan. Recently, Samsung Group's Samsung Display Devices acquired $1.250 million of Scriptel's common stock, reflecting the increased joint activity between the companies.
SCRIPTEL HOLDING INC.
Financial Highlights (Unaudited)
For the Three Months Ended
3/31/94 3/31/93
Revenues $508,811 $805,387
Net (loss) (1,527,967) (732,856)
Net (loss) per common share ($.14) ($.10)
Weighted average number of
shares outstanding 10,710,572 7,593,819
CONTACT:
Scriptel Holding Inc., Columbus
Edward Palmer, 614/276-8402
or
Porter Le Vay & Rose, New York
Hal Le Vay, 212/564-4700