Communication Intelligence Corp. Third Quarter 1996 Financial Results
REDWOOD SHORES, Calif. — November 13, 1996 — Communication Intelligence Corp. (CIC) (Nasdaq:CICI) today announced its financial results for the quarter ended Sept. 30, 1996, the third quarter of its 1996 fiscal year.
Revenues for the quarter ended Sept. 30, 1996 were $ 754,000, as compared to $ 639,000 for the corresponding quarter of the prior year.
The net loss for the quarter was $ 1.4 million, as compared to a net loss of $ 1.5 million for the corresponding quarter of the prior year. The net loss per share was approximately $ 0.03 on 41.9 million weighted average common shares outstanding for the current quarter as compared to a net loss of approximately $ 0.04 per share on 34.1 million weighted average common shares outstanding for the corresponding quarter of the prior year.
Detailed corporate and financial information is available on CIC's website at http://www.cic.com.
Selected financial information follows.
Communication Intelligence Corp.
Selected Consolidated Statement of Operations Information
(Dollars in thousands, except per share amounts)
Three Months Ended Nine Months Ended
(unaudited) (unaudited)
9/30/96 9/30/95 9/30/96 9/30/95
Revenue $ 754 $ 639 $ 2,071 $ 1,596
Net loss (1,422) (1,508) (4,421) (4,181)
Net loss per common share (3 cents) (4 cents) (11 cents) (12 cents)
Weighted avg. shares
outstanding 41,951 34,108 41,011 33,925
Selected Consolidated Balance Sheet Information
(Dollars in thousands)
9/30/96 12/31/95
(unaudited)
Cash & cash equivalents & Short-term
Investments $ 4,398 $ 7,459
Total current assets 5,879 8,699
Total assets 7,083 9,776
Deferred revenue(1) 2,266 2,570
Total current liabilities(2) 4,319 4,936
Stockholders' equity 2,756 4,010
(1) Deferred revenue consists principally of non-refundable advance
royalty payments from licensees.
(2) Includes deferred revenue
The Company
Communication Intelligence Corp. develops, markets and licenses natural input computer technology — products that use pen and image for input. Founded in 1981, CIC is a leading supplier of pen computing software products to hardware manufacturers throughout the world. The company's products include the multilingual Handwriter(R) Recognition System and SigCheck(TM) dynamic signature verification software, and the PenDOS(R) and PenMac(R) pen operating environments. CIC markets software tools such as InkTools(TM) and Sign-it(TM) which allow signature capture and verification within computer applications. CIC also markets the Handwriter(R) for Windows(R) and MacHandwriter(R) peripheral input device products enabling users to have pen computing capabilities on their desktop and laptop personal computers.
CIC is headquartered in Redwood Shores, Calif., and has subsidiaries in Japan and China. CIC's stock is publicly traded on Nasdaq, symbol CICI.
Note to Editors: Company and product names used herein are trademarks or registered trademarks of their respective companies.
CONTACT:
Communication Intelligence Corp.
Maurice Boucher, 415/631-7888
[email protected]