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Earnings Analysis: 
Cohesant Technologies Posts Record Sales
Author: 123jump.com Staff
123jump.com
Last Update: 1:48 PM EST December 26 2006


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Openwave Systems first-quarter net loss widened as revenue fell for revenue costs and expense rose. Synergx posted a decrease in fourth-quarter revenues and profit, resulted from lower shipments of transit products that reflected a lower level of orders and the timing of releases required by customers. Cohesant Technologies reported record sales, while quarterly profit fell 40% on investments in developing products. Qiao Xing Universal Telephone recorded higher quarterly profit.

 
Openwave Systems Inc. (OPWV: chart), software company, said that its first-quarter net loss widened to $24.5 million, or 27 cents per share, compared with a net loss of $7.68 million, or 11 cents per share, during the same period in the prior year. Excluding items such as stock-based compensation amortization, the company reported a loss for the quarter of $517,000, or a penny per share, while last-year pro forma income was $8.98 million, or 12 cents per share. Revenue declined to $91.5 million versus $103.3 million in the prior year.

Synergx Systems Inc. (YX: chart), data communications maker, reported a fourth-quarter net loss of $317,000, or 6 cents per share compared with a net profit of $189,000, or 4 cents per share in the same period a year earlier. Revenue declined to $4.46 million from $5.12 million in the year-ago quarter.

Cohesant Technologies Inc. (COHT: chart), makes products for drinking water distribution and wastewater collection systems, said that its fourth-quarter net earnings declined to $316,258, or 10 cents per share compared with $532,314, or 17 cents per share, in the year-ago period. Revenue jumped 4.6% to $6.91 million versus $6.61 million in the year-ago period.

Qiao Xing Universal Telephone Inc. (XING: chart), telecommunications products maker, said that its third-quarter net earnings increased to 104 million yuan ($13.2 million), or 3.87 yuan per share (49 cents). The quarter included an extraordinary gain of 6 cents per share. Revenue climbed to 851.2 million yuan ($107.7 million).
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