 |
 | |
 |  |
| We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level. |
September 24, 2003 08:30 Roanoke Technology Corp. Continues to Approach Profitability ROANOKE RAPIDS, N.C., Sept. 24 /PRNewswire-FirstCall/ -- Roanoke Technology Corp. (OTC Bulletin Board: RNKE) continues to approach profitability, as shown in the recent 10-Q filing. Roanoke Technology CEO David Smith commented, "We are very excited about the direction our company is going. The numbers from our last quarter filing as compared to the previous year show what we feel is a definite improvement in our financial stability as a company." "As mentioned in our M D & A, our cost of sales was $217,301 or 36.8% of revenues as compared to $217,282 or 47.8% of revenues in 2002. Our general and administrative costs decreased from $439,650 or 106% of revenues in the prior year quarter to $137,796 or 40% of revenues. Our net loss for last quarter was 56% less than the same quarter in the previous year. With our revenues remaining stable and our aggressive expense reduction program, we are anticipating that our 4th quarter 2003 will continue to show our progress towards positive cash flow," Smith concluded. The above information includes forward-looking statements regarding services and software development. These statements are not guarantees of future performance. Known and unknown risks, uncertainties, and other factors, including without limitation, capital requirements and other financial risks, customer demand, technological risks, management of growth, satisfying borrowing conditions, and competition may cause actual results to differ materially from the future results implied or expressed in the forward-looking statements. Additional information about the most significant of such factors is set forth in RTC's most recent Form 10 filing with the SEC. The Company does not undertake to update or revise its forward-looking statements publicly even if experience or future changes make clear that any projected results expressed or implied herein will not be realized. SOURCE Roanoke Technology Corp. /CONTACT: David Smith, CEO of Roanoke Technology Corp., +1-252-537-9222, ext. 235/ /Web site: roanoketechnology.com / (RNKE) In the news release, Roanoke Technology Corp. (OTC Bulletin Board: RNKE) Continues to Approach Profitability, issued earlier today by Roanoke Technology Corp. over PR Newswire, we are advised by the company that in the third paragraph, first sentence, the percentage figures should read "63.2%" rather than "36.8%", and "52.2%" rather than "47.8%" as originally issued inadvertently. SOURCE Roanoke Technology Corp. /PRNewswire-FirstCall -- Sept. 24/ /Web site: roanoketechnology.com / | ||||||||||||||
|
| Home | Hot | SubjectMarks | PeopleMarks | Keepers | Settings |
| Terms Of Use | Contact Us | Copyright/IP Policy | Privacy Policy | About Us | FAQ | Advertise on SI |
| © 2025 Knight Sac Media. Data provided by Twelve Data, Alpha Vantage, and CityFALCON News |