Niklas Bjorkman wrote: Firstly I agree with your conclusion. NewSQL takes the best of the traditional databases and NoSQL databases to combine the benefits of both worlds. I do not agree that NewSQL vendors focus on giving scale-out features to transactional data. The NewSQL market is focusing on giving true ACID support combined with extreme performance, stepping away from the traditional relational structures in databases. A lot of developers appreciate the ease of accessing data using SQL and I think we will see more and more databases supporting standard SQL.
As you said - NewSQL databases often maintain the...
In many cases, the end of the year gives you time to step back and take stock of the last 12 months. This is when many of us take a hard look at what worked and what did not, complete performance reviews, and formulate plans for the coming year. For me, it is all of those things plus a time when I u...
Evans & Sutherland ComputerCorporation (E&S) (OTCPK: ESCC)
today reported financial results in its Form 10-Q filing for the third
quarter ended September 28, 2012.
Sales for the third quarter were $5.4 million, compared to sales of $6.9
million for the third quarter 2011. Net loss for the quarter was $1.1
million or $0.10 per share compared to a net loss for the third quarter
2011 of $1.3 million or $0.12 per share. Backlog as of September 28,
2012 was $15.6 million compared to backlog of $17.4 million as of
December 31, 2011.
Comments from David H. Bateman, President and Chief Executive
Officer: “Sales for the third quarter and first nine months of 2012
were lower than the comparable periods of 2011; however, the gross
profit percentage improved in 2012 and offset most of the negative
consequences of lower sales. As a result, the 2012 gross profit
contribution for the third quarter decreased slightly while it improved
for the nine month period compared to 2011. The low 2012 sales were
attributable to lower than expected new sales bookings. Customer
bookings improved slightly in the third quarter but were still less than
expected. While the sales backlog is low compared to recent history,
sales prospects remain strong and the low bookings appear attributable
to the timing of customer decisions rather than lost opportunities. For
this reason, we remain hopeful that the sales backlog will recover with
stronger bookings for the remainder of 2012.
“As a result of our expectations for sales and operating expenses, we do
not expect to record net income for the remainder of 2012. Although we
expect to record a loss for 2012 we continue to believe that our
annualized results can reach close to breakeven under our current cost
structure with recovery of future sales levels comparable to 2011.
“Our outlook for the business remains positive.”
Statements in this press release which are not historical, including
statements regarding E&S’ or management’s intentions, hopes, beliefs,
expectations, representations, projections, plans, or predictions of the
future are forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. The Company assumes no
obligation except as required by law to update the forward-looking
statements contained in this press release as a result of new
information or future events or developments. You can identify these
statements by the fact that they use words such as “anticipate,”
“estimate,” “expect,” “project,” “intend,” “should,” “plan,” “goal,”
“believe,” “confident” and other words and terms of similar meaning in
connection with any discussion of future operating or financial
performance together with the negative of such expressions. Among the
factors that could cause actual results to differ materially are the
following: the Company’s ability to successfully market both new and
existing products domestically and internationally; difficulties or
delays in manufacturing; results of the Board's evaluation of
alternatives available to enhance value for shareholders; and market and
general economic conditions. A further list and description of these
risks, uncertainties and other matters can be found in the Company’s
reports filed with the Securities and Exchange Commission.
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
INFORMATION
(In thousands, except share and per share data)
(Unaudited)
Three Months Ended
Nine Months Ended
September 28, 2012
September 30, 2011
September 28, 2012
September 30, 2011
Sales
$
5,359
$
6,909
$
17,922
$
19,128
Cost of sales
3,299
4,765
11,387
13,229
Gross profit
2,060
2,144
6,535
5,899
Operating expenses:
Selling, general and administrative (excluding pension)
1,658
1,381
4,409
4,062
Research and development
662
703
1,926
2,189
Pension
590
541
1,699
1,486
Total operating expenses
2,910
2,625
8,034
7,737
Operating loss
(850
)
(481
)
(1,499
)
(1,838
)
Other expense, net
(200
)
(170
)
(601
)
(433
)
Loss on condemnation of property
-
(608
)
-
(608
)
Loss before income tax provision
(1,050
)
(1,259
)
(2,100
)
(2,879
)
Income tax provision
(21
)
(24
)
(95
)
(91
)
Net loss
$
(1,071
)
$
(1,283
)
$
(2,195
)
$
(2,970
)
Net loss per common share - basic and diluted
$
(0.10
)
$
(0.12
)
$
(0.20
)
$
(0.27
)
Comprehensive Loss
Net loss
$
(1,071
)
$
(1,283
)
$
(2,195
)
$
(2,970
)
Other comprehensive income (loss):
Unrealized gain (loss) on marketable securities
90
(316
)
194
(313
)
Comprehensive loss
$
(981
)
$
(1,599
)
$
(2,001
)
$
(3,283
)
CONDENSED CONSOLIDATED BALANCE SHEET INFORMATION
(In thousands)
(Unaudited)
September 28, 2012
December 31, 2011
Assets
Cash and restricted cash
$
2,276
$
4,994
Marketable securities
840
1,666
Net receivables, billed and unbilled
5,718
5,496
Inventories, net
3,971
3,624
Prepaid expenses and deposits
401
720
Property, plant and equipment, net
7,872
8,303
Intangibles and other assets
3,049
2,687
Total assets
$
24,127
$
27,490
Liabilities and stockholders' deficit
Accounts payable and accrued expenses
$
2,519
$
3,239
Customer advances and deposits
5,753
6,272
Pension and retirement obligations
32,885
33,073
Debt obligations
5,309
5,291
Other liabilities
1,502
1,480
Stockholders' deficit
(23,841
)
(21,865
)
Total liabilities and stockholders' deficit
$
24,127
$
27,490
BACKLOG
(In thousands)
Unaudited
September 28, 2012
December 31, 2011
$
15,625
$
17,449
E&S is a registered trademark of Evans & Sutherland Computer Corporation.
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