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Article: Tidel Reports 1997 Fourth-Quarter and Year-End Financial Results
- Article from:
- PR Newswire
- Article date:
- December 19, 1997
CopyrightCOPYRIGHT 1997 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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HOUSTON, Dec. 19 /PRNewswire/ -- Tidel Technologies, Inc. (Nasdaq: ATMS) today announced 1997 fourth-quarter and year-end results.
In the quarter ended September 30, 1997, Tidel had net income of $432,274, or $.03 per share, on record revenues of $9,092,293. This compares with net income of $211,160, or $.01 per share, on revenues of $5,528,062 in the fourth quarter a year ago. Net income for the fourth quarter was reduced by $500,000, or $.03 per share, due to an increase in allowance for doubtful accounts. The additional provision relates to the uncertainty of the ultimate outcome of pending litigation of a disputed account receivable from a former ...