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eOn Communications Corp. Reports Operating Results (10-Q)

June 12, 2012 | About:
10qk

10qk

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eOn Communications Corp. (EONC) filed Quarterly Report for the period ended 2012-04-30.

Eon Comm Corp has a market cap of $4 million; its shares were traded at around $1.4 with and P/S ratio of 0.2.
This is the annual revenues and earnings per share of EONC over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of EONC.


Highlight of Business Operations:

Net revenue decreased by approximately 11% to $4,961,000 for the three months ended April 30, 2012 compared to $5,561,000 for the same period of the previous year. The decrease was primarily attributable to decreased revenues of approximately $852,000 in the Company’s eQueue and CSPR product lines. The decrease is partially offset by revenue increases of approximately $252,000 in the Company’s Cortelco product line.

Cost of revenue is primarily comprised of purchases from our contract manufacturers and other suppliers and costs incurred for final assembly of our systems. Gross profit decreased approximately 26% to $1,257,000 for the three months ended April 30, 2012 from $1,694,000 for the same period of the previous year. The cost of revenue in the previous year included approximately $46,000 in amortization of eConn IP-PBX software costs. There was no software amortization in the three months ended April 30, 2012. Gross profit percent decreased to approximately 25% for the three months ended April 30, 2012 compared with gross profit percent of approximately 30% for the same period of the previous year, primarily the result of product mix.

Net revenue decreased by approximately 1% to $16,864,000 for the nine months ended April 30, 2012 compared to $17,111,000 for the same period of the previous year. The decrease was attributable to decreased revenues of approximately $1,376,000 in the Company’s eQueue, Millennium and CSPR product lines compared to the same period of the previous year. The decrease is partially offset by increased revenue of $1,129,000 in the Company’s Cortelco product line.

Cost of revenue is primarily comprised of purchases from our contract manufacturers and other suppliers and costs incurred for final assembly of our systems. Gross profit decreased approximately 9% to $4,596,000 for the nine months ended April 30, 2012 from $5,061,000 for the same period of the previous year. The cost of revenue in the previous year included approximately $107,000 in amortization of eConn IP-PBX software costs. There was no software amortization in the nine months ended April 30, 2012. Gross profit percent decreased to approximately 27% for the nine months ended April 30, 2012 compared with gross profit percent of approximately 30% for the same period of the previous year, primarily the result of product mix.

At April 30, 2012, five customers accounted for approximately 52% of total accounts receivable and individually 15%, 12%, 9%, 8%, and 8% of the total accounts receivable. At April 30, 2011, four customers accounted for approximately 35% of total accounts receivable and individually 10%, 9%, 8%, and 8% of the total accounts receivable. For the nine months ended April 30, 2012, four customers accounted for approximately 46% of total revenue and individually 16%, 14%, 11%, and 5% of total revenue. For the nine months ended April 30, 2011, five customers accounted for approximately 45% of total revenue and individually 17%, 9%, 8%, 6%, and 5% of total revenue.

Read the The complete Report

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