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

December 14, 2012 | About:

eOn Communications Corp. (EONC) filed Quarterly Report for the period ended 2012-10-31.

Eon Communications Corporation has a market cap of $2.3 million; its shares were traded at around $0.79 with a P/E ratio of 4.9 and P/S ratio of 0.1.

Highlight of Business Operations:

Net revenue decreased by approximately 8% to $5,734,000 for the three months ended October 31, 2012 compared to $6,230,000 for the same period of the previous year. The decrease was primarily attributable to decreased revenues of approximately $897,000 in the Companys eQueue and telephony product lines. The decrease is partially offset by revenue increases of approximately $401,000 in the Companys CSPR 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 12% to $1,515,000 for the three months ended October 31, 2012 from $1,728,000 for the same period of the previous year. Gross profit percent decreased to approximately 26% for the three months ended October 31, 2012 compared with gross profit percent of approximately 28% for the same period of the previous year, primarily the result of product mix.

Other expense is primarily comprised of bank service charges, stock compensation expense, franchise taxes, currency differences, proceeds from scrap sales, and gains or losses from disposal of fixed assets. Other expense was $14,000 for the three months ended October 31, 2012 compared to income of $9,000 for the same period of the previous year.

At October 31, 2012, five customers accounted for approximately 52% of total accounts receivable and individually 22%, 10%, 7%, 7%, and 6% of the total accounts receivable. At October 31, 2011, four customers accounted for approximately 47% of total accounts receivable and individually 15%, 13%, 11%, and 8% of the total accounts receivable. For the three months ended October 31, 2012, four customers accounted for approximately 41% of total revenue and individually 18%, 13%, 7%, and 3% of total revenue. For the three months ended October 31, 2011, four customers accounted for approximately 49% of total revenue and individually 17%, 14%, 13%, and 5% of total revenue.

Read the The complete Report

About the author:

10qk
Charlie Tian, Ph.D. - Founder of GuruFocus. You can now order his book Invest Like a Guru on Amazon.

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