News and Events
eOn Communications Reports First Quarter Fiscal Year Financial Results
SAN JOSE, CA (December 13, 2007) – eOn Communications Corporation™ (NASDAQ: EONC), a leading provider of telecommunications solutions, today reported first quarter fiscal year 2008 results.
Net loss for the quarter was $911,000 or ($0.07) per common share, compared to net income of $40,000 or less than $0.01 per common share in the quarter ended October 31, 2006. For the quarter, net income included a loss from continuing operations of $393,000 and loss from the discontinued operations of eOn IP Voice, Inc of $518,000. Revenues for the quarter were $2,396,000, a decrease of 11% compared to $2,708,000 for the quarter ended October 31, 2006.
Cash and cash equivalents and short-term marketable securities decreased 25% to $4,246,000 from $5,656,000 as of July 31, 2007, primarily as a result of the $900,000 investment in Symbio Group and funding operating losses during the quarter.
“Although we did not meet our financial objectives, we have made significant strides in creating future growth opportunities for the Company, particularly in China,” stated David Lee, eOn’s chairman and chief executive officer. “Our recent investments in Symbio are expected to lead to new contact center revenues.”
Conference Call
The Company will host a conference call at 4:45 p.m. ET, December 13, 2007, to discuss first quarter fiscal year 2008 results. To hear the call, dial 800-595-9010 or visit our investor relations website at investor.eoncc.com. A replay of the call will be posted to our investor relations website shortly following the call.
About eOn Communications
eOn Communications Corporation is a global provider of innovative communications solutions. Backed by over 20 years of telecommunications engineering expertise, our solutions enable our customers to easily leverage advanced technologies in order to communicate more effectively. To find out more information about eOn Communications and its solutions, visit the World Wide Web at www.eoncommunications.com, or call 800-955-5321.
Note:
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks and uncertainties, including technical and competitive factors, which could cause the Company's results and the timing of certain events to differ materially from those discussed in the forward-looking statements. Such risks are detailed in eOn Communications Corporation's most recent Form 10-Q filing with the Securities and Exchange Commission.
eOn Communications Corporation and the mark eOn are trademarks of eOn Communications Corporation.
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eOn Communications Corporation Condensed Consolidated Statements of Operation
