Warning on EONC its a very low float stock but it has managed to report 3 straight profitable qtrs with .40 eps
Thats a pretty impressive feat for a $3 dollar stock no matter what size of its float. Press Release
Source: eOn Communications Corporation On Wednesday December 16, 2009, 10:00 am EST
SAN JOSE, Calif., Dec. 16 /PRNewswire-FirstCall/ -- eOn Communications Corporation™ (Nasdaq: EONC) (the "Company"), a leading provider of telecommunications solutions, today reported first quarter fiscal results for the period ended October 31, 2009.
First quarter revenue increased 154% to $4,525,000 from $1,784,000 in the first quarter of last year. Net income for the quarter was $379,000 or $0.14 per common share compared to a net loss of $134,000 or $0.05 per common share in the quarter ended October 31, 2008. Included in net income for the quarter was $53,000 of imputed interest expense due to the amortization of the difference between the face value of the contingent obligation to the former Cortelco shareholders and the discounted present value of the note payable recorded on the balance sheet. Net income for the quarter excluding the impact of the imputed interest expense was $432,000 or $0.16 per common share.
eOn's operating results for the quarter ended October 31, 2009 represent the third consecutive profitable quarter. Financial results for the current quarter include net income of $442,000 of Cortelco Systems Holding Corp., which was acquired on April 1, 2009
Cash, cash equivalents and marketable securities increased 35% to $3,282,000 from $2,424,000 as of October 31, 2008 and increased 9% from $3,010,000 as of July 31, 2009.
"I would like to thank everyone in the organization for their continued efforts to return eOn Communications to profitability," commented Mr. David S. Lee, Chairman of eOn's Board of Directors. "Our profitability in the last three quarters has resulted in earnings of $1,083,000, or $0.40 per common share before imputed interest expense. Despite adverse economic conditions, we have achieved positive results through sound management."
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.