6/5/2003 - Ulticom, Inc. (NASDAQ: ULCM), a leading provider of service enabling signaling software for wireless, wireline and Internet communications, announced financial results for the first quarter of fiscal year 2003, ended April 30, 2003.
For the quarter, Ulticom had sales of $9,129,000, compared to sales of $7,097,000 in the first quarter of fiscal year 2002. The Company posted net income of $981,000 or $0.02 per diluted share, compared with a net loss of $1,079,000 or $0.03 per share for the first quarter of fiscal year 2002.
"We are especially pleased to have posted an operating income for the quarter. Over the past year, we have increased our sales and marketing efforts and have introduced new product features that address the key segments of switching, mobility, messaging, payment, and location services. These strategic investments have allowed us to further penetrate our existing accounts and acquire new customers, resulting in increased revenue and improved operating results," said Shawn Osborne, President and CEO of Ulticom, Inc. "While challenges remain in the telecommunications capital spending environment, we believe Ulticom is well positioned to play an expanding role in the deployment of new wireless services and in the evolution to next-generation packet networks."
The Company ended the quarter with cash, cash equivalents, and short-term investments of $218,993,000, working capital of $217,521,000, total assets of $237,749,000, and shareholders' equity of $224,351,000.
Ulticom provides service-enabling signaling software for wireless, wireline and Internet communications. Ulticom's products are used by leading telecommunication equipment and service providers worldwide to deploy mobility, location, payment, switching and messaging services. Traded on NASDAQ, as ULCM, Ulticom is headquartered in Mount Laurel, NJ with additional offices in the United States, Europe and Asia. For more information visit, http://www.ulticom.com.
Ulticom, Signalware and Programmable Network are trademarks or registered trademarks of Ulticom, Inc.
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