NEW YORK, April 25, 2013 (GLOBE NEWSWIRE) -- Helios and Matheson Information Technology Inc (the "Company") (Nasdaq:HMNY), a 30 year old IT services organization focused on the banking, financial services, insurance and healthcare sectors, is providing the following preliminary (unaudited) information regarding the results of its operations for the first quarter of the year ended March 31, 2013:
For Q1 2013, the Company expects to report net income of $101,000 or $0.04 per diluted share (EPS) for the first quarter of 2013 compared to net income of $14,000 or $0.01 per diluted share for the first quarter of 2012. Income from operations remains stable at approximately $103,000 for Q1 2013 and Q1 2012. Q1 2012 net income had non recurring expenses of about $84,000.
The Company continues to be debt free. The Company expects to close the first quarter of 2013 with total assets of $5.3 million and total liabilities of $1.1 million.
|Three Months Ended|
|(In 000s except per share amounts)||03/31/13||03/31/12|
|Revenue||$ 3,203||$ 2,679|
|Gross Profit||$ 674||$ 640|
|Income from operations||$ 103||$ 102|
|Net Income||$ 101||$ 14|
|EPS per basic share||$ 0.04||$ 0.01|
|Dividend Per share||$ 0.09||$ 0.00|
|Cash and Cash Equivalent||$ 2.04||$ 1.95|