Exhibit 99.1
Robocom Systems International Inc. Reports Financial Results for
1st Quarter 2005
MASSAPEQUA, NY, October 7, 2004 - Robocom Systems International Inc. (OTCBB:
RIMS) announced its results for the first quarter of fiscal 2005.
For the three months ended August 31, 2004, Robocom reported net income of
$121,582 ($0.027 per fully diluted share) as compared with $5,259 ($0.001 per
fully diluted share) in the year-ago quarter. Revenues grew to $892,762 from
$669,476 in the year-ago quarter. This was Robocom's eighth consecutive
profitable quarter.
Due to the improved operational results, Robocom received a $500,000 line of
credit from North Fork Bank on September 27, 2004. Borrowings under this line of
credit, which expires on August 1, 2005, bear interest at the North Fork Prime
Rate plus one percent.
Irwin Balaban, Robocom's President and CEO, noted, "Although our sales cycles
continue to be effected by current economic uncertainties, we have remained
committed to our strategy to increase profitability. Our RIMS(TM) product is a
flexible, cost-effective, WMS that integrates with leading front-end business
systems to provide supply chain visibility critical to success in today's global
marketplace."
Robocom Systems International Inc. (www.robocom.com) develops, markets and
supports advanced Warehouse Management Systems software that enables customers
to expand productivity, reduce costs and increase profits. Contact: Judy Frenkel
of Robocom at 516-795-5100 or jfrenkel@robocom.com.
ROBOCOM SYSTEMS INTERNATIONAL INC.
CONDENSED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)
Quarter Ended
August 31,
2004 2003
---- ----
Revenues $ 892 $ 669
Cost of revenues 353 345
---------------------
Gross margin before amortization 539 324
Software amortization 189 189
---------------------
Gross margin 350 135
Selling, general & administrative expenses 229 126
---------------------
Income from operations 121 9
Interest expense -- 4
---------------------
Income before provision for income taxes 121 5
Provision for income taxes -- --
---------------------
Net income $ 121 $ 5
=====================
Net income per basic share $ 0.027 $ 0.001
=====================
Net income per diluted share
$ 0.027 $ 0.001
=====================
Weighted average shares outstanding:
Basic 4,496 4,496
=====================
Diluted 4,574 4,496
=====================
- --------------------------------------------------------------------------------
Forward Looking Statements: This news release contains forward-looking
statements that involve risks and uncertainties. The Company's actual results
may differ materially from the results discussed in the forward-looking
statements. Factors that might cause such a difference include, among others,
general economic and business conditions; industry trends; changes in demand for
the Company's product; the timing of orders received from customers;
announcements or changes in pricing policies by the Company or its competitors;
unanticipated delays in the development, market acceptance or installation of
the Company's products; availability of management; and availability, terms and
deployment of capital.
- --------------------------------------------------------------------------------
-- END --