Cognigen Networks, Inc. (OTC Bulletin Board: CGNW), the Seattle area based Internet- enabled marketer of communications services and certificated reseller, announced its unaudited financial results for the three and nine months ended March 31, 2006. The Company realized revenue of $2,519,496 for the three months ended March 31, 2006, compared to revenue of $3,010,170 for the same period in 2005. Revenue for the nine months ended March 31, 2006, was $7,855,396 compared to $8,674,882 for the same period in 2005. Net income decreased from $346,307 or $.04 per share for the quarter ended March 31, 2005, to a net loss of $149,655 or $.02 per share for the same period in 2006. Net loss for the nine months ended March 31, 2006, was $194,233 or $.03 per share compared to net income of $811,589 or $.09 for the same period in 2005. Net cash provided from operations for the nine months ended March 31, 2005, was $385,165 while cash used in operations was $54,855 for the same period in 2006. Operating expenses for the quarter ended March 31, 2006 were $2,652,029, compared to operating expenses of $2,649,184 for the same quarter in 2005. Telecommunications expenses for the quarter decreased from $755,561 for the same quarter in 2005, to $628,334. Complete details of the full unaudited results and related financial information may be found in Cognigen's quarterly report on Form 10-QSB which has been filed with the SEC and which may be accessed through Edgar Online or other sources.
It is really too bad that Cognigen struggles to make a profit, as I have found the company to be great to me both as an agent and as a customer. Hopefully management will be able to reverse this trend and bring the company back to profitability!
Posted by: Long Distance Talk | June 06, 2006 at 07:51 PM