CE Software, Inc. Reports Results for Fiscal Year
Ended September 30, 2004
Assets sold during year.
West Des Moines, Iowa, January 13, 2006 -- CE SOFTWARE, INC. (OTC Symbol: CESF) today announced results for its fiscal year ended September 30, 2004.
CE Software reports a pro forma net loss of $63,000, or $4.33 per share, for its fiscal 2004 year ended September 30, 2004, on pro forma operating revenues of $454,000. For the prior fiscal year ended September 30, 2003, the company reported a net loss of $240,000, or $16.52 per share, on operating revenues of $1,249,000.
"With the contingent sale of our remaining software products, inventory and
fixed assets on April 1, 2004," said John S. Kirk, president of CE Software,
Inc., "there was no revenue for the quarters ended June 30 and September 30,
2004. The sale is contingent in that it is subject to approval of the shareholders.
Since management anticipates that approval will be obtained, financial results are
reported accordingly on pro forma basis. If the sale were not to be approved
by shareholder, the contingent sale would be reversed and management believes actual
losses of the company would be greater than the pro forma results.
"Since April 1, 2004, the Company has been operating with minimal staff. We do not expect any future operating revenue if the contingent sale is approved by shareholders. General and administrative expenses are continuing. We have experience delays in resolving issues. Upon resolution management will seek shareholder approval of the contingent sale of the Company's operating assets and approval to distribute cash to the shareholders."
John S. Kirk continued, "As we continue to work on the proposed liquidation that was discussed in our press release of April 13, 2004, the members of the Company's Board of Directors are also considering the possibility of selling their shares in the Company to another entity that may wish to purchase a controlling interest. Any such sale, if it were to occur, would be preceded by a distribution of substantially all of the cash in the Company to its shareholders. We anticipate that a purchaser in any such sale would continue the Company with a new business plan, which plan could include seeking out and completing a merger with an operating company."
For prior press releases, more information, and to ask questions, set your Web
browser to http://www3.cesoft.com/home/pressrelease-all.html or write to CE Software,
Inc., Shareholder Relations, P.O. Box 65580, W. Des Moines, IA 50265, and ask to
be put on the 'shareholder news' mailing list. We have also set up a Web page for
shareholder questions and our responses [here].
This release contains forward-looking information that is subject to certain risks, trends and uncertainties and actual developments may differ materially from those projected.
Balance Sheets Statements of Operations Statements of Stockholders' Equity Statement of Cash Flow
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