Analytical Surveys Reports Year-End Results
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Analytical Surveys Reports Year-End Results

SAN ANTONIO, Dec. 30 /PRNewswire-FirstCall/ -- Analytical Surveys, Inc. (NASDAQ: ANLT), a provider of utility-industry data collection, creation and management services for the geographic information systems (GIS) markets, today announced financial results for its fiscal year ended September 30, 2005.

Revenue for the fiscal year was $6.1 million compared with $11.6 million in fiscal 2004. The Company's operating loss totaled $3.3 million before interest and other expense as compared with an operating loss in fiscal 2004 of $2.1 million before interest and other expense. Net loss available to common shareholders was $3.3 million, or $1.26 per diluted share, versus $1.2 million, or $1.17 per diluted share, last year. Net loss in fiscal 2004 included a $1.5 million gain on the extinguishment of debt.

Lori Jones, CEO of ASI, said, "We continued to experience a decrease in revenue as a result of fewer active contracts in the fiscal 2005 period. Both the number and size of new contract signings in each of the past four fiscal years was lower than in previous years and, as a result, revenues have decreased as well." ASI ended fiscal 2005 with an order backlog of $4.0 million versus $6.5 million at the end of last year.

Ms. Jones continued, "As we recently reported, we are pursuing alternative business strategies that concurrently leverage our GIS expertise and diversify our operations. We are currently targeting specific objectives in the oil and gas sector and are encouraged by the prospects that are emerging."

Analytical Surveys Inc. provides technology-enabled solutions and expert services for geospatial data management, including data capture and conversion, planning, implementation, distribution strategies and maintenance services. Through its affiliates, ASI has played a leading role in the geospatial industry for more than 40 years. The Company is dedicated to providing utilities and government with responsive, proactive solutions that maximize the value of information and technology assets. ASI is headquartered in San Antonio, Texas and maintains operations in Waukesha, Wisconsin. For more information, visit

This press release contains forward-looking statements that involve risks and uncertainties. The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. When used in this press release, the words "anticipate," "believe," "estimate," "intend" and "expect" and similar expressions are intended to identify such forward-looking statements. Such forward-looking statements include, without limitation, the statements regarding the Company's strategy, future sales, future expenses and future liquidity and capital resources. All forward-looking statements in this press release are based upon information available to the Company on the date of this press release, and the Company assumes no obligation to update any such forward-looking statements. The Company's actual results could differ materially from those discussed in this press release. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in Item 1. Business -- "risk factors" and elsewhere in the Company's Annual Report on Form 10-KSB.

                           ANALYTICAL SURVEYS, INC.
                               AND SUBSIDIARIES

                         Consolidated Balance Sheets
                         September 30, 2005 and 2004
                                (In thousands)

               Assets                                   2005           2004

    Current assets:
      Cash and cash equivalents                         $622           $867
      Accounts receivable, net of allowance
       for doubtful accounts of $50 and $54
       at September 30, 2005 and
       2004, respectively                              1,529          3,431
      Revenue earned in excess of billings             1,612          3,006
      Prepaid expenses and other                          81            183
        Total current assets                           3,844          7,487
    Equipment and leasehold improvements:
      Equipment                                        3,979          4,783
      Furniture and fixtures                             363            484
      Leasehold improvements                              75            267
                                                       4,417          5,534
      Less accumulated depreciation
       and amortization                               (4,249)        (5,274)
        Net equipment and leasehold improvements         168            260

        Total assets                                   4,012          7,747

           Liabilities and Stockholders' Equity

    Current liabilities:
      Current portion of long-term debt
       and capital lease obligations                      17             53
      Billings in excess of revenue earned               425            468
      Accounts payable                                   289            882
      Accrued interest -- related party                   --             78
      Accrued liabilities                                688            479
      Accrued payroll and related benefits               687            678
      Redeemable preferred
        stock -- current portion                          --            129
      Fair value of derivative
       features -- related party                          --            122
        Total current liabilities                      2,106          2,889

    Long-term debt:
    Capital lease obligations, less current portion       30             --
    Long-term debt - related party                        --          1,601
    Redeemable preferred stock; no par value.
      Authorized 2,500 shares; 166 and 259 shares
      issued and outstanding at September 30,
      2005 and 2004, (liquidation value $266
      and $362), respectively                            247            190
        Total long-term debt                             277          1,791
        Total liabilities                              2,383          4,680
    Commitments and contingencies
    Stockholders' equity:
      Common stock, no par value.  Authorized
        10,000 shares; issued and outstanding
        2,869 and 1,104 shares at September 30,
        2005 and 2004, respectively                   35,312         33,410
      Accumulated deficit                            (33,683)       (30,343)
        Total stockholders' equity                     1,629          3,067

        Total liabilities and
         stockholders' equity                         $4,012         $7,747

                           ANALYTICAL SURVEYS, INC.
                               AND SUBSIDIARIES

                    Consolidated Statements of Operations
                   Years ended September 30, 2005 and 2004
                   (In thousands, except per share amounts)

                                                        2005           2004

    Revenues                                          $6,063        $11,608

    Costs and expenses:
      Salaries, wages and benefits                     5,261          6,041
      Subcontractor costs                              1,524          3,714
      Other general and administrative                 2,310          3,533
      Depreciation and amortization                      175            273
      Severance and related costs                         67            164
      Total operating costs                            9,337         13,725

        Loss from operations                          (3,274)        (2,117)

    Other income (expense):

      Interest expense, net                              (78)          (681)
      Other, net                                          12             76
      Gain on extinguishment of debt                      --          1,475
      Total other income (expense)                       (66)           870

        Loss before income taxes                      (3,340)        (1,247)

    Income taxes                                          --             --

        Net loss available to common shareholders    $(3,340)       $(1,247)

    Basic earnings (loss) per common share:
    Net loss available to common shareholders         $(1.26)         (1.17)

    Diluted earnings (loss) per common share:
    Net loss available to common shareholders         $(1.26)         (1.17)

    Weighted average common shares:
        Basic                                          2,644          1,061
        Diluted                                        2,644          1,061

CONTACT: Lori Jones, Chief Executive Officer of Analytical Surveys, Inc.,
+1-210-657-1500; or Geoff High of Pfeiffer High Public Relations, Inc.,
+1-303-393-7044, Email Contact, for Analytical Surveys, Inc.

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