Short Take: Premiere announces record quarter

Premiere Technologies reported record revenues and net income for its fiscal third quarter which ended September 30, before a one-time charge of $12.3 million for the acquisition of TeleT Communications. Revenues increased to $13.1 million from $6.1 million for the same quarter a year ago. Net income before one-time charges rose to $1.9 million, or 9 cents a share, compared to $357,000 last year, or 2 cents a share. After one-time charges, the company had a loss of $10.3 million, or 3 cents a share.