Sentry Technology Corp. reports revenues for its third quarter ended Sept. 30. were $4.3 million, compared to revenues of $5.5 million reported in the third quarter of the prior year. The decrease in revenues is primarily related to lower sales of electronic article surveillance (EAS) products to a major customer.
Net loss attributable to common shareholders was $717,000, or one cent per diluted share, an improvement of 20 percent from the net loss $897,000, or nine cents per diluted share, in the third quarter of 2000. For the first nine months ended Sept. 30, revenues were $13 million, compared to $16 million reported in the previous year. Net income attributable to common shareholders was $25 million, or 41 cents per diluted share, compared to a net loss attributable to common shareholders of $4 million, or 41 cents per diluted share.
“The events of September 11 caused retail and other customers to postpone purchases expected in the third quarter,” says Peter Murdoch, Sentry’s president and CEO. “However, business forecasted to be shipped in the fourth quarter is anticipated to result in our best sales performance in 2001. With the very positive customer acceptance of our new SmartTrack traveling CCTV system in the third quarter, strong international growth through market-leading dealer channels, a larger, more skilled domestic sales force and customer satisfaction ratings of 94 percent, Sentry has established the necessary prerequisites to achieve profitability in 2002.”
Sentry designs, manufactures, sells, installs and services a complete line of RF and Electromagnetic (EM) EAS and CCTV surveillance systems.