Detection Systems Inc. (DSI) reports net sales for fiscal 2000 were a record $141.9 million, compared to $138 million for fiscal 1999. Net income for fiscal 2000, after one-time charges of $1.9 million, were $3.5 million, or 51 cents per diluted share, compared to $4.5 million, or 65 cents per diluted share, in the prior year. Net sales for the quarter ended March 31, 2000 were $34.1 million, compared to $34.6 million for the year-ago period. As a result of the $1.9 million in one-time charges, a net loss of $600,000, or 10 cents per diluted share, has been reported for the quarter. This contrasts with net income of $1.2 million, or 17 cents per diluted share, for the year-ago period.
“We are pleased to have achieved record sales for the year and, excluding one-time charges, to have improved income,” says Karl H. Kostusiak, chairman and CEO. “We are very enthusiastic about the new technologies that we developed and expanded upon during the past year.” DSI also announces that it has partnered with Timarron Partners Inc. (TPI), a registered Texas corporation in the manufacturer representative business. TPI represents products in 10 states, including Colorado and Texas. DSI is a global supplier of electronic protection equipment.
