DETECTION SYSTEMS POSTS RECORD HIGH WITH NET SALES OF $36 MILLION IN 3rd QUARTER OF FISCAL 2000
Detection Systems Inc. reports record third-quarter revenues for fiscal 2000, ended Dec. 31, 1999, with net sales rising 6.2 percent to a record high of $36.3 million from $34.2 million in the previous third quarter. Net income for the period was $1.2 million, or 17 cents per diluted share, compared to $1.2 million, or 18 cents per diluted share for the comparable 1999 time frame. “Our strategy of expanding product offerings and geographic reach resulted in record sales for the quarter. Sales by our Asia Pacific operations were the primary contributor to sales growth, increasing 25 percent from the comparable year-ago quarter,” says Karl H. Kostusiak, chairman and CEO of Detection Systems.
For the first nine months of fiscal 2000, the company’s net sales were $107.8 million, representing a 4.2-percent increase from 1999’s $103.5 million. Detection Systems designs, manufactures and markets electronic detection, control and communication equipment for security, fire protection, access control and CCTV applications.
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