EXI TECHNOLOGIES’ NET EARNINGS INCH UPWARD; DRAMATIC SURGE EXPECTED IN WAKE OF SIMPLEX DEAL
RICHMOND, British Columbia, Canada
EXI Technologies Inc. reports net earnings before amortization of goodwill of $91,390 (1 cent per share) for the three months ended March 31. In the first quarter of 1999, the company reported net earnings before amortization of goodwill of $64,749 (0.8 cents per share). Malik Talib, EXI president, says the company expects sales revenue in the second quarter to be similar to 1999’s results as EXI makes the transition from a development-focused organization to a product- and marketing-driven one. “This direction, we believe, will result in stronger third and fourth quarters,” he adds.
Talib noted that one of the significant partnership agreements reached during the first quarter of 2000 was with Simplex Time Record Co., a global provider of fire alarm detection and security systems. The deal calls for Simplex to integrate EXI’s RoomAlert and Halo infant protection systems with its own fire alarm, security and building communication systems, delivering turnkey solutions in nursing homes, assisted living centers and hospitals throughout the United States. EXI’s subsidiary, EXI Wireless Systems Inc., is a research, development and marketing company focusing on wireless systems based on RFID technologies.
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