INTERLOGIX’S 2Q RESULTS TOTAL $155M, INCREASE 22% FROM PRIOR YEAR
Interlogix Inc.‘s revenues for the second quarter and six months ended June 30 totaled $155 million, an increase of 22 percent from the comparable period in 2000.
Operating income of $16 million for the quarter represents an increase of 136 percent from last year’s second quarter. Net income for the second quarter was $6 million, or 28 cents per share, compared to a net loss of $46 million, or $2.53 per share, in the second quarter of 2000. For the six-month period ended June 30, revenues totaled $314 million, an increase of 40 percent from the comparable period in 2000.
Operating income for the six-month period was $29 million, as compared to a net loss of $40 million in 2000. Net income for the six-month period ended June 30 was $10 million, or 50 cents per share. Revenues for the six-month period ended June 30 were $314 million, representing a 19-percent increase over the prior year period on a pro forma basis.
“The geographic balance of our revenue sources and the range of our markets all contributed to our solid quarterly performance, despite an economy that appears to be impacting our marketplace,” says Ken Boyda, president and CEO. “Additionally, we realized significant revenue gains from new products in the video area and from the key management group.”
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