LORONIX’S REVENUE LEAPS 229% TO $11.5 MILLION IN ‘99; NET INCOME HITS $1.5 MILLION ON HEELS OF ‘98’s
DURANGO, Colo.
Loronix Information Systems Inc. has announced record revenue of $11.5 million for the fourth quarter ended Dec. 31, 1999, an increase of 229 percent from the same period in 1998. Net income for the fourth quarter was $1.4 million, compared to a net loss of $709,700 for the previous fourth quarter. Diluted income per share was 23 cents on 5.9 million weighted-average shares outstanding, compared to a loss of 15 cents per share on 4.6 million weighted-average shares outstanding for the same time frame in the prior year.
“1999 was an extremely positive year for Loronix and the fourth quarter continued the favorable trends both financially and for the business overall,” says CEO David Ledwell. “We enter 2000 with continued optimism and we are encouraged by the increasing diversity of applications and acceptance of the Loronix networked digital video solutions.” Loronix develops, markets, sells and supports a family of digital video recording management systems and digital identification systems for use in a wide range of applications and industries.
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