NUMEREX ‘IN THE BLACK’ AS FINANCIAL RESULTS ARE IN LINE WITH ITS ‘STRATEGIC PLAN’
Numerex Corp., a communications company that develops and markets a wide range of information transport services, has announced its fourth-quarter financial results for the period ending Oct. 31, 1999. Net income for the quarter was $790,000, or 8 cents per share, as compared to a net loss of $9.732 million, or 91 cents per share, for the fourth quarter of 1998. The net loss for the 12-month period ended Oct. 31, 1999 was $1.617 million, or 16 cents per share, compared to a net loss of $11.157 million, or $1.03 per share for the comparable time frame in 1998. Net sales for the three-month period ended Oct. 31, 1999 and 1998 were $10.795 million and $5.436 million, respectively. “The comparative improvement in the fourth quarter and annual results is consistent with Numerex efforts to strengthen the company’s financial position while executing its strategic plan,” says CEO Stratton Nicolaides, who was appointed chairman of the board earlier this month. Numerex also announced the appointment of four new company officers.
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