NUMEREX REPORTS 2Q RESULTS INCREASED BY $1M FROM PRIOR YEAR
Numerex Corp. announces its second-quarter results for 2001, reporting a net loss of 13 cents per share, including business restructuring and related one-time charges. The resulting net loss from operations, 9 cents per share, compares to a net loss of 14 cents per share for the second quarter of 2000. Net sales for the second quarter were $6 million, as compared to $5 million for the comparable period the past year.
Chairman and CEO Stratton Nicolaides says, “Second-quarter wireless data revenues reflected growth of 42 percent throughout 2000 and grew at 48 percent in a six-month comparative period. The quarterly and six-month results were broadly in line with our growth estimates and generally reflect anticipated trends. We continue to be encouraged by the 66-percent growth in our core wireless service revenues year throughout year and the 33-percent sequential growth in wireless revenues from the first quarter.
Furthermore, our quarterly and six-month operating expense to revenue ratio improved significantly, particularly when excluding the business restructuring and related one-time charges.”
Numerex develops and markets a range of communications products and services.
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