Numerex Corp. has announced the results of its third quarter of 2001. Revenue was $6.2 million, up from $5.1 million for the same period in 2000. As a result, Numerex reports a net loss of $621,000 or 6 cents per share, compared to a net loss of $1.1 million or 11 cents per share for the third quarter 2000.
Net revenue for the nine-month period ended Sept. 30 was up $2.5 million from 2000, $17.6 million compared to $15.1 million for the same nine-month period in 2000. “We are very pleased with the financial results for the third quarter, especially the 75-percent year-over-year revenue growth in our wireless data division, bringing wireless data revenue comparative growth for the nine-month period to 58 percent.
“While nine-month growth is slightly below our stated 60-percent to 80-percent wireless revenue growth objective for the year, we believe that the third quarter growth trend is sustainable for the remainder of the year and should bring us in line with our stated wireless revenue objective,” says Stratton Nicolaides, chairman and CEO of Numerex.”
Numerex is a technology company that develops and markets wireless data communications products and services. Product lines include Cellemetry®, Data1Source™ and PowerPlay™.
