Odetics Reports 2Q Financial Results


Security and data management provider Odetics Inc. reports its financial results for the second quarter ended Sept. 30. The company reports a loss from continuing operations of $2.6 million, or 18 cents per share, compared with a loss of $4.3 million, or 41 cents per share, reported for the second quarter in 2001.

For the second quarter ended Sept. 30, Odetics’ net sales and contract revenues were $13.7 million, compared with $16 million reported in the second quarter of the previous fiscal year. Revenues in the second quarter of the previous fiscal year included $3.4 million of sales from the company’s former Gyyr CCTV product line, which was sold during the quarter ended Sept. 30, 2001.

Greg Miner, CEO of Odetics, says despite tough business conditions, “overall revenues on our base business increased approximately 9 percent compared to the second quarter of 2001, and each of the Odetics reporting segments posted continued year over year growth in the current quarter.”

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