OPTELECOM REPORTS PRELIMINARY 3Q RESULTS BETWEEN $3.6M-$3.9M
GAITHERSBURG, Md.
Fiber optic-based communications systems provider Optelecom Inc. reports that, based on preliminary financial data, it expects revenue for its third quarter ended Sept. 30 to be within the range of $3.6 million and $3.9 million. Profits on an operational basis are expected to be in the range of 5 cents to 7 cents per fully diluted common share.
Clyde Heintzelman, Optelecom chairman and interim CEO, says the company continues to improve despite the current difficult economic environment. “Throughout the past several quarters, we’ve been aggressively managing costs in all areas, while focusing on quarter-over-quarter revenue growth,” he says. “We want to establish a consistent and sustained pattern of positive financial performance.”
Heintzelman adds that Optelecom created a team called AmericaFirst to respond to and prioritize the shipment of urgently needed products and systems for the technologies and products that are being developed. The company will concentrate on expanding its core business and improving the capabilities of its product line.
To that end, company officials ended plans to acquire Antenna Research Associates Inc. (ARA) of Beltsville, Md., a provider of antennas, electromagnetics and EMC testing and support services.
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