Optelecom’s Q1 Net Income Climbs 80% From Same Quarter in 2002
Optelecom Inc. reports a 6-percent increase in its first-quarter revenue compared to the same quarter last year due to continuing demand for its security communication solutions and electro-optic technology.
The provider of digital video, audio, and data communications equipment reports revenue of $3.5 million, and net income of $368,500, 80-percent more than the same quarter in 2002. Earnings per share for the quarter were 12 cents compared to 7 cents in 2002.
“I’m encouraged that business picked up as the quarter progressed, with March marking a new record for single-month business bookings. Business is strong,” said Edmund Ludwig, Optelecom’s chairman, president, and CEO.
Ludwig adds that the company is preparing its infrastructure to enter into the security, medical, corporate and government markets for networked distribution of video content.
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