Sentry’s Q1 Revenue Down, Working on Restructuring
HAUPPAUGE, N.Y.
Sentry Technology Corp. reports its first-quarter revenue was lower than last year’s quarter due to the timing of orders received from major customers and a weak retail economy.
The company reports $3.6 million for the first-quarter, compared to $4.7 million reported for the same quarter last year. Its net loss for the quarter is $494,000, or 1 cent per share, compared to a loss of $350,000 in the first quarter in 2002.
During this quarter, Dialoc ID Holdings B.V. increased its ownership in Sentry to 51 percent through purchasing more than 4 million shares of newly issued common stock. This is in accordance with the provisions of a share purchase agreement.
“Efforts are ongoing to raise capital,” said Sentry President and CEO Peter Murdoch. He said the company is in negotiations with a potential investment partner to complete a financing transaction, and is working to complete its restructuring.
Sentry designs, manufactures, sells and installs RF and Electro-Magnetic EAS systems and CCTV solutions.
If you enjoyed this article and want to receive more valuable industry content like this, click here to sign up for our FREE digital newsletters!
Security Is Our Business, Too
For professionals who recommend, buy and install all types of electronic security equipment, a free subscription to Commercial Integrator + Security Sales & Integration is like having a consultant on call. You’ll find an ideal balance of technology and business coverage, with installation tips and techniques for products and updates on how to add to your bottom line.
A FREE subscription to the top resource for security and integration industry will prove to be invaluable.