TELULAR REPORTS HIGHER 2nd-QUARTER REVENUE THAN IN 2000
VERNON HILLS, Ill.
Telular Corp. reports second-quarter revenue, ending March 31, of $38.6 million, $28.9 million more than for the same period of fiscal year 2000. The company’s bottom line also improved $9.8 million during the second quarter. Telular earned $8.3 million, or 66 cents per share, during the second quarter, compared with a net loss of $1.5 million, or 12 cents per share, a year earlier.
On a fiscal year-to-date basis, Telular earned $8.5 million, or 67 cents per share, compared with a net loss of $3.9 million, or 33 cents per share, in 2000. The company generated $53.7 million in revenue and earned $8.5 million for the six months ended March 31. “This marks the fourth consecutive quarter with record Fixed Wireless Terminal (FWT) product sales in Latin America and the eighth consecutive quarter of at least double-digit increases in FWT revenues—a 449-percent increase this quarter vs. last year and a 154-percent increase from the first quarter of this fiscal year,” says Kenneth Millard, president and CEO.
Total revenue for the first six months of fiscal year 2001 of $53.7 million compares to $18.7 million for the same period of fiscal year 2000. “Revenue from Latin America [$28.7 million] was especially strong because our customer in Mexico challenged us to ship 66-percent more than the contracted amount during the second quarter; and we met their challenge. Our revenues also benefited from a $4.7 million royalty settlement with Motorola during the quarter,” adds Millard.
Telular designs and manufactures fixed wireless terminals and wireless desktop phones.
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