ULTRAK CITES DIP IN EURO AS A KEY REASON FOR $2.3M LOSS IN QUARTER
LEWISVILLE, Texas
Ultrak Inc. announces sales of $47.3 million for the third quarter ended Sept. 30, compared to $51.3 million in the same period last year. According to the company, the third-quarter revenues reflect the absence of Intervision (U.K.), which was sold last quarter, as well as the sharp drop in the Euro. Adjusting for these items, revenues were up slightly year-over-year. Gross profit margins were 29.7 percent, compared to 30.9 percent in the previous quarter and 32.9 percent in the third quarter of 1999. Operating loss for the third quarter of 2000 was $2.3 million before special charges of $1.4 million, compared to profits of $1.4 million in the third quarter of 1999, and $675,604 in the second quarter of this year.
The special charges were split between costs associated with the severance of management personnel and legal fees incurred with respect to the Detection Systems proxy contest. Ultrak designs, manufactures, markets and services electronic products and systems for the security and surveillance, industrial and medical video, and professional audio markets.
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