Ultrak Fiscal 2001 Sales Down $38M From Prior Year; Releases New Products
Ultrak Inc. reports its results for the fourth quarter and the year ended Dec. 31, 2001. Sales for the fourth quarter ended Dec. 31, 2001 were $37 million, compared to $46 million a year ago. For the year ended Dec. 31, 2001, sales were $162 million, compared to $200 million in 2000.
The company says the decline resulted from the loss of Sam’s Club’s business, the sale of the Industrial Furnace Camera business, the sale of the French CCTV and audio businesses, a worldwide recession and the translation effect of a strong U.S. dollar.
Gross profit margins in the fourth quarter of 2001 were 31 percent, compared to 5 percent in the fourth quarter of 2000, which were materially impacted by a $12.4 million inventory write-down taken as part of the 2000 special charges.
Operating losses were $6.6 million in the fourth quarter of 2001, including a loss of $4.5 million on the sale-and-leaseback of the company’s corporate headquarters building in Lewisville, Texas. Excluding the loss on the headquarters facility, operating losses were reduced to $2.1 million, compared with $7.4 million of operating losses for the same period a year ago (or $49.2 million in operating losses in the fourth quarter of 2000, including the effect of the 2000 Special Charges).
Operating losses were $7.9 million in 2001 (or $3.4 million excluding the loss on the headquarters facility), compared with operating losses of $52 million in 2000 (or $8.9 million excluding the effect of the 2000 special charges).
In other company news, Ultrak has released new products during the first quarter of this year designed to meet government, education, retail, corporate, transportation, and other vertical markets. Products include the release of new access control software enhancements, new CCTV offerings, and the next-generation CCTV dome.
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