ULTRAK REPORTS 3% RISE IN SALES, ZERO EPS IN 2nd QTR.
Ultrak Inc. announces sales of $53.9 million for the second quarter ended June 30, a 3-percent increase compared to $52.3 million in the same period in 1999, and also a 3-percent increase compared to sales in the first quarter of 2000. Gross profit margins were 30.9 percent, compared to 32.7% in the second quarter of 1999 and 31 percent in the first quarter of 2000. Operating profits were $675,604, compared to a loss of $1.6 million (after special charges of $3.1 million) in the second quarter of 1999 and $149,575 in the first quarter of 2000. Net income for the second quarter was $69,166, compared to a loss of $735,914 the previous year. This resulted in basic earnings per share of zero in the second quarter of 2000, compared with a loss of 7 cents per share in the second quarter of 1999.
Ultrak also announces that Peter Beare has been elected president and COO of the company. The role of president had been vacant since March 1999. Ultrak is a publicly held corporation that designs, manufactures, markets and services innovative electronic products and systems for the security and surveillance, industrial and medical video, and professional audio markets.
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