Security, surveillance solutions provider Ultrak Inc. reports sales for the third quarter ended Sept. 30 were $36.7 million, a decrease of $3.3 million from a year ago. The company says the decline is mainly due to the loss of its Sam’s Club business. However, sales for the third quarter improved $1.3 million, compared to the second quarter, due to improvements in the in the professional video business and retail segments in the United States.

Operating expenses in the third quarter were $12.1 million, compared to $11.1 million during the same period in 2001. This increase included $300,000 in overlapped expenses for new executive management and $200,000 in additional director and legal costs.

Sales for the nine months ended Sept. 30 were $108 million, a decrease of $17 million from a year ago. This decline was mainly due to the loss of the Sam’s Club business, partially offset by increases in the U.S. video business.

Gross profit margins for the nine months were 33.4 percent, compared to 31 percent during the same period in 2001, attributed to new products, better inventory and pricing controls and a more favorable customer mix, according to the company.

Operating expenses for the nine months ended Sept. 30 were $37.5 million, compared to $35.7 million during the same period in 2001, attributed to $700,000 in its Ohio plant closure, $400,000 in severance for the former COO, vice president of marketing and other managers.

Other expenses for the nine months were $2.1 million, compared to other income of $6.4 million for the nine months ended Sept. 30, 2001.

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!

Related Content