Vicon Industries Reports 2nd-Quarter Results, $12.8M in Sales
Vicon Industries, a manufacturer of video surveillance systems, reports its financial results for the second quarter, ended March 31. Net sales for the second quarter were $12.8 million, compared with $17.2 million for the same period ended March 31, 2001. The company incurred a net loss of $467,000, or 10 cents per diluted share, compared to a net income of $418,000, or 9 cents per diluted share, for the same period this past year.
Sales for the six-month period ended March 31 were $26.4 million, compared to $34.5 million reported for the same period ended March 31, 2001. A net loss of $814,000, or 18 cents per diluted share, was incurred for the first half of the fiscal year, compared to net income of $2.1 million, or 46 cents per diluted share, for the same period ended March 31, 2001.
Commenting on the second-quarter results, Ken Darby, CEO of Vicon, says, “Sales continue to be affected by the decline ($3.4 million and $7.1 million for the three and six months, respectively) in system sales to the U.S. Postal Service. The lower Postal Service sales are a result of the agency’s year long capital spending freeze and the expiration on June 30, 2001 of Vicon’s four-year exclusive supply contract. International revenues dipped $792,000 to $4.9 million, principally as a result of lower sales in Europe.”
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