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News

2Q revenues down on last year for Optelecom-NKF

Optelecom-NKF : 07 August, 2009  (Company News)
Siqura supplier sees sequential increase in quarterly revenue though still down year on year
Optelecom-NKF has announced second quarter 2009 results.

Revenues for the second quarter totaled $10.0 million compared to $11.3 million for the same quarter one year earlier. Revenues increased sequentially from $8.6 million reported in the first quarter this year.

The Company reported a net loss of $127 thousand, or $(0.03) per share, for the quarter ending June 30, 2009, compared to net profit of $24 thousand, or $0.01 per share, one year earlier. Second quarter results improved sequentially from this year's first quarter loss of ($0.21) per share.

Adjusted EBITDA for the quarter (as defined in the addendum to this release) advanced to $662 thousand, compared to $351 thousand for the same quarter last year.

"While we continue to operate in a challenging environment for the end markets we serve, our technology solutions are generating results in the areas where our customers are investing," said Dave Patterson, President of Optelecom-NKF. "In the meantime, we are executing on our vision, developing leading video security and traffic solutions for the government, institutional, and commercial market segments. We've taken steps to manage costs even as we enhance our global competitive position through product development and new partnering relationships. These initiatives will strengthen our manufacturing, sourcing, and distribution capabilities and further improve our innovation, productivity, and ability to meet customer needs."
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