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News

Reduced 3rd quarter earnings at Optelecom-NKF

Optelecom-NKF : 09 November, 2009  (Company News)
Release of Siqura TrafficServer during third quarter expected to boost future performance after declining revenues in 2009
Revenues for the third quarter ending September 30, 2009 totalled $8.3 million compared to $11.5 million for the same quarter in 2008. Operating expenses in the quarter declined 12%, falling to $5.6 million. Optelecom-NKF reported a net loss of $1.3 million, or $0.35 per share, compared to a net profit of $1.0 million, or $0.28 per share, one year earlier.

"Our third quarter results were disappointing, as we continued to feel the impact of a difficult economy and sluggish business development environment," said Dave Patterson, Optelecom-NKF's president and CEO. "We're monitoring our business pipeline and doing what is necessary to navigate through these tough times. We reduced staff significantly and implemented additional cost-saving measures. These decisions are tough to make, but necessary."

'During the past quarter we introduced the Siqura TrafficServer, which promptly took top honours for innovation from the world's largest security association, ASIS International. We partnered with mobiDEOS to offer remote monitoring and video surveillance via handheld devices, such as PDAs. We joined the EDGE Innovation Network, a collaborative organization of industry and academia that works to enhance the development and delivery cycle of new technologies and advanced capabilities to military personnel and the emergency services. Additionally, we unified our entire product line under the Siqura brand name reflecting our unique ability to integrate all of our products into solutions that deliver actionable information."
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