Gradual improvement for Inventronics

Edited by the Electronicstalk editorial team Sep 21, 2004

Inventronics has released details of its 2004 second-quarter financial results.

Inventronics has released details of its 2004 second-quarter financial results.

Sales were $3,437,000 in the second quarter of 2004, an improvement of 5% over the $3,264,000 recorded in the first quarter, but a slight decrease compared to the $3,531,000 recorded in the second quarter of 2003.

Telecommunications industry spending, Inventronics' principal market, continued to recover at a very modest pace from its prolonged downturn.

Inventronics' 2004 second-quarter EBITDA of $226,000 was nearly 50% greater than its EBITDA of $155,000 in the same period of 2003, and of $151,000 in the first quarter of 2004.

The $198,000 net loss for the second quarter of 2004 was a 25% reduction from the loss of $266,000 ($0.04 per share) in the same period of 2003, and the $269,000 loss ($0.04 per share) in the first quarter of 2004.

"We are working our way back to profitability as the telecommunications industry slowly rebounds", said Dan Stearne, Inventronics' President and CEO.

"We achieved dramatic cost reductions in 2002 and 2003 that positioned us to capitalise on revenue increases that are very gradually occurring in 2004, and that we expect will accelerate as market conditions improve".