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The market leader in on premesis wireless phone systems
looks like it's finally starting to take off. Maybe the
stock price will follow.
SpectraLink Reports Record Financial Results for the Fourth
Quarter 1998
BOULDER, Colo., Feb. 18 /PRNewswire/ -- SpectraLink Corporation
(Nasdaq: SLNK - news) today reported increased revenues and earnings
for the fourth quarter and year ended December 31, 1998.
For the fourth quarter, net sales rose 33 percent to a record
$10,010,000, from $7,543,000 a year ago. Reflecting improved gross margin from manufacturing efficiencies and productivity gains in
sales, net income increased to a record $1,305,000, compared with
$122,000 in 1997. Earnings per share rose to $0.07 per share, from
$0.01 per share a year earlier.
For the full year, net sales reached a record $35,135,000, up 26
percent from $27,785,000 in 1997. Net income was $2,075,000, or $0.11
per share, compared to a net loss of $560,000, or $0.03 per
share. At year end, the balance sheet remained strong with cash and
liquid investments totaling $24,915,000. During the fourth quarter,
the company repurchased approximately 511,000 common shares,
raising total shares repurchased to date to 885,697 shares.
''SpectraLink significantly improved profitability in 1998 while
continuing its strong sales growth,'' said Bruce Holland, president
and CEO. ''Our financial performance benefited from investments made
in sales and manufacturing, the expansion of our product line with the
Link 3000 Wireless Telephone System, and an increased demand for
in-building wireless solutions. Also contributing to profitability
were increased revenues from our business partners and resellers.''
Mr. Holland concluded, ''Our 1999 growth strategy is based on
continued product and market leadership, additional strategic
partners, and high productivity throughout the organization. We also
anticipate the opening of new markets with the introduction of our
new Voice-Over-IP wireless system utilizing the 802.11 standard for
wireless data networks.''
SpectraLink Corporation is North America's leading producer of
wireless telephone systems for the workplace, which provide mobile
workers with the ability to place and receive phone calls throughout
the enterprise. SpectraLink's products, including fully functional
digital handsets, are designed and manufactured in-house and marketed
through a direct sales force and through leading business partners
and resellers. Customers include prominent firms in health care,
retailing, and a broad range of industrial, commercial, and
institutional organizations.
spectralink.com |
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