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SpectraLink Reports Outstanding Earnings Growth of 83% With Record High Revenue for Second Quarter 2001
July 19, 2001 4:02:00 PM ET
BOULDER, Colo., July 19 /PRNewswire/ -- SpectraLink Corporation SLNK today reported outstanding earnings growth with record-high revenue for the second quarter of 2001. Earnings for the quarter were $2.1 million, or $0.11 per diluted share, compared to earnings of $1.3 million, or $0.06 per diluted share, in the second quarter of 2000. This represents an 83% increase in earnings per share, quarter-over-quarter, year-over-year. Quarterly revenue reached record levels at $16.6 million. This represents a 30% increase over second quarter 2000 revenue of $12.8 million.
For the six months ended June 30, 2001, earnings per diluted share were $0.19 on net income of $3.9 million resulting in an exceptional 75% increase in net income over this time last year. Revenue for the six months ended June 30, 2001, was $30.6 million compared to $24.4 million for the same period a year ago.
"We've started the year with very strong growth in our business," said Bruce Holland, SpectraLink's president and CEO. "This is the second quarter in a row where earnings per share have grown at 80% or more over the prior year. In spite of these difficult economic times, our revenue growth has significantly accelerated over the first quarter of this year. When I reflect on the fundamentals of our business, I am particularly pleased with our strong positive cash flow, noteworthy strategic partnerships, and superior earnings growth with record high revenue. This outstanding performance was recently highlighted by Fortune Magazine when SpectraLink Corporation was recognized as the fastest growing small business in Colorado, and the 15th fastest growing small business in the U.S.!"
SpectraLink continues to form top-tier relationships in North America and Europe to further expand sales into a huge potential market for workplace wireless voice solutions that remains largely under-penetrated. This quarter we had two significant announcements that will help us grow sales for years to come. The first announcement was the expansion of Siemens as a global distributor of our products. Siemens has been distributing our Link system in North America for more than a year, but beginning this quarter, they will also distribute our NetLink system globally. The second noteworthy announcement is a partnering with Avaya to offer SpectraLink's NetLink system to Avaya's current and future customers. We view these two developments as key growth opportunities for our 802.11 compatible NetLink product.
Webcast Information
SpectraLink will hold an audio webcast to discuss second quarter 2001 earnings results, as well as guidance for the remainder of 2001 and 2002, today, July 19th, at 4:15 p.m. Eastern Time. You can access the webcast and replay at spectralink.com.
About SpectraLink
SpectraLink Corporation SLNK is the leading manufacturer and provider of wireless telephone systems for the workplace in North America. Headquartered in Boulder, Colo., SpectraLink has more installed systems and accumulated more experience and application knowledge than any other provider. SpectraLink distributes its products through industry-leading service, equipment and application providers, cultivating a vast customer base among industries including retail, education, healthcare, manufacturing, finance, information systems and telecommunications. For more information, call 1-800-676-5465, or visit spectralink.com. |
