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(COMTEX) B: Advanced Electronic Support Products, Inc Reports Profita
B: Advanced Electronic Support Products, Inc Reports Profitable Results For The
Three And Nine Months Ended September 30, 2000
MIAMI, Fla., Nov 14, 2000 /PRNewswire via COMTEX/ -- Advanced Electronic
Support Products, Inc (Nasdaq: AESP AESPW) today announced its results of
operations for the three and nine months ended September 30, 2000. Consolidated
net sales for the nine-month 2000 period were $21.6 million, an increase of $1.6
million, or 7.9%, compared to net sales of $20.0 million for the 1999 nine-month
period. Income from operations for the 2000 nine month period was $907,000, a
decrease of 20.7% compared with income from operations of $1,144,000 for the
same period of 1999. Net income for the first nine months of 2000 was $609,000
($0.15 per diluted share), compared to net income of $848,000 ($0.24 per diluted
share) for the first nine months of 1999.
Consolidated net sales for the third quarter of 2000 were $7.8 million, an
increase of $434,000, or 5.9%, compared to net sales of $7.3 million for the
third quarter of 1999. Income from operations for the third quarter of 2000 was
$347,000, an increase of 11.1% over income from operations of $313,000 for the
1999 third quarter. Net income for the 2000 third quarter was $201,000 ($0.05
per diluted share), compared to net income of $144,000 ($0.04 per diluted share)
for the comparable 1999 period.
"We are pleased to report profitable results for the 2000 three and nine month
periods," said Slav Stein, the Company's President and CEO. "We are continuing
the transition of our Company from primarily a supplier of connectivity products
to a supplier of 'End to End Hardware' for the WAN and LAN networking industry.
We are pleased that even through this transition, we have continued to keep our
Company growing and profitable."
Mr. Stein continued: "Our OEM business in the United States continues to grow,
as we provide our customers with new turnkey products. Recently, we received the
Company's first Underwriters Laboratories Inc.(R) approval for a new power
device used in the Home Networking field. In addition, our Networking Division
continues to expand its products offerings and customer base."
Advanced Electronic Support Products, Inc. designs, manufactures, markets and
distributes network connectivity products and OEM custom products worldwide. The
Company offers a complete line of active and passive networking products for
copper and fiber based LAN and WAN networks.
Safe Harbor Disclosure under the 1995 Securities Litigation Reform Act.
This news release contains forward-looking statements, which involve risks and
uncertainties. The Company's actual future results could differ materially from
the results anticipated herein. For information regarding factors that could
impact the Company's future performance, see the Company's previous and future
filings with the U.S. Securities and Exchange Commission.
For further information, please contact:
Slav Stein, President & CEO
Roman Briskin, Executive Vice President
Roy D. Rafalco, Chief Financial Officer
Advanced Electronic Support Products, Inc.
1810 NE 144 Street
North Miami, Florida 33131
(305) 944-7710
SOURCE Advanced Electronic Support Products, Inc.
CONTACT: Slav Stein, President & CEO, or Roman Briskin, Executive Vice
President, or Roy D. Rafalco, Chief Financial Officer, all of
Advanced
Electronic Support Products, Inc., 305-944-7710
URL: aesp.com
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(C) 2000 PR Newswire. All rights reserved.
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