ADDM otc bb .75...is an example of a cable equipment company that will definitely benefit from the move to digital..I confirmed this with the company last week. Meanwhile, their 6mo numbers are out today and they are looking very good:
(COMTEX) B: ADDvantage Technologies Group, Inc. Reports Second Quarter R
B: ADDvantage Technologies Group, Inc. Reports Second Quarter Results
BROKEN ARROW, Okla., May 13, 2002 /PRNewswire-FirstCall via COMTEX/ --
ADDvantage Technologies Group, Inc. (OTC Bulletin Board: ADDM) today announced
its financial results for the second quarter ended March 31, 2002.
Revenues for the second quarter of fiscal 2002 climbed 22.9% to $5.84 million
from $4.75 million for the same period last year, primarily due to the
acquisitions of NCS Industries and Comtech Services in the second and third
quarters of last year, respectively. Net income applicable to Common Stock for
the current quarter increased 67.4% to $470,000 or $.05 per share, as compared
to $281,000, or $.03 per share, in the prior year.
For the six months ended March 31, 2002, revenues increased 19.4% to $11.43
million from $9.57 million for the same period in 2001, primarily due to the
acquisitions of NCS Industries and Comtech Services. Net income applicable to
Common Stock through the first six months of 2002 increased 23.4% to $822,000,
or $.08 per share, as compared to $666,000 or $.07 per share, in the same period
of the prior fiscal year.
"We are pleased with the results, especially since credit remains tight for
companies within the cable industry," said Ken Chymiak, President of ADDvantage
Technologies Group. "We are in the process of opening a new service and sales
(COMTEX) B: ADDvantage Technologies Group, Inc. Reports Second Quarter R
B: ADDvantage Technologies Group, Inc. Reports Second Quarter Results
BROKEN ARROW, Okla., May 13, 2002 /PRNewswire-FirstCall via COMTEX/ --
ADDvantage Technologies Group, Inc. (OTC Bulletin Board: ADDM) today announced
its financial results for the second quarter ended March 31, 2002.
Revenues for the second quarter of fiscal 2002 climbed 22.9% to $5.84 million
from $4.75 million for the same period last year, primarily due to the
acquisitions of NCS Industries and Comtech Services in the second and third
quarters of last year, respectively. Net income applicable to Common Stock for
the current quarter increased 67.4% to $470,000 or $.05 per share, as compared
to $281,000, or $.03 per share, in the prior year.
For the six months ended March 31, 2002, revenues increased 19.4% to $11.43
million from $9.57 million for the same period in 2001, primarily due to the
acquisitions of NCS Industries and Comtech Services. Net income applicable to
Common Stock through the first six months of 2002 increased 23.4% to $822,000,
or $.08 per share, as compared to $666,000 or $.07 per share, in the same period
of the prior fiscal year.
"We are pleased with the results, especially since credit remains tight for
companies within the cable industry," said Ken Chymiak, President of ADDvantage
Technologies Group. "We are in the process of opening a new service and sales
center in the Atlanta area to enhance our distributor relationship with
Scientific-Atlanta and to better support some of the large multiple system
operators."
"We have continued to expand our sales force by hiring Grant Peterson as
Director of Marketing, who brings over 9 years of experience in working with
multiple system operators' engineering staffs, providing them with the latest
technological products," added Ken Chymiak. "In addition, we have enhanced our
inventory by purchasing the CATV System Equipment that was used during the 2002
Olympic Winter Games. This gives us the opportunity to provide savings to
customers needing the latest in digital equipment."
ADDVANTAGE TECHNOLOGIES GROUP, INC. and its subsidiaries, TULSAT, LEE CATV
Corporation, NCS Industries, Comtech Services and TULSAT -- Texas, comprise an
organization involved in the refurbishment, repair and sale of previously owned
cable television ("CATV") equipment and the distribution of new and surplus
equipment to CATV operators. For more information, please visit the corporate
web site at www.addvantagetech.com or contact the company directly at
918-251-9121.
The information in this announcement may include forward-looking statements. All
statements, other than statements of historical facts, which address activities,
events or developments that the Company expects or anticipates will or may occur
in the future are forward-looking statements. These statements are subject to
risks and uncertainties which could cause actual results and developments to
differ materially from these statements. A complete discussion of these risks
and uncertainties is contained in the Company's reports and documents filed from
time to time with the Securities and Exchange Commission.
ADDvantage Technologies Group, Inc.
Statement of Operations
(Unaudited)
Three Months Ended Six Months Ended
March 3l March 31
2002 2001 2002 2001
Revenues $ 5,843,964 $ 4,754,311 $11,428,693 $ 9,570,993
Operating Income $ 1,235,667 $ 1,057,687 $ 2,311,294 $ 2,263,569
Net Income
Applicable to
Common Stock $ 470,144 $ 280,886 $ 821,924 $ 666,176
Net Income Per
Share of Common
Stock
Basic and Diluted $ .05 $ .03 $ .08 $ .07
Shares Used in
Computing Net
Income Per Share:
Basic and Diluted 9,991,716 10,011,716 9,991,716 10,011,716
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SOURCE ADDvantage Technologies Group, Inc.
CONTACT: Ken Chymiak or David Chymiak, +1-9l8-25l-2887, or Adam Havig,
+1-9l8-25l-9l2l, all of ADDvantage Technologies Group, Inc.
URL: addvantagetech.com
prnewswire.com
Copyright (C) 2002 PR Newswire. All rights reserved.
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KEYWORD: Oklahoma
INDUSTRY KEYWORD: CPR
CSE
OTC
SUBJECT CODE: ERN
OTC
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