TLNT-Looks like an interesting company:
This is the 1st qtr earnings release...I do not know how the 2nd qtr will come out but the
first was excellent:
(COMTEX) B: Telenetics Reports First Quarter Results
B: Telenetics Reports First Quarter Results
LAKE FOREST, CALIF. (April 23) BUSINESS WIRE -April 23, 1999--Telenetics
Corp. (OTC BB:TLNT) Friday announced financial results for the first
quarter ended March 31, 1999.
For the three-month period, the company reported net sales of
$3,836,000 as compared with net sales of $960,000 for the three-month
period ended March 31, 1998. The company reported net income of
$400,386 for the first quarter as compared with net income of $44,400
for the three-month period ended March 31, 1998.
Michael A. Armani, chairman and chief executive officer of Telenetics,
stated that, "The substantial increase in net sales reflects a
broadening of our customer base and growing acceptance of our new
product offerings. We are pleased to have been able to achieve record
earnings while dealing with the operational challenges associated with
such a rapid ramp-up in production.
"We believe that our performance during the second quarter of 1999 will
continue to reflect our growth. The recently obtained $3 million line
of credit and $1.1 million in equity funding, will enable us to support
our growth and improve our margins.
"We begin our second quarter with approximately $4 million in backlog
and additional $3 million in pending orders. New market opportunities
are helping to establish Telenetics as a major provider of data
communications solution for the rapidly growing utility & industrial
automation markets."
Telenetics is a leader in the design and manufacture of proprietary
data-communications solutions for utility and industrial automation
applications. Telenetics offers a broad range of industrial grade
dial-up and leased-line modems, cellular modems, fiber optic line
drivers and wireless automated meter reading products.
Forward Looking Statement Disclosure: Certain of the statements
contained in this news release are "forward-looking statements" that
involve risks and uncertainties. Actual future results could differ
materially from these statements. Factors that could cause or
contribute to such differences include but are not limited to,
increased competition within the utility and industrial automation
markets, the inability of the company to fund its expected continued
growth and those discussed in the company's Form 10-KSB for the year
ended Dec. 31, 1998.
For more information, visit www.Telenetics.com.
-0- JS/np* KM/np
CONTACT: Bibicoff & Associates
Harvey Bibicoff or Terri MacInnis (investor relations)
310/446-6360
KEYWORD: CALIFORNIA
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS COMED
TELECOMMUNICATIONS
EARNINGS Today's News On The Net - Business Wire's full file on the
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