Tidel Reports New Records for Sales and Shipments
HOUSTON, Oct. 7 /PRNewswire/ -- Tidel Technologies, Inc. (Nasdaq: ATMS - news) today announced its third consecutive quarter of record sales with revenues of $16,090,000 for the three-month period ended September 30, 1999 -- a 94% increase from the $8,496,000 reported for the same quarter a year ago. Likewise, record sales were reported for the fiscal year ended September 30, 1999 with revenues of $45,817,000, representing a 36% increase over the $33,608,000 posted in fiscal 1998. The quarterly and annual amounts each exceeded published estimates for 1999.
Tidel shipped a record 2,742 new ATMs during the three-month period ended September 30, 1999 -- a 166% increase from the 1,030 units shipped in the same quarter of 1998. The unit sales reflect the best quarter ever, surpassing by 42% the previous shipment record of 1,937 ATMs set in the quarter ended June 30, 1999. For the first nine months of calendar 1999, the company shipped a record 6,190 ATMs -- significantly exceeding the 4,324 ATMs shipped for all of calendar 1998.
According to James T. Rash, Chairman and CEO, ''Our current annual run rate exceeds 10,000 units. Order indications continue to be very strong and we do not expect the seasonal downturn normally experienced in the December quarter. Further, our sales outlook for calendar 2000 is very optimistic due to expected growth in the domestic business, the interest expressed to date for our Chameleon product, and our imminent entry into the Latin American and European ATM markets.''
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