obviously i like the money they are making here but the exciting part of the growth to come should be from the DSL focus..and even more earnings per sh.
Telebyte Reports Third Quarter Results
GREENLAWN, N.Y.--(BUSINESS WIRE)--Nov. 14, 2000--Telebyte Inc. and its subsidiary (OTC BB: TBTI - news), a manufacturer of data communications equipment, today released its financial results for the quarter ended September 30, 2000.
Telebyte reported revenues for the nine months ended September 30, 2000 of $4,874,014, an increase of 18% as compared to $4,143,801 for the similar period in 1999. Income for the nine months ended September 30, 2000 was $495,431 or $.31 diluted per share, an increase of 106% as compared to $240,828 or $.18 diluted per share for the same period in 1999. Revenues for the third quarter ended September 30, 2000 were $1,621,109, an increase of 15% as compared to $1,415,555 for the similar period in 1999. Income for the third quarter ended September 30, 2000 was $145,523 or $.09 diluted per share, an increase of 13% as compared to $128,313 or $.10 diluted per share for the same period in 1999.
Dr. Kenneth S. Schneider, Telebyte's Chairman and Chief Executive Officer stated `` We are pleased with the increase in revenues and income during the 3rd Quarter.'' Dr. Schneider said that the increase is principally due to the growth of sales of the Company's Digital Subscriber Line test equipment. Dr. Schneider noted, ``During the 3rd Quarter the Company has continued its strategy for strengthening its Digital Subscriber Line test equipment line with the introduction of its multi-line local loop simulator, the Model 458. Furthermore, Telebyte has recruited Mr. Jim Wright to serve as Vice President, Chief Marketing Officer Broadband products. Mr. Wright, with over 30 years in the telecommunications industry is now leading the sales, marketing and product planning functions for the Broadband product Line.''
Telebyte, Inc. and Subsidiary (TBTI)
Statement Of Earnings (Unaudited)
Three Months Ended Nine Months Ended
September 30, September 30,
2000 1999 2000 1999
---------- ---------- ---------- ----------
Net Sales: $1,621,109 $1,415,555 $4,874,014 $4,143,801
Income Before Taxes: $ 226,903 $ 205,915 $ 797,311 $ 388,430
Income Tax Provision: $ 81,380 $ 77,602 $ 301,880 $ 147,602
Net Income: $ 145,523 $ 128,313 $ 495,431 $ 240,828
Earnings Per Share:
Basic $ .12 $ .10 $ .40 $ .19
Diluted $ .09 $ .10 $ .31 $ .18
Average Shares
Outstanding:
Basic 1,253,631 1,248,631 1,252,404 1,266,718
Diluted 1,574,366 1,341,965 1,594,512 1,310,385 |
