REMEC Reports Fourth Quarter Fiscal 2001 Financial Results
SAN DIEGO, March 5 /PRNewswire/ -- REMEC, Inc. (Nasdaq: REMC) today
reported its financial results for its fourth quarter and fiscal year ended
January 31, 2001.
Net revenues for the fourth quarter of fiscal 2001 were $75.1 million, an
increase of 49% over the $50.3 million reported in the same period of fiscal
2000. Net income for the fourth quarter of fiscal 2001 was $1.3 million, or
$0.03 per share, compared with net income of $0.7 million, or $0.02 per share
for the fourth quarter of fiscal 2000.
Net revenues for the twelve months ended January 31, 2001, were
$273.5 million, up 45% over the $189.2 million for the twelve months ended
January 31,2000. Net income for the twelve months ended January 31, 2001 was
$10.9 million, or $0.24 per share, compared with a net loss of $6.7 million,
or $0.18 per share for the twelve months ended January 31, 2000.
Historical earnings per share information has been adjusted to reflect the
50% stock dividend distributed on June 30, 2000.
REMEC OVERVIEW
REMEC is a leading designer and manufacturer of high frequency subsystems
used in the transmission of voice, video and data traffic over wireless
communications networks and in defense electronics applications.
FOR MORE INFORMATION
Management will be holding a conference call to discuss quarterly earnings
today at 2 PM PST. To participate on the conference call, within the U.S.,
please call (800) 289-0436, confirmation code #424019. From outside the U.S.,
please call (913) 981-5507, confirmation code #424019, 10 minutes prior to the
scheduled time of the call. You may access the conference call via a web
broadcast on www.vcall.com.
The rebroadcast number, which will play for seven days, is (888) 203-1112,
confirmation code #424019. |
