looks like a good year coming
Sensytech, Inc. Announces First Quarter Earnings
NEWINGTON, Va.--(BUSINESS WIRE)--Feb. 11, 2002--Sensytech, Inc. (Nasdaq SmallCap Market:STST), announced today earnings for the first three months ended December 31, 2001 of $413,000 or $.10 per share on revenue of $4,409,000, compared to earnings of $307,000 or $.08 per share on revenues of $4,265,000 for the three months ended December 31, 2000.
Earnings increased 34% for the quarter, in line with management's expectations.
S. Kent Rockwell, CEO and President of Sensytech, Inc., stated ``We experienced a slight increase in revenue on higher margin contracts from both domestic and international clients in comparison to our performance from the same period last year.
The most significant improvement in both revenue and profitability was in the communications and imaging groups as order activity increased for their products and services. The electronic warfare group has experienced some delays in contract awards for which, in some cases, we have been notified of our selection as the supplier of choice.
We expect these delays to be resolved in the coming quarter as final client approvals are obtained.
Funded backlog continues to improve as order activity increases and we expect this trend to continue for the balance of the year. The recent acquisitions will further expand our product line offerings domestically and open up new international clients where existing contract relationships are already in place.`` |
