"The net profit for the first quarter ended October 31, 2002 is attributed to a reduction in costs and expenses and the sale of the state tax loss for the fiscal year ended July 31, 2002."
Conolog Reports First Quarter Results for Fiscal 2003
-- Reports Profit of $.05 Per Share --
SOMERVILLE, N.J., Dec. 16 /PRNewswire-FirstCall/ -- Conolog Corporation (Nasdaq:CNLG) reported on December 16, 2002 its first quarter results for the quarter ended October 31, 2002.
The Company reported total revenues of $476,067 for the three months ended October 31, 2002 or an increase of 8% compared to revenues of $439,723 reported for the three months ended October 31, 2001. The Company attributes this increase to a minor up swing in economic conditions in our industry.
The Company's Selling, General and Administrative expense for the quarter ended October 31, 2002 was $218,137, this was a $108,607 or 33% decrease for the quarter ended October 31, 2001.
The Company reported for the three months ended October 31, 2002, a net profit of $225,046 or $.05 per share, compared to a net loss of $(472,695) or $(.16) per share for the same period a year ago. The net profit for the first quarter ended October 31, 2002 is attributed to a reduction in costs and expenses and the sale of the state tax loss for the fiscal year ended July 31, 2002.
About Conolog Corporation
Conolog Corporation provides engineering and design services and technical personnel placement to a variety of industries, government organizations, and public utilities nationwide. The Company's INIVEN division manufactures a line of digital signal processing systems, including transmitters, receivers and multiplexers.
Contact: Conolog Corporation: Marc Benou, President, 908/722-8081, or visit www.conolog.com. Investor Relations: National Financial Network, Geoffrey Eiten, 781/444-6100 or 877/385-0977, ext. 613 or email geiten@nfnonline.com, or visit www.nfnonline.com/cnlg.
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SOURCE Conolog Corporation
CO: Conolog Corporation
ST: New Jersey
SU: ERN
prnewswire.com
12/16/2002 08:30 EST |
