Some more:
GAITHERSBURG, Md., Nov. 11 /PRNewswire/ -- The Board of Directors of
Optelecom, Inc. (Nasdaq: OPTC), a leading ISO 9001 certified communications
company, today declared a 50% stock dividend, payable on December 1, 1997 to
shareholders of record at the close of business on November 17, 1997.
Edmund Ludwig, president and chief executive officer, stated "We continue
to utilize our core business strategies which are producing record results.
Our record revenues and earnings for the nine months ended September 30, 1997,
reinforce our commitment to the rapid growth of the Company and validate our
focus on balancing internal investments with current profitability. We are
confident that our strategy for growth, both internal and through
acquisitions, will continue to enhance shareholder value."
For the nine-month period ended September, 1997, revenues increased 46% to
a record $9.38 million from $6.43 million for the same period of fiscal 1996.
Net income for the nine-month period reached a record $830,872, an increase of
55.5% compared to 1996 results of $534,293. Earnings per share for the nine-
month period were $0.64 up from 1996's $0.45 per share, based on 1.297 million
and 1.175 million weighted average shares outstanding for the respective
periods.
Certain statements in this press release, including without limitation,
statements as to the Company's objective to grow through strategic
acquisitions and internal growth, or as to the Company's or management's
beliefs, expectations or opinions, are forward-looking statements that involve
risks and uncertainties and are subject to change at any time.
Optelecom designs, develops and manufactures innovative transmission,
interface and network products. A systems solution provider, Optelecom's
Communication Products Division draws upon the extensive experience of its
science and engineering teams to provide business and government clients with
cost effective, reliable, user-friendly solutions to meet a variety of
communication needs. Optelecom headquarters are located at 9300 Gaither Road,
Gaithersburg, Maryland 20877; telephone 301-840-2121; investors inquiries:
target@erols.com; Web server: optelecom.com.
SOURCE Optelecom, Inc.
CO: Optelecom, Inc.
ST: Maryland
IN: TLS
SU: DIV |
