Optelecom, Inc. Expects to Report Record Revenues For 1997 Fourth
Quarter and Year
GAITHERSBURG, Md., Feb. 4 /PRNewswire/ -- Optelecom, Inc. (Nasdaq: OPTC
- news), today announced that it expects to report revenues of at least
$3,000,000 and $12,000,000 for the fourth quarter and year ended
December 31, 1997, respectively, as compared to $2,477,185 and
$8,910,263 for the fourth quarter and year ended December 31, 1996.
Anticipated revenues for the fourth quarter represent an increase of at
least 22% over the same period last year, 34% for the full year.
Edmund Ludwig, president and CEO, commented, ''Strong trends in our core
communications equipment business lead us to forecast these record
revenues. We also anticipate significant profitability for the fourth
quarter despite expected nonrecurring charges related to the acquisition
of Paragon Audio Visual Ltd. in December. This acquisition will help
drive top-line growth in the years ahead.''
Optelecom added that it expects to report complete results for the 1997
fourth quarter and full year by mid-March. |
