Able Telcom Reports Sharply Increased Revenues and Profits for the Second Quarter Ended April 30.. Been watching and waiting to net this one for over a week. PIR reports in line, lost strength, not a play.
WEST PALM BEACH, Fla., /PRNewswire/ -- Able Telcom Holding Corp. (Nasdaq: ABTE - news) today announced record revenues and sharply increased results for its second quarter ended April 30, 1998.
Revenues rose 66 percent to $34,551,839 from $20,871,009 in the 1997 second quarter. The company noted the revenue increases were primarily due to its acquisition of certain assets and liabilities of JEFA Wireless Systems and the acquisition of Patton Management Company, both in the second quarter, as well as increased demand for services in the telecommunications industry.
Income from operations rose to $3,725,461, up 112 percent in the quarter from $1,758,054 in the second quarter last year.
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