Coded Communication (AVL company) revenue declines in a big way!
Coded Communications Corporation (the "Company") (OTC Bulletin Board: CODD) today reported operating results for the second quarter and first half of 1998 ended July 4, 1998.
As previously announced, the Company operated at a loss in the second quarter of 1998. The net loss was $(2,008,000) compared to net income of $214,000 for the prior year's second quarter. Revenue in the second quarter of 1998 was $921,000 compared to revenue of $4,028,000 in the same quarter last year.
For the first six months of 1998, the net loss was $(3,397,000) compared to net income of $335,000 for the same period last year. Revenue in 1998 was $3,025,000, down from revenue of $7,017,000 in the prior year. Included in the net loss for 1998 was a charge of $425,000 for employee termination and separation expense. |
