First quarter results
Eicon Technology Corporation EIC
Shares issued 33,176,665 Nov 4 close $3.80
Thu 5 Nov 98 News Release
Mr. Peter Brojde reports
Eicon Technology's revenues in the first quarter ended Sept. 30, 1998
reached a record $33.1-million, up 14 per cent from the $29.1-million
reported in the same period last year.
The revenue growth experienced in the first quarter is attributed to solid
gains in the DIVA ISDN product segment. At $15.2-million, ISDN sales were
up 73 per cent from the first quarter last year, maintaining the strong
trend that generated over 50 per cent growth last fiscal year.
Net income for the quarter was $1.0-million, or three cents per share,
compared with $2.1-million, or six cents per share, a year ago. This was
the fifth consecutive profitable quarter since the restructuring that took
place in the fourth quarter of fiscal year 1997. The current quarter
earnings reflect the company's strategy of transitioning from low volume,
high margin products to high volume, low margin products.
Eicon anticipates that the increasing global demand for high-speed ISDN
access and its recent business partnerships with leading global computer
manufacturers such as Compaq, Hewlett-Packard and Dell, will contribute to
continued revenue growth and profits this fiscal year.
|
