PTIX - today announced that 1998 was the sixth consecutive year of record breaking financial results and its third consecutive record earnings year as a publicly traded company.
Strong customer demand for Wide Area Network communications products drove fourth quarter revenue to a new record high of $8,883,000, compared to revenue of $7,757,000 in the fourth quarter of 1997. Diluted earnings per share for the fourth quarter 1998 increased 44% to $.26 per share, compared to $.18 in the fourth quarter of 1997. Net income for the fourth quarter increased 39% to $1,973,000, from $1,417,000 for the same period in 1997.
Diluted earnings per share for 1998 amounted to $.76 compared to $.68 in 1997 and net income increased in 1998 to $5,783,000, from $5,131,000 in 1997, an increase of 13%. Revenue for 1998 was $30,202,000, compared to $30,336,000 for 1997.
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