GAITHERSBURG, Md., March 31 /PRNewswire/ -- Optelecom, Inc.
(Nasdaq: OPTC), today announced record revenues for the fourth quarter ending
December 31, 1997. Fourth quarter net income totaled $117,857 or $0.06 per
share on revenues of $2,889,442 compared to 1996's net income of $187,790 or
$0.10 per share on revenues of $2,477,189. Results for the fourth quarter
include one-half month of operations, certain non-recurring charges and
reflect a 9.2% increase in shares related to the December 12 acquisition of
Paragon Audio Visual Ltd. of the United Kingdom.
Net income for all of 1997 increased 31% to a record $948,729 or $0.48
diluted earnings per share, while revenues grew 38% to a record $12,271,057.
For the prior year, net income was $722,081 or $0.39 per share. Revenues for
1996 totaled $8,910,263.
Results for the Three Months and Twelve Months Ended December 31, 1997
Three Months Twelve Months
Ended Ended
December 31, 1997 December 31, 1997
Revenue $2,889,442 $12,271,057
Net Income $117,857 $948,729
Basic Earnings Per Share $0.06 $0.51
Diluted Earnings Per Share $0.06 $0.48
Weighted Average Number of Common Shares
and Common Share Equivalents Outstanding 2,027,233 1,989,631
Edmund Ludwig, president and chief executive officer said, "l997 was an
outstanding year of growth for Optelecom. We completed a major international
acquisition and increased our presence in the global trading floor systems
market. We opened our new engineering and product development center. We
expanded our manufacturing capacity. We issued our first stock dividend and
we achieved record financial results. We significantly increased our
capability to take advantage of the favorable trends for increased
communication bandwidth demand in our major markets."
Certain statements made herein are forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. Investors
are cautioned that all forward-looking statements involve risks and
uncertainties including, without limitation, risks related to market
acceptance of and demand for the Company's products and services by customers.
Actual future results and trends may differ materially depending on a variety
of factors, including, but not limited to, the risks discussed in documents
filed by the Company with the Securities and Exchange Commission. Investors
are encouraged to consider the risks detailed in those filings.
Optelecom, Inc. a leading ISO 9001 certified communications and
optoelectronics company, designs, develops and manufactures innovative fiber
optic transmission, interface and network products. A systems solution
provider, Optelecom's Communication Products Division draws upon the extensive
experience of its science and engineering teams to provide business and
government clients with cost effective, reliable, user-friendly solutions to
meet a variety of communication needs. Optelecom headquarters are located at
9300 Gaither Road, Gaithersburg, Maryland 20877; telephone 301-840-2121; Web
server: optelecom.com.
SOURCE Optelecom, Inc.
/CONTACT: Rick Alpert of Optelecom, 800-948-7872, fax, 301-948-3482, or
e-mail, target@erols.com/
/Web site: optelecom.com
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