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The market leader in on premesis wireless phone systems looks like it's finally starting to take off. Maybe the stock price will follow. SpectraLink Reports Record Financial Results for the Fourth Quarter 1998 BOULDER, Colo., Feb. 18 /PRNewswire/ -- SpectraLink Corporation (Nasdaq: SLNK - news) today reported increased revenues and earnings for the fourth quarter and year ended December 31, 1998. For the fourth quarter, net sales rose 33 percent to a record $10,010,000, from $7,543,000 a year ago. Reflecting improved gross margin from manufacturing efficiencies and productivity gains in sales, net income increased to a record $1,305,000, compared with $122,000 in 1997. Earnings per share rose to $0.07 per share, from $0.01 per share a year earlier. For the full year, net sales reached a record $35,135,000, up 26 percent from $27,785,000 in 1997. Net income was $2,075,000, or $0.11 per share, compared to a net loss of $560,000, or $0.03 per share. At year end, the balance sheet remained strong with cash and liquid investments totaling $24,915,000. During the fourth quarter, the company repurchased approximately 511,000 common shares, raising total shares repurchased to date to 885,697 shares. ''SpectraLink significantly improved profitability in 1998 while continuing its strong sales growth,'' said Bruce Holland, president and CEO. ''Our financial performance benefited from investments made in sales and manufacturing, the expansion of our product line with the Link 3000 Wireless Telephone System, and an increased demand for in-building wireless solutions. Also contributing to profitability were increased revenues from our business partners and resellers.'' Mr. Holland concluded, ''Our 1999 growth strategy is based on continued product and market leadership, additional strategic partners, and high productivity throughout the organization. We also anticipate the opening of new markets with the introduction of our new Voice-Over-IP wireless system utilizing the 802.11 standard for wireless data networks.'' SpectraLink Corporation is North America's leading producer of wireless telephone systems for the workplace, which provide mobile workers with the ability to place and receive phone calls throughout the enterprise. SpectraLink's products, including fully functional digital handsets, are designed and manufactured in-house and marketed through a direct sales force and through leading business partners and resellers. Customers include prominent firms in health care, retailing, and a broad range of industrial, commercial, and institutional organizations. spectralink.com | ||||||||||||
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