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Business Summary Tridex Corporation, through its subsidiaries Ultimate Technology Corporation and Progressive Software, Inc., and its Tridex Ribbons Division, is a designer, developer, manufacturer, marketer and integrator of high quality, specialized software and hardware systems and components for the point-of-sale (POS) industry. Ultimate designs, manufactures and sells customer displays, keyboards and, terminal devices for POS applications. Progressive offers three lines of high quality POS and back office software systems for the restaurant industry: IRIS Quick Serve and IRIS Full Serve, both Windows NT-based applications, and SMART 2, a DOS-based application on a Windows NT platform. The Tridex Ribbons Division is a designer, developer, manufacturer, marketer and integrator of high quality software and hardware systems and components for the point-of-sale industry and ribbon cartridges for specialty dot matrix printers. Financial Summary Tridex, Inc. designs, develops, manufactures, integrates and sells custom-designed terminal devices, customer displays, and other peripheral devices used at the retail point-of-sale. For the nine months ended 9/30/99, net sales increased 56% to $48 million. Net loss decreased 82% to $2.4 million. Revenues reflect the Progressive acquisition and greater shipments of Ultimate's products. Lower losses also reflect the absence of a $17.6 million in-process software charge. | ||||||||||||
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