Optelecom-NKF Reports Q3 2009 Results
GERMANTOWN, Md., Nov. 4 -- Optelecom-NKF, Inc., (NASDAQ:OPTC) a leading global supplier of advanced video surveillance solutions, today announced its third quarter 2009 results.
Revenues for the third quarter ending September 30, 2009 totaled $8.3 million compared to $11.5 million for the same quarter in 2008. Operating expenses in the quarter declined 12%, falling to $5.6 million. Optelecom-NKF reported a net loss of $1.3 million, or $0.35 per share, compared to a net profit of $1.0 million, or $0.28 per share, one year earlier.
"Our third quarter results were disappointing, as we continued to feel the impact of a difficult economy and sluggish business development environment," said Dave Patterson, Optelecom-NKF's president and CEO. "We're monitoring our business pipeline and doing what is necessary to navigate through these tough times. We reduced staff significantly and implemented additional cost-saving measures. These decisions are tough to make, but necessary."
"During the past quarter we introduced the Siqura® TrafficServer(TM), which promptly took top honors for innovation from the world's largest security association, ASIS International. We partnered with mobiDEOS to offer remote monitoring and video surveillance via handheld devices, such as PDAs. We joined the EDGE® Innovation Network, a collaborative organization of industry and academia that works to enhance the development and delivery cycle of new technologies and advanced capabilities to warfighters and first responders. Additionally, we unified our entire product line under the Siqura® brand name reflecting our unique ability to integrate all of our products into solutions that deliver actionable information."
Third Quarter Conference Call
President and CEO Dave Patterson and Optelecom-NKF's CFO Steve Tamburo will lead a conference call to discuss third quarter results and the company's outlook at 10:00 a.m. (Eastern Time) on Thursday, November 5, 2009. Interested parties are welcome to call 800-860-2442 (international dial-in: 412-858-4600) and request the "Optelecom-NKF conference call'' shortly before the designated start time. PRNewswire will broadcast the call as a web cast, which can be accessed at www.videonewswire.com/event.asp?id=63475. The telephone conference call will feature a question and answer segment with Optelecom-NKF's management. For those parties unable to participate in the live conference call, a replay will be available following the teleconference. Those wishing to listen to the replay should call 877-344-7529 (international dial-in: 412-317-0088) and enter the pass code number 435223.
About Optelecom-NKF
Optelecom-NKF, Inc., manufacturer of Siqura® advanced video surveillance solutions, provides a full range of network products based on an open technology platform that simplifies integration and installation. Our Siqura solutions offer a perfect blend of ease of use and processing power, enabling end-users to optimize the effectiveness of their surveillance systems while reducing the total cost of ownership. All products and solutions are developed and tested for professional and missioncritical applications, such as at highway departments, airports, seaports, casinos, public transport authorities, hospitals, city centers, shopping centers, military bases, and corporate and government campuses. Founded in 1972, Optelecom-NKF is committed to providing its customers with expert technical advice and support. For more information please visit our website at www.optelecom-nkf.com.