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By student013

Posted: Tuesday May 18 8:22:30AM 2004

This is a company which has spent last year to reorganize itself. They seem to have really done good work, posting a net income in the last quarter. They are forecasting positive earning for 2004. It is trading in the 0.12-0.15$. Results for Q1 should come out anytime now. Here is some information taken from a recent post. Quarter Ended December 31, 2003 Operating Income before special items in the fourth quarter improved by $1.4 million to $185,000 from a loss in the previous year of $1.2 million. After special items, the comparable result in the fourth quarter of 2003, was operating income of $337,000 versus a loss of $2.3 million in the same quarter in 2002. Net income in the fourth quarter was $132,000 versus a loss of $2.0 million in the fourth quarter of the previous year. The effect of the changes, which were put in place earlier in the year were evident with the significantly improved results. Revenues in the fourth quarter were $14.8 million, which was virtually the same in the fourth quarter of the previous year. The focus on enhancing current operations had a positive impact on gross margins as they improved significantly to $3.0 million or 20.5% of sales from $2.6 million or 17.8% of sales in 2002. Outlook for 2004 The Company is forecasting revenue for 2004 to be in the same range as 2003, of between $57 to $60 million. As well, the Company is anticipating net income for 2004 to be in the $350,000 to $400,000 range. The Company continues to rationalize operations, which include expanding product lines, discontinuing redundant and low margin lines and improving staff effectiveness and efficiencies.

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