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Written by Mike Buetow
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Tuesday, 31 March 2009 08:54 |
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TORONTO -- EMS firm Adeptron Technologies today fourth quarter sales rose 31% year-over-year to $13 million. Gross profit rose 40% to $1.9 million. Net income swung to a $600,000 profit, versus a net loss of approximately $5.9 million a year ago.
"The fourth quarter of 2008 was by far one of the most successful quarters in the history of Adeptron, despite the deterioration of global economic conditions and builds upon the profitable third quarter of 2008," said F. Michael Marti, president and chief executive. "Our sales in the fourth quarter of 2008 compared to sales in the third quarter of 2008 showed a dramatic upswing." For the quarter, gross profit as a percentage of sales was 14.7% compared to 13.7% for the same period in 2007. Revenues increased 11% to approximately $42.6 million for the year ended Dec. 31, driven by new customer wins and a diversified customer base. The net loss was $900,000, up from a net loss of $6 million in 2007.
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