| Optelecom-NKF, Inc. 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™, 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 organisation 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."