Telrad Returns to Profitability in 2003

Globes correspondent    31 Mar 04   11:00

Telrad Networks has reported a return to profitability in the fourth quarter and all of 2003. Net profit for the fourth quarter 2003 was $100,000 compared to a net loss of $10 million for the fourth quarter of 2002.

Revenue for the fourth quarter were $34.2 million, compared to $34.1 million for the fourth quarter 2002, a slight increase compared with the fourth quarter last year.

Operating profit for the quarter was $900,000 compared to a $9.9 million operating loss in the fourth quarter of 2002.

Net profit for the full year was $1.3 million compared to a net loss of $74.5 million for the same period last year.

Revenues for the full year 2003 totalled $149.8 million, compared to $140.2 million for the same period last year, a 7% increase.

Operating profit for the full year 2003 was $3 million compared to a $35.1 million operating loss for the same period last year, a substantial improvement.

Telrad is part of the Koor Holdings group.

Published by Globes [online] - www.globes.co.il - on Wednesday, March 31, 2004