Torrance-based AcuNetx, a maker of sobriety recording equipment for law enforcement agencies, reported Thursday that its revenues and earnings advanced in the third quarter.
AcuNetx, Inc. (OTCBB:ANTX) credited its product placement efforts for boosting sales and profits in the quarter ending Sept. 30.
Among the facts highlighted by its earnings report:
1) Revenues during the first nine months of 2007 were $2,230,706, compared to $1,420,068 for the corresponding period in 2006, a 57 percent increase.
2) Unit shipments increased to 82 units during the first nine months of 2007, up from 51 for the first nine months of the prior year, a 60.7 percent increase.
3) Gross profits increased 68.4 percent
4) Total operating expenses decreased by $1,377,231 (36.5 percent) from $3,661,816 during the first nine months of 2006 to $2,324,585 during the first nine months of 2007.
5) Decreased selling, general and administrative expenses resulted in a declining loss of $559,257 for the nine months ended Sept. 30, compared to a loss of $2,637,573 for the same period in the previous year.
"The initiatives we implemented in the first half of 2007, initiatives calculated to increase sales, decrease operating expenses, and take advantage of opportunities within our IntelliNetx division, as well as with our subsidiaries, are paying off. The company is healthy and growing," said Ron Waldorf, CEO of AcuNetx.
AcuNetx markets a diverse line of diagnostic, analytical and therapeutic tools for medical and law enforcement applications.
For more information, go to the company's Web site
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