Conolog Reports Results for the Fiscal Quarter Ended October 31, 2009
15 Dicembre 2009 - 6:00PM
Business Wire
Conolog Corporation (NASDAQ: CNLGD) announced today the results
for the three months ended October 31, 2009.
Product revenues for the three months ended October 31, 2009
totaled $468,096 representing an increase of 3% compared to the
$456,681 reported for the same period last year. The Company
attributes this to increased order releases.
Product Cost for the three months ended October 31, 2009 and
2008 totaled $196,883 and $104,305 respectively. The overall
Product Cost continues to be contained by the standardizing of
costs to build our new PDR-2000 systems and the continued
outsourcing of assemblies.
Gross Profit for the three months ended October 31, 2009 and
2008 amounted to $271,213 and 352,376 respectively.
Selling, general and administrative expenses for the three
months ended October 31, 2009 amounted to $953,290, an increase of
$434,146 from the same period last year. The Company attributes
this primarily to an increase of $62,334 for professional fees and
services and the amortization (non cash expense) of $336,366 for
the annual stock grant program.
Non-cash non-operating expenses for the three-month period
totaled $72,192 and consisted primarily of expenses related to the
induced conversion cost of $31,208; and $35,411 for amortization of
deferred debenture costs.
As a result of the foregoing, the Company reported a net loss
from operations of ($754,269) or ($.35) per share compared to a
loss of ($559,852) or ($.18) per share for the three months ended
October 31, 2009 and 2008, respectively.
About Conolog Corporation
Conolog Corporation is a provider of digital signal processing
and digital security solutions to electric utilities worldwide. The
Company designs and assembles electromagnetic products to the
military and provides engineering and design services to a variety
of industries, government organizations and public utilities
nationwide. The Company’s INIVEN division is a provider of a line
of digital signal processing systems, including transmitters,
receivers and multiplexers.
Forward-looking statements in this release are made pursuant to
the “safe harbor” provisions of the Private Securities Litigation
Reform Act of 1995. Investors are cautioned that such forward
looking statements involve risks and uncertainties, including,
without limitation, continued acceptance of the Company’s products,
increased levels of competition, new products introduced by
competitors, and other risks detailed from time to time in the
Company’s periodic reports filed with the Securities and Exchange
Commission.
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