Read Larry Connors' blog – Short Term Trading Strategies
In a release dated August 6, the company stated:
- In the third quarter, Telular grew revenues sequentially to $12.4 million and reported income from continuing operations of $596,000 or $0.03 per diluted share and net income of $0.00 per diluted share.
- For the third quarter of 2009, income from continuing operations before non-cash items was $1.1 million. Income from continuing operations before non-cash items is a non-GAAP measure which adds back depreciation, amortization and stock-based compensation expense to income from continuing operations.
- In the third quarter of 2009, Telguard product revenues increased sequentially approximately 30 percent to $4.9 million from $3.8 million. Telguard service revenues increased sequentially to $5.4 million and were up approximately 20 percent from the prior year period. In the third quarter of 2009, Telular sold approximately 34,000 Telguard units and activated approximately 28,000 new Telguard subscribers. Telular had approximately 469,000 Telguard subscribers at quarter end. TankLink and Terminal product sales were $1.7 million in the third quarter of 2009.
- During the quarter, the company completed a modified "Dutch Auction" tender offer through which it accepted for purchase 2,344,857 shares of its common stock, representing approximately 14 percent of Telular's outstanding shares of common stock as of the closing date of the transaction.
"We are pleased with our continued revenue growth, fueled by strong Telguard product sales and an accelerating stream of Telguard service revenue," said Joe Beatty, president and chief executive officer of Telular. "Due to strong demand and the rising trend towards wireless as the primary communications path in security applications, we are raising our Telguard unit sales expectation to range between 30,000 to 35,000 per quarter versus our prior expectation of 20,000 to 25,000 per quarter.
"In the third quarter, we demonstrated strong operational efficiency by continuing to lower expenses, posting profitability from operations and maintaining a strong balance sheet. Additionally, we were pleased with the results of our Dutch Auction, which we believe was a prudent use of cash and an attractive investment for the company. We remain committed to maximizing shareholder value."
((Comments on this story may be sent to newsdesk@closeupmedia.com))
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302
© Copyright 2009 The Connors Group, Inc.
