Icron Reports Third Quarter Results
BURNABY, BC,
Highlights for Third Quarter of 2009: - Revenues of $2,706,598, representing a 17.8% increase over Q3 2008; - Posted product margins of 51.4% compared to 49.9% in Q3 2008; - Recorded a net loss of $98,646 compared to a net loss of $55,616 for Q3 2008; - Generated $116,227 in cash flow from continuing operations; - Announced the hiring of Silicon Valley Veteran Robert Haefling as its new President and CEO.
Management's Comments:
"We are very pleased with our financial performance which resulted in another quarter of record revenues and improved gross margins in an economically challenging business climate," stated Robert Haefling, President and CEO. "Icron continues to make traction in our core markets, exemplified by our 18 percent year-over-year revenue growth; and combined with our technology developments, demonstrates that we are executing on our strategy. We are optimistic for both our immediate and long-term future."
Third Quarter Financial Highlights
Revenue
Sales were up 17.8% to a record
Gross margin amounted to
Our net loss for the quarter amounted to
For complete financials please visit www.sedar.com or www.icron.com.
Conference Call/Web-cast:
Icron Technologies will be having a conference call hosted by Robert Haefling, President and CEO and
http://www.newswire.ca/en/webcast/viewEvent.cgi?eventID=2865060 in your web browser. The webcast will be available in archive for 90 days.
A replay of the conference call will be available until
About Icron Technologies Corporation
Icron Technologies is a visionary leader in high performance PC and USB extension solutions for commercial and industrial markets worldwide. Icron's USB extension products are deployed in a wide range of applications including: digital home connectivity, industrial automation, medical imaging, aerospace, and KVM extension. Icron's patented ExtremeUSB(R) technology extends the range of USB 2.0/1.1 over Cat 5, Wireless, Fiber and Powerline at distances of up to 25 miles (40 km). ExtremeUSB technology is available in a variety of formats including branded and private-label products, OEM modules and developer kits.
Icron is a publicly traded corporation and trades under the symbol "IT" on the TSX Venture Exchange. For more information on the company and its products, please visit www.icron.com.
FORWARD-LOOKING STATEMENTS: Except for statements of historical fact, all statements in this news release - including, without limitation, statements regarding financial estimates and future plans and objectives of Icron - are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
%SEDAR: 00011716E
For further information: Robert Haefling, President and CEO, [email protected], Phone: (604) 638-3924
Share this article