The company’s income from continuing operations before non-cash items was $937,000
Telular, a provider of wireless access services, has posted a net income of $117,000, or $0.01 per diluted share, for the first quarter of fiscal 2009 ended December 31, 2008, compared to a net income of $1.68m, or $0.08 per diluted share, in the comparable period of fiscal 2008.
For the first quarter of fiscal 2009, the company’s total revenue declined to $10.8m from $19.73m in the corresponding quarter of fiscal 2008. The company’s income from continuing operations before non-cash items was $937,000 for the first quarter of fiscal 2009, compared to $2.9m in the first quarter of fiscal 2008.
Telguard product revenues increased to $3.1m for the first quarter of fiscal 2009 compared to $2.9m in the fourth quarter of 2008. Telguard service revenues were $4.9m compared to $4.7m in the fourth quarter of 2008.
Joe Beatty, president and CEO of Telular, said In the first quarter, we achieved our 10th consecutive quarter of profitability from continuing operations and began recording revenue from our recent acquisition of SupplyNet Communications, a leading wireless tank-level monitoring company. We continue to generate cash and maintain a very strong balance sheet, as we repurchase shares and evaluate new opportunities in the machine-to-machine space to drive future growth.