Optelecom-NKF has reported revenue of $13 million for its fourth quarter ended December 31, 2007, an increase of 20% compared to revenue recorded in the same quarter of 2006.
Gross profit increased to $7.6 million, an increase of 10% for the three months ended December 31, 2007. The company reported net income of $873,000, or $0.24 per diluted share for its fourth quarter 2007. This compares to net income of $770,000, or $0.22 per diluted share for the fourth quarter of 2006, which included a tax benefit of $288,000, or $0.08 per share.
Operating income for the quarter increased to $1.4 million compared to $776,000 reported for the fourth quarter in 2006. Operating expenses were $6.1 million for the quarter ended December 31, 2007. This compares to an equivalent $6.1 million in the fourth quarter of 2006.
Revenue for the full year 2007 also set a record, increasing 8% to $42.5 million, up from $39.5 million in 2006. Net income for 2007 totaled $1.3 million, or $0.37 per share. This is a decline from 2006 reported net income of $1.6 million, or $0.44 per diluted share.
Edmund Ludwig, president and CEO of Optelecom-NKF, said: Our strong performance highlights the traction our business model is gaining as we expand our product lineup, leverage our game-changing IP technologies, and maintain a disciplined cost management approach.
