TII Network of Brentwood reports profit
TII Network Technologies Inc.,BrentwoodMaker of surge protectors and network interface boxes
Quarter:Ended March 31
Net income: Profit of $463,000, compared with a loss of $232,000 in the same quarter last year.
Net sales: $7.7 million, compared with $5.7 million in the same quarter last year.
Outlook: The company's sales increase "is evidence of the recovering economy and the success of our market share gains achieved in the latter half of 2009," said president and chief executive Kenneth A. Paladino. "Our balance sheet remains strong, and we have built up inventory to satisfy anticipated increased sales levels in 2010."
Company statement: "Our higher gross margin is reflective of a quarter where the factors that affect margin were aligned in our favor. This increase, combined with relatively level operating expenses in each period, drove the nearly $1 million increase in operating income in the current period," Paladino said.
STOCK PRICE: Closed
Tuesday at $1.52 a share, down 4 cents.
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