YOU ARE AT:Archived ArticlesGLENAYRE SAYS FINANCIALS CREDIT TO WORLD ACTIVITY

GLENAYRE SAYS FINANCIALS CREDIT TO WORLD ACTIVITY

CHARLOTTE, N.C.-Glenayre Technologies Inc. President and Chief Executive Officer Ray Ardizzone pointed to activity in both domestic and foreign markets as responsible for the company’s impressive financial results in the second quarter.

For the three months ended June 30, Glenayre produced net sales of $75 million, an 81 percent increase from $41.5 million in the second quarter 1994.

Income from operations reached $22.5 million for the quarter, a 160 percent increase when compared with $8.6 million a year ago. On a fully diluted basis, earnings per share from continuing operations in the second quarter increased 120 percent, compared with second quarter last year, to 44 cents per share.

“It should be noted that the superior results to date do not include any narrowband PCS (personal communications services),” added Ardizzone. Most of the licensed narrowband PCS providers who have announced equipment vendors, have chosen both Glenayre and Motorola Inc.

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