TEL AVIV, Israel-Nexus Telecommunications System Ltd. reported revenues of $2.4 million for the fourth quarter ended Dec. 31, which amounts to 16 times the $146,000 it reported for the same period of 1996.
The company reported a quarterly loss of $928,000, a 35-percent improvement compared with a loss of $1.4 million during the same quarter a year earlier. The company said it experienced an “extraordinary non-cash loss” of $5.5 million, attributed primarily to its acquisition of Aptel at the end of 1997.
Annual revenues for 1997 were $5.9 million, nearly eight times more than 1996 revenues of $772,000. The net loss for 1997 was $3.5 million, about a 35-percent improvement from the 1996 net loss of $5.3 million.
Nexus said it currently has a backlog of about $26 million.
