7 May 2008

Optelecom-NKF, Inc. recently announced results for its first quarter ended March 31, 2008

Optelecom-NKF, Inc., a leading global supplier of advanced video surveillance solutions, recently announced results for its first quarter ended March 31, 2008. 

Revenue for the quarter advanced to $10.5 million, an increase of 19% compared to the same quarter last year.  Gross profit increased to $6.5 million, up 31% for the three months ended March 31, 2008.  Operating expenses were $5.9 million for the quarter ended March 31, 2008 compared to $5.0 million in the first quarter of 2007.

Income from operations for the current quarter increased to $512 thousand compared to a loss from Operations of $51 thousand reported for the first quarter in 2007.  After including interest expense and income taxes, the company reported net income of $148 thousand, or $0.04 per diluted share, for the first quarter of 2008.  This compares to a net loss of $258 thousand, or ($0.07) per diluted share, for the first quarter of 2007.

"We reported solid first quarter 2008 sales marking our third straight quarter of double digit growth," said Edmund Ludwig, Optelecom-NKF's President and CEO.  "Our markets are currently witnessing a key technological transition toward network-enabled surveillance solutions.  The jump in sales for what is our seasonally slowest quarter demonstrates the increased momentum of our business."

"Revenue for the first quarter increased 19% with growth in both our domestic and international markets," added Steven Tamburo, Optelecom-NKF's Chief Financial Officer.  "We continue to experience strong acceptance of our global IP surveillance products and solutions.  Our recent addition of a Siqura® camera line demonstrates our product development capability in these rapidly growing markets."