Business Services Industry
Florida Telecommunications Firm Posts Revenue, Losses Increase in 2001.
Knight Ridder/Tribune Business News, April, 2002
By Christopher Cole, The Bradenton Herald, Fla. Knight Ridder/Tribune Business News
Apr. 2--MANATEE COUNTY, Fla.--Teltronics Inc. saw its revenue rise by nearly 50 percent last year but lost several million dollars, mostly from acquisition and debt costs.
Nasdaq officials delisted the company's stock at the close of business last week, relegating it to the over-the-counter bulletin board, a less prestigious exchange.
One of Manatee County's biggest employers, the publicly-held telecom reported a loss of $6.7 million on sales of $64.1 million in the year.
Teltronics' revenue gain represented 48.3 percent, but gross profit fell from 47 percent in 2000 to 35.4 percent last year.
The net loss translated into $1.38 a share...
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