CSI Wireless record performance

GPS World, April, 2005

CSI Wireless Inc. of Calgary, Alberta, Canada, posted a record CDN $4.3 million (US$3.5 million) in net profits on revenue of CDN $82 million (US $66.5 million) in its fiscal 2004. A 145-percent jump in fourth-quarter consolidated revenues, to CDN $24.5 million from CDN $10 million, accounted for much of the growth.

CSI's GPS Business Unit achieved record fourth-quarter revenues of CDN $7.8 million (US$6.32 million) in 2004, an increase of 42 percent. The company attributed the growth primarily to the continued strength of its Outback product line distributed through partner RHS Inc into the agricultural guidance markets. GPS gross margins for the quarter were 49 percent, compared to 48 percent a year earlier.