Optelecom sales climb
By SSN Staff
Updated Thu August 18, 2005
GERMANTOWN, Md.--Optelecom-NKF, an IP video provider, announced in August that revenue in the second quarter, which ended June 30, soared.
The company reported $9 million in sales compared to $4.2 million for the same time last year, representing a 111 percent increase. It's operating income increased 128 percent to $1 million from $448,752 in second quarter 2004. Net income for the quarter also jumped 61 percent, to $487,839 from $303,431.
Optelecom acquired NKF Electronics, a similarly focused business, earlier this year. Company officials credited the merger as one of the reasons for its second quarter success.
"We expanded our global network of integrators and resellers, cross-sold product suites and solutions, and implemented actions to capitalize on efficiencies," Edmund Ludwig, president and chief executive officer of Optelecom-NKF, said in a statement. "The acquisition of NKF has clearly strengthened our hand."
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