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Icron Reports 2011 Second Quarter Results
Tuesday, August 30, 2011Company Profile | Follow Company
Vancouver, BC, August 30, 2011--(T-Net)--Icron Technologies Corporation (TSX Venture: IT), a global leader in the design and manufacturing of high-performance USB and video extension solutions today announced the financial results for the second quarter ending June 30, 2011. Although Icron is now a private company, it is required to disclose the second quarter results under applicable Canadian Securities legislation.
Financials:
Revenue for the three months ended June 30, 2011 was $3.998 million, compared to $2.073 million in the same period of prior year and $3.401 million in first quarter of 2011.
As a result of the discontinuation of some components by our vendors the Company was required to end-of-life (EOL) our legacy USB Ranger 1.1 product family. Consequently several last time buy orders were received in the fourth quarter of 2010 and into the first quarter of 2011. A total of $222 thousand was shipped in the second quarter compared to the $553 thousand which was shipped during the first quarter of 2011. The Company anticipates completing only a few smaller final shipments of the EOL'd product in the in the third quarter at which point these revenues will cease. Sales of the USB 1.1 Rover product line increased to $598 thousand compared to $359 thousand in the second quarter of 2010 and $326 thousand in the first quarter of 2011. The next generation 2.0 products generated combined sales of $1.805 million during the second quarter compared to $1.250 million recorded in the second quarter of 2010 and $1.949 million for the first quarter of 2011. Next generation 2.0 revenues accounted for 45.2% of all revenue during the second quarter. During the quarter, Icron completed the shipment of $504 thousand of product through a co-development product arrangement with one of our channel partners. Icron does not expect any additional revenue for this product during the calendar year.
Our net income for the second quarter amounted to $1.019 million, or $0.05 per share, in the three months ended June 30, 2011, compared to a net loss of $218 thousand, or $(0.01) per share, in the same period of 2010 and net income of $469 thousand, or $0.02 per share, in the first quarter of 2011.
For complete financials please visit www.sedar.com or www.icron.com.
For further information, please contact:
Todd Hamel
Icron CFO
604-638-3924
todd.hamel@icron.com
About Icron Technologies Corporation
Icron Technologies (TSX-V:IT) is an innovative leader in the development and manufacturing of high-performance video and USB extension solutions for commercial and industrial markets worldwide. Icron's patented extension technology extends PC Video and USB devices over many media types including Cat 5, Fiber, Wireless, DisplayPort, Coax, Powerline, and over a corporate LAN. Icron's extension products are deployed in a wide range of applications such as digital home connectivity, industrial automation, medical imaging, aerospace, interactive digital signage, remote desktop extension, security and surveillance, enterprise computing, isolated USB, and point-of-sale markets, or anywhere where a PC needs to be remotely located from a display or peripheral device.
Icron is a private corporation. For more information on the company and its products, please visit http://www.icron.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING STATEMENTS: Except for statements of historical fact, all statements in this news release?including, without limitation, statements regarding financial estimates and future plans and objectives of Icron?are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.
Company Snapshot |
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Icron Technologies, Subsidiary of Maxim Integrated
Burnaby, BC (InfoTech)
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