COCKEYSVILLE, Md., May 4 /PRNewswire/ -- Acrodyne Communications, Inc. , a manufacturer of radio frequency equipment, including high power television broadcast transmitters, reported a substantial turnaround in net earnings for the year ended December 31, 2005. The company reported net earnings in 2005 of $122,202, which represented over a $2 million improvement over 2004 results. Per share earnings for the year ended December 31, 2005 were approximately $.005 compared to $(.07) per share loss for the same period in 2004.
Sales for the year ended December 31, 2005 were $14,282,500, a 42% increase over annual sales in 2004 of $10,068,000. The first half of 2005 was strong as was the fourth quarter. Order activity increased in the fourth quarter generating a sizable order backlog at the end of 2005. A backlog of this size assures continued momentum through the first half of 2006. Market forces continue to keep pressure on commercial transmitter gross margins; however, our intense cost and expense controls facilitated the profitable results for 2005.
Acrodyne, as a qualified defense contractor, successfully supplied non- broadcast equipment to several government agencies. Nat Ostroff, President and CEO of Acrodyne stated, "Our Company is maximizing our position as the leading supplier of television transmitters in the domestic commercial IOT TV transmitter market. Acrodyne technology is also applicable in areas of high energy scientific research and is currently under contract from a leading research laboratory to supply a super power radio frequency source." Mr. Ostroff also indicated that Ai has been successful in high power transmitter sales outside the USA.
Acrodyne Communications, Inc., a Delaware corporation, is an unregistered publicly held company whose stock is traded over the counter under the symbol ACRO.PK.
The company's operating subsidiary is Acrodyne Industries, Inc., an established manufacturer of television broadcast equipment. The corporate headquarters is located in Cockeysville, Maryland (a suburb of Baltimore), and the manufacturing facility is in Oaks/Phoenixville, Pennsylvania (a suburb of Philadelphia). In business for more than 35 years, the company has attained a leading position as a technologically advanced high-quality producer of transmitters used by television stations to broadcast and retransmit their signals.
This press release may contain "forward-looking statements" concerning future expectations, plans, or strategies that involve a number of risks and uncertainties. Readers are also directed to consider other risks and uncertainties discussed in documents previously filed with the SEC.
