Teltronics Inc., a leading provider of innovative communications solutions, today posted its financial results for the year ended December 31, 2009, attributing the solid results to quality customer service and strategic budgeting.
“The Company is pleased with our year-end results,” Ewen Cameron, Teltronics’ president and CEO stated in the press release. “In 2009, we increased our operating profit by 109% to $6.9 million from a loss of $3.3 million in 2008. We attribute our 2009 accomplishments to our strong relationships with our current customers, combined with the budget cut initiative we implemented in 2008 and our strong team of employees.”
The company posted revenues for 2009 at $43.1 million compared to $34.6 million reported for full-year 2008. Net income was $5.4 million in 2009 compared to a net loss of $3.3 million in 2008.
Net income available to common shareholders for 2009 increased by 200 percent to $4.4 million, up from a $4.4 loss in 2008; diluted net income per share for 2009 was $0.48 as compared to a diluted net loss per share of $0.51 for 2008.
Teltronics’ gross profit margin increased to 41 percent for 2009, compared to 33 percent for 2008; operating expenses for 2009 decreased $3.8 million from 2008.
Cameron noted the Teltronics’ newly secured education partnerships, as well as the company’s goals for 2010.
“In 2009, we developed new relationships with approximately 50 U.S. strategic partners who have knowledge in the education market. In 2010, we anticipate these partners will promote our bundled communication solution, ‘Cerato for Schools.’ With the stimulus & E-rate funding now available for technology in the education sector, we believe that we should see some success with this application through these partners,” Cameron stated. “We should continue to see sales from our current U.S. customers and our international installed base. Our goals for 2010 include building upon our current international distribution channel, expanding our U.S. strategic partner relationships, and growing our current product offerings to reach new vertical industries.”