Telrad Networks Posts $10.2 Mln Q3 Profit

General manager Reuven Avi-Tal said Telrad Networks` fiscal results will enable the company to invest in startup companies developing technologies and products that create a synergy with Telrad Networks` products and markets.

Telrad Networks third quarter net profit totaled 10.2 million dollars compared to a loss of 12.2 million dollars during the corresponding period last year. Net profits included a one-time allocation of $11 million.

Sales during the third quarter of 1999 totaled $123 million, compared to $60 million during the corresponding period last year, an increase of 105%. The operating profit of Telrad Networks for the third quarter totaled $30.4 million, compared to a loss of $14.6 million during the corresponding period last year.

Telrad Networks net profit for the first 9 months of 1999 totaled $12.4 million, compared to a loss of $11.4 million during the corresponding period last year. The sales volume for this period totaled 319 million dollars, compared to $253 million during the corresponding period last year - an increase of 26%. Telrad Networks operating profit for this period totaled $37 million, compared to a loss of $15 million during the corresponding period last year.

General manager Reuven Avi-Tal stated that these results are due to the company`s new business strategy that focuses on development, integration and marketing of advanced communications products. During the past two months, Telrad Networks has launched several new products developed by the company. Avi-Tal noted that Telrad Networks` fiscal results will enable the company to invest in startup companies developing technologies and products that create a synergy with Telrad Networks` products and markets.

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