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SteelCloud Announces Q1 Results; Profits Increase 354% on Revenue Growth of 35%.

Publication: PR Newswire
Publication Date: 07-MAR-02 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
DULLES, Va. -- SteelCloud Inc. , a leader in the development of turnkey network appliance solutions, today reported its results for the first quarter ended January 31, 2002. Quarterly revenues increased 35% to $9,686,225 from $7,188,889 in the same period of FY2001. Quarterly net income before preferred stock items increased 354% to $486,506 from $107,223 in FY2001. Earnings per share increased to $0.05.

"Our focus on the appliance server market allowed us to reach record levels of quarterly operating profit and positive cash flow," explained Thomas P. Dunne, Chairman and Chief Executive Officer. "The company is excited to post such strong results as we begin our new fiscal year. I can say with conviction, that SteelCloud's financials grow stronger with each passing quarter."

First Quarter Highlights: * Total gross margin for the quarter increased 44%, to...

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