Home | Business News | Browse by Publication | P | PR Newswire

EFJ, Inc. Reports a 99% Increase in 2nd Quarter Revenue.

Article Excerpt
- Record 2nd Quarter Revenue of $57.3 Million

- Diluted EPS of $0.15 in the Quarter

- Year-to-Date Revenue at $96.2 Million

IRVING, Texas, Aug. 1 /PRNewswire-FirstCall/ -- EFJ, Inc. today announced its results for the second quarter of 2007. Revenue was $57.3 million for the second quarter of 2007, an increase of $28.5 million as compared to revenue of $28.8 million recorded in the second quarter of 2006. The significant increase in revenue was driven by a dramatic increase in radio product shipments at the Company's private wireless communications business segment where revenue totaled $51.5 million in the second quarter of 2007.

The net income for the second quarter of 2007 was $3.9 million as compared to net income of $3.9 million for the same period of 2006. The diluted earnings per share was $0.15 for the second quarter of 2007 as compared to diluted earnings per share of $0.15 for the second quarter of 2006. The Company recorded non-cash expenses of $1.9 million, including $0.6 million related to stock based compensation under SFAS 123R, $1.1 million related to depreciation and amortization; and $0.2 million of tax expense for the second quarter of 2007.

"Earnings were flat this quarter due to the decreased contribution from our traditionally high margin voice encryption business which as anticipated continues to experience...

View this article FREE - Now for a Limited Time, try Goliath Business News
Free for 3 Days!