IRVING, Texas , April 30 /PRNewswire-FirstCall/ -- EFJ, Inc. (Nasdaq: EFJI)
today announced its results for the quarter ended March 31, 2008 . Revenues
"This quarter's performance is on track with our plan to bring this company back to profitability in 2008," said Michael E. Jalbert , chairman and chief executive officer. "I believe that the steps we have taken over the last months have put us squarely on the path for meeting that goal. These include streamlining the organization by combining the three businesses into one; developing new products; seeking new partnerships; strengthening our marketing efforts to new federal, state and local government customers; and adding other customers seeking to use wireless solutions for monitoring and control."
Revenues were down as compared to last year's first quarter of
Gross profit decreased
The net loss was
Jalbert noted that the Company has launched two new major products since the beginning of the year, including the Rapid Response Video-to-Vehicle (R2V2) Starter Kit and the final bands of the ES portable platform product. He noted, "We're especially pleased with early customer response to R2V2, which enables first responders to set up real-time video surveillance and send live footage of the scene to a command and control vehicle.
"We booked a new
The Company's management plans to discuss the financial results and provide an operational progress report on its investor call today at 9:00 a.m. (EDT) . The investor conference call will be available via live webcast on the EFJ, Inc. website at www.efji.com under the tab "Investor Relations." Investors are advised to go to the website at least 15 minutes prior to the call to register, download and install any necessary audio software. The webcast will be archived for 90 days.
To participate by telephone, the domestic dial-in number is 877-407-8031 and the international dial-in number is 201-689-8031. Participants are urged to call in to the conference call at least 10 minutes prior to the start time.
About EFJ, Inc.
Headquartered in Irving, Texas , EFJ, Inc. focuses on innovating, developing and marketing the highest quality secure communications solutions to organizations whose mission is to protect and save lives. The Company's customers include first responders in public safety and public service, the federal government, and industrial organizations. The Company's products are marketed under the EFJohnson, 3e Technologies International, and Transcrypt International trade names. For more information, visit http://www.efji.com.
Certain matters discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain risks and uncertainties that could cause the actual results, performance or achievements to differ materially from those expressed, suggested or implied by the forward- looking statements due to a number of risk factors including, but not limited to, the level of demand for EFJ's products and services, reliance on contract manufacturers, the timely procurement of necessary manufacturing components, implementation of application software, successful integration of the system components, dependence on continued funding of governmental agency programs, general economic and business conditions, and other risks detailed in EFJ's reports filed with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the period ended December 31, 2007 and in the company's subsequent filings with the SEC. These forward-looking statements are made as of the date of this press release and EFJ undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Readers are cautioned not to place undue reliance on these forward-looking statements.
SOURCE EFJ, Inc.