For the first time since the fourth quarter of 2004, Sentry, a manufacturer of CCTV systems and RFID solutions, has turned a profit.
According to an earnings statement published this week by Sentry, the company earned a net profit of $8,000 in the second quarter of 2008. During the same quarter in 2007, the company had reported a net loss of $879,000.
Sentry has also seen a downturn in its net losses, down by about 54 percent to $879,000 in the first half of 2008, compared to $1.62 million during the same time period in 2007.
In a prepared statement, Sentry President and CEO Peter L. Murdoch said that the company's employees have "battled" to return it to profitability after it lost a major customer in 2005, which accounted for 30 percent of its revenue. He added that the company is also benefitting from sales of its SmartTrack solution, a CCTV system that travels along a wall or ceiling mounted aluminum rail, as well as from "cost reduction measures."