GERMANTOWN, Md. , Aug. 6 /PRNewswire-FirstCall/ -- Optelecom-NKF, Inc. (Nasdaq: OPTC), a leading global provider of advanced IP-video network solutions, today announced second quarter 2008 results. Expanded international shipments and strong new IP product sales pushed company revenue to record levels for any second quarter.
The Company reported net income of
Edmund Ludwig , President and CEO of Optelecom-NKF, said, "We enjoyed double-digit revenue growth for the fourth consecutive quarter. Our IP product sales increased significantly as we saw strong demand for our Siqura(R) product suite. International sales grew as we benefited from increased demand as illustrated by our previously announced contract with Electricite de France , a Global Fortune 100 firm."
"We made progress across several fronts during the quarter," added Steve Tamburo , Optelecom-NKF's CFO. "Sales of our expanding Siqura IP product line grew and now represent more than a third of our total revenue.
"In the closing days of the quarter we finalized the reorganization of our
international legal structure, enabling us to fully pay down our outstanding
line of credit on July 1 and extend the term of our bank loan. This new
flexible corporate structure will help streamline future growth. While we
recognized a nonrecurring tax gain in the amount of
Second Quarter Conference Call
Optelecom-NKF President and CEO Edmund Ludwig will lead a conference call to discuss second quarter results at 10:00 a.m. Eastern Time , Thursday, August 7, 2008 .
Interested parties are welcome to call 888-873-4896 (International Dial In: 617-213-8850) and request the "Optelecom-NKF conference call" shortly before the designated start time or provide the participant passcode 20629994. The telephone conference call will feature a question and answer segment with management. For those parties unable to participate in the live conference call, a replay will be available from noon following the teleconference until August 14, 2008 . Those wishing to listen to the replay should call 888-286-8010. (International Dial In: 617-801-6888) and enter passcode number 86427622 when prompted.
Optelecom-NKF, Inc. (Nasdaq: OPTC), is a global supplier of advanced video surveillance solutions, including IP cameras, video servers/codecs, network video recorders, fiber transmission equipment, video management and video analytics software. We deliver complete solutions for traffic monitoring and security of airports, seaports, casinos, prisons, utilities, public transit, city centers, hospitals, and corporate campuses.
Founded in 1972, Optelecom-NKF is committed to providing its customers with expert technical advice and support in addition to products that are developed and tested for professional and mission critical applications. All Optelecom-NKF IP surveillance solutions are marketed under the Siqura(R) name.