Thursday, May 11, 2006
© Copyright 2014
Gwinnett Daily Post
NORCROSS - EMS Technologies turned a $200,000 first-quarter profit as its wireless communications equipment produced record revenues.
The Norcross company's 2 cents-per-share earnings improved from the first quarter of 2005, when EMS lost $300,000, or 3 cents per share.
EMS earnings from continuing operations were $2 million, or 15 cents per share. The company saw sales jump 24 percent to $74.7 million, up from $60.2 million a year ago.
Analysts expected first quarter earnings of 16 cents per share on $70.1 million in revenue.
"The combined performance of our divisions has helped EMS get a solid start to the year," CEO Alfred Hansen said. "The first quarter has historically been tough in all our markets, but with strong product offerings and solid execution, three of our four divisions set first-quarter revenue records."
EMS stock dropped 29 cents to $20.05 by the close of trading Wednesday. The company's stock has traded between $11.41 and $20.92 during the past year.
AT A GLANCE
•Who: EMS Technologies
•Headquarters: 660 Engineering Drive, Norcross
•CEO: Alfred Hansen
•Web site: ems-t.com