EDEN PRAIRIE, Minn. - (Nov. 8, 2002) - Kontron Mobile Computing, Inc. (OTC BB: KMBC), today announced financial results for third quarter 2002.
The company, a leading supplier of rugged, mobile computers for field professionals, reported an operating loss for third quarter 2002 of $356,789, compared to operating profit of $250,053 during third quarter 2001. Year-to-date operating profit was $59,921, compared to operating profit of $1,721,099 during the same period in 2001.
Net loss for third quarter 2002 was $547,448, or $0.04 per share, on revenues of $2.4 million, compared to a net loss of $304,303, or $0.02 per share, on revenues of $3.2 million for third quarter 2001. Year-to-date net loss was $584,987, or $0.04 per share, on revenues of $7.9 million, compared to net profit of $710,605 or $0.05 per share, on revenues of $13.1 million during the same period in 2001.
"Viewed in light of the company´s generally improved performance since the beginning of 2001, our third quarter results this year are below expectations," said Thomas Sparrvik, CEO. "Like many companies in our industry, we continued to weather a challenged economy and purchasing climate during the third quarter. By making significant development and marketing investments during the quarter, we believe we are well positioned as our newest product, the ReVolution, becomes fully commercialized. We believe we are on track for improvement in the fourth quarter and we aim to end the year with operating profit. As we look ahead, we retain our commitment to our long-term strategic path and believe it is the right one for success."
About Kontron Mobile Computing, Inc.
A Minnesota corporation, Kontron Mobile Computing, Inc., has designed, manufactured and marketed rugged computers for a variety of industries and applications worldwide since 1992. It also provides product customization, integration and support services. The company is headquartered in Eden Prairie, Minn., with sales, service and manufacturing locations worldwide. It is traded on the U.S. Over the Counter Bulletin Board under the ticker symbol KMBC.
Kontron Mobile Computing is the mobile computing affiliate of Kontron Embedded Computers AG, Munich, Germany. For more information, visit Kontron Mobile Computing online at , or phone the company toll-free at 1-888-343-5396.
Forward-looking statements in this news release, if any, are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Certain important factors could cause results to differ materially from those anticipated by the statements, including the impact of changing economic or business conditions, the impact of competition, the availability of financing, the success of products in the marketplace, other risk factors inherent in the computer industry and other factors discussed from time to time in reports filed by the Company with the Securities and Exchange Commission.