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COPYRIGHT 2002 PR Newswire Association LLC
Laser Technology, Inc. , a leading designer, manufacturer and marketer of pulse laser measuring systems for a variety of commercial and consumer applications, recently reported its financial results for the quarter and fiscal year ended September 30, 2002.
Net sales for the fiscal year ended September 30, 2002 were $10,577,217 compared to $11,472,459 realized during the fiscal year ended September 30, 2001, representing an 8% decrease. In 2002, significant decreases in our Professional Measurement sales had the greatest impact on total revenues. These decreases offset increases in Traffic Safety sales and Consumer product sales.
For the three months ended September 30, 2002 net sales totaled $3,161,923, versus net sales of $2,690,096 in the fourth quarter of the previous fiscal year. The Company reported net income of $242,699 or $0.04 per basic share, in the fourth quarter of FY2001, compared with net income of $211,675 or $0.04 per basic share, in the corresponding period of the prior year.
Sales of our Traffic Safety products increased 3% to $7,147,874 in 2002 from $6,957,280 in 2001. North American Traffic Safety product sales increased 8% to $4,512,664 in 2002 from $4,162,020 in 2001. Improvements reflected increased production by our new salespeople in two regions that were previously underdeveloped. International Traffic Safety product sales decreased 6% to $2,635,210 in 2002 from $2,795,259 in 2001. Sales were negatively impacted by fluctuations in government spending and delays due to the...
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