Conolog Corporation (NASDAQ: CNLGD) announced the results for the three months ended October 31, 2009.
Product revenues for the three months ended October 31, 2009 totaled $468,096 representing an increase of 3% compared to the $456,681 reported for the same period last year. The Company attributes this to increased order releases.
Product Cost for the three months ended October 31, 2009 and 2008 totaled $196,883 and $104,305 respectively. The overall Product Cost continues to be contained by the standardizing of costs to build our new PDR-2000 systems and the continued outsourcing of assemblies.
Gross Profit for the three months ended October 31, 2009 and 2008 amounted to $271,213 and 352,376 respectively.
Selling, general and administrative expenses for the three months ended October 31, 2009 amounted to $953,290, an increase of $434,146 from the same period last year. The Company attributes this primarily to an increase of $62,334 for professional fees and services and the amortization (non cash expense) of $336,366 for the annual stock grant program.
Non-cash non-operating expenses for the three-month period totaled $72,192 and consisted primarily of expenses related to the induced conversion cost of $31,208; and $35,411 for amortization of deferred debenture costs.
As a result of the foregoing, the Company reported a net loss from operations of ($754,269) or ($.35) per share compared to a loss of ($559,852) or ($.18) per share for the three months ended October 31, 2009 and 2008, respectively.
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