QMRK 1.50...have been on this one a long time...earnings today continue the strong forward progress of QMRK...this is becoming a compelling situation, esp when you read the narrative and see that ordes are coming from the 3rd largest PC manuf, multiple orders from thew world's largest avionics manuf, the largest HALT system ever to the world's largest electronics manuf.....and to top it off these results came in thier historcally weakest qtr. This has become a must own stock for a long term hold for maximum capital gains....we will see prices of 3.00-4.00 for the patient..or more. 3.6m outstanding.
QualMark Corporation Reports Third Quarter Financial Results
Wednesday October 20, 6:00 am ET
"...Profitability continued to flourish, increasing over 100% as compared to the same quarter of last year..."
DENVER--(BUSINESS WIRE)--Oct. 20, 2004-- QualMark Corporation (OTCBB: QMRK - News), a world leader in designing, manufacturing and marketing HALT (Highly Accelerated Life Testing) and HASS (Highly Accelerated Stress Screening) systems, today announced results for the third quarter ended September 30, 2004.
The Company reported net income of $212,000 and $808,000 on revenue of $2,717,000 and $8,777,000 for the third quarter and year-to-date 2004, respectively, versus net income of $21,000 on revenue of $2,044,000 and a net loss of ($809,000) on revenue of $5,354,000 for the third quarter and year-to-date 2003, respectively. Diluted income per share was $0.02 and $0.09 for the third quarter and year to date for 2004, respectively, versus a basic and diluted loss per share of ($0.02) and ($0.31) for the third quarter and year to date for 2003, respectively.
"We are very encouraged by the increased demand in all aspects of our business. Historically, the third quarter is the slowest and worst performing quarter for this industry. Profitability continued to flourish, increasing over 100% as compared to the same quarter of last year. Sales remained strong throughout all product lines, and all geographic sectors. New business represented approximately 30% of our chamber customers, which is a positive indicator of successful market penetration. The North American market thrived, as we received a multiple unit order from the largest manufacturer of avionics equipment, and a single unit order from the third major PC manufacturer this quarter. Asia Pacific represented approximately 60% of our chamber business, solidifying the continued market implementation of HALT and HASS technology in the consumer electronics realm," said Charles D. Johnston, President and CEO of QualMark.
"QualMark is also pleased to announce the delivery this quarter of the largest special purpose chamber ever produced to the leading manufacturer of consumer electronics. The chamber will be utilized to perform HASS on LCD panels, which represents one of the fastest-growing and most dynamic industries," concluded Charles D. Johnston, President and CEO of QualMark.
A quarterly conference call to discuss third-quarter results will also be held today, October 20, 2004, at 11:00 a.m. Eastern Time.
To participate via conference call dial 888-318-6430 (if calling from within the U.S.) no later than 10:50 a.m. EST on October 20. The leader name is Charles Johnston. The QualMark security code to access this earnings call is QUALMARK.