KTEL - K-tel International, Inc. (KTEL)

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$KTEL Third Quarter Financial Summary and Recent Business Highlights

Revenues of $3.6 million, up 43% compared to the third quarter last year.

Gross profit of $1.6 million, up 80% compared to the third quarter last year.

Operating income of $372,000 compared to an operating loss of $(56,000) in the third quarter last year.

Net income of $320,000 or $0.01 per share, compared to $20,000, or $0.00 per share, in the third quarter last year.

H.R. 3684 – Infrastructure Investment and Jobs Act ("Infrastructure Bill"), which includes additional provisions for a new government funded broadband program, was passed by the U.S. House of Representatives.