Comarco Posts $1.5-Million 3rd-Quarter Profit
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Comarco Inc., the Irvine provider of wireless communications products, said it earned $1.5 million, or 20 cents a share, in the third quarter ended Oct. 31. A year ago, the company lost $412,000, or 11 cents a share, including a $1.9 million loss from discontinued operations. Revenue increased 10% to a record $13.2 million.
The company, which completed a plan last week to divest its nonwireless businesses, said its continuing operations consist solely of its wireless technologies subsidiary, Comarco Wireless Technologies Inc.
Comarco said it expects fourth-quarter revenue to be up more than 26% from the $10.5 million in the previous fourth quarter, as demand remains strong for test and measurement equipment, engineering services and related software. The company said it plans to introduce new products to capitalize on these demands.
The company said it received about $9 million in proceeds from the sale of its nonwireless businesses and plans to use the funds to develop its wireless technology business.
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