Sirit Reports Q3 Results

Published: November 26, 2006, By pffc-online.com

PRESS RELEASE

TORONTO, OH—Sirit has reported its financial results for the third quarter ended September 30, 2006. All amounts are in Canadian dollars.

Total revenue reached $5.1 million, a 64% increase from the $3.1 million reported in the same quarter of 2005. Automatic Vehicle Identification (AVI) related products comprised 73% or $3.7 million of total revenue, an increase of 42% over the third quarter of 2005. Radio frequency solutions (RFS) related revenue represents 27% or $1.4 million of total revenue, a 180% increase over prior year reported revenue of $0.5 million. Gross margin for the third quarter of 2006 remained consistent with both the second quarter of 2006 as well as the third quarter of 2005. For more details, as well as some other highlights of the third quarter, visit sirit.com.