Gentner Releases Fiscal Results

Gentner Releases Fiscal Results
Publish date:

Gentner Communications Corporation released financial results for the fourth quarter of the fiscal year that ended June 30, 2001. Gentner sold off a product line during the quarter, so funds from discontinued operations are not included in the standard fiscal results.
Gentner sold its remote control product lines in April, bringing in a one-time gain of $1.2 million for the discontinued operation. Due to accounting rules, the company issued separate results for net gains from its continuing and discontinued operations. Gentner’s continuing operations netted $1.6 million in income from $10.7 million in sales. The profits were a large improvement over the same quarter of the previous year, which saw $1.3 million in income from $8 million in sales.
For the fiscal year ending with that quarter, Gentner reported $5.5 million in profit from $39.9 million in sales. The results are in increase of 28 percent and 42 percent over fiscal year 2000 respectively.