CHARLOTTE, N.C.-Glenayre Technologies Inc. reported significant increases in net income and net sales for the third quarter ended Sept. 30.
The company’s net income rose 151 percent for the third quarter to $21.1 million, compared with $8.4 million for the same period in 1994. Earnings per share Sept. 30 increased 138 percent to 50 cents per share on a fully diluted basis, compared with 21 percent per share Sept. 30, 1994.
Glenayre produced $88.4 million in net sales for the third quarter-a 101 percent increase from $43.9 million for the third quarter 1994.
Ray Aridzzone, Glenayre president and chief executive officer, noted, “We have experienced continued strong growth in the paging and messaging markets worldwide, and, combined with the increased acceptance of Glenayre’s products and services, provided the results to date.” Growth in the paging service provider industry correlates to Glenayre’s infrastructure expansion, Ardizzone said.
