CHARLOTTE, N.C.-Glenayre Technologies Inc. faired relatively well last year, reporting $14.1 million in net income, or 21 cents per share, with a 45-percent sales increase in the company’s enhanced service platform/unified messaging offerings, which include its popular @ctiveLink for the Handspring Visor. The company’s total revenue for last year was $251.6 million.
For the fourth quarter, ended Dec. 31, the company reported a loss of 3 cents per share, which was in line with the company’s expectations. The loss was due to investments in research and development and marketing programs, Glenayre said. Revenue for the fourth quarter was up 9 percent from 1999 to $67.6 million.
The company’s stock was down 3 percent in midafternoon trading Feb. 7, at $4.75 per share.
“The year 2000 was key for Glenayre as we completed our financial turnaround, refined the company’s strategic path and invested in areas that we believe will fuel the long-term growth of the company,” said Eric Doggett, the company’s president and chief executive officer.
Doggett said the company’s view for this year would be 20-percent revenue growth, with a target of $300 million, and a net loss of 3 cents per share. The loss reflects the risk factors associated with new product introductions in the second half of the year.
