LINCOLN, Neb.-Transcrypt International Inc. ended the year with revenues totaling $42.2 million compared with annual revenues of $53.5 million for 1999 and is evaluating a sale of part or all of the company.
The losses are due to a weaker fourth quarter, reflecting lower than anticipated sales. Fourth-quarter 2000 revenues were $7.3 million, compared with $15.8 million for 1999. “We ended a difficult year with a disappointing quarter,” said Transcrypt Chief Executive Officer Michael Jalbert. “Delays in the federal budget process adversely affected fourth-quarter sales, but more importantly, and like much of the rest of our industry, the company continues to face increasing pressures on the revenues and margins of its legacy products.”
The company will lay off 24 employees, which is 13 percent of its EFJohnson workforce, and has hired ING Barings to evaluate cash infusion or sell-off opportunities.
