WHEAT RIDGE, Colo.-ARC Wireless Solutions Inc., which develops antennas used on wireless communication towers, reported improved financial results for the fiscal year ended Dec. 31, 2002.
The company said its net income was $307,000 compared with a loss of $2.8 million for the previous year. ARC attributed the 87-percent increase in revenue to its wireless communications products division, which acquired a base station antenna product line in August of 2001 and experienced increased sales of its panel antennas. Net sales for the company slightly increased to $32.6 million, from $30.9 million for 2001.
Randall Marx, chief executive officer commented that despite continued challenges in the economy and geopolitical environment, ARC’s plans to roll out new products, including the new Freedom Antenna line introduced last year, and its plans to lease a larger facility in Denver are intact. “We believe that our diversification will continue to position ARC Wireless as a dependable supplier of wireless infrastructure components,” said Marx.
