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Article: Telepanel Reports Results For The Third Quarter Ended October 31, 1999; Lower Operating Expenses Result in Improved Operating Loss.
- Article from:
- Business Wire
- Article date:
- December 21, 1999
CopyrightCOPYRIGHT 1999 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Business Editors
TORONTO--(BUSINESS WIRE)--Dec. 21, 1999
(TSE:TLS.) (OTC Bulletin Board:TLSXF) Telepanel Systems Inc. (TSE:TLS. and OTCBB:TLSXF) today announced its results for the third quarter ended October 31, 1999 (all results are reported in Canadian dollars).
For the nine months ended October 31, 1999, product sales were $2,204,634, compared to the same period last year of $5,494,794. The decrease in selling, general and administration expenses offset a reduction in sales contribution due to lower product revenue, resulting in a decrease in operating loss for the period to $2,995,278 from $3,158,341 last period. Selling, general and ...