Radiant Systems (Nasdaq: RADS), a provider of systems for managing and supporting site operations of retail and hospitality businesses, reported positive net income in and through the third quarter of 2002.
The company had a net income of $1.6 million on $26.9 million in sales, compared with a net loss of $2.3 million on $29.1 million in revenue for the third quarter last year. Earnings went up to 6 cents a share, compared with a loss per share of 8 cents in the third quarter last year.
Through nine months, the company had net income of $4.6 million on $104.9 million in revenue, compared with a net loss of $908,000 on $99.6 million in revenue for the same period of 2001. Earnings grew to 17 cents a share, up from a loss per share of 3 cents in the first three quarters of 2001.
“We continue to be pleased with our performance in this economic environment, and we continue to see growth opportunities across our markets,” John Heyman, Radiant’s co-chief executive officer and chief financial officer. “While 2001 results were adversely affected by the economic downturn, during 2002 we have driven positive results from a disciplined approach to managing our business.”
Radiant says its sales pipeline grew during the quarter as it closed significant contracts with companies such as TotalFinaElf, AFC Enterprises and Hooters of America.
Radiant Systems: www.radiantsystems.com