Aastra Posts Record Sales In The First Quarter.TORONTO--(BUSINESS WIRE)--May 27, 1998--(Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). :AAH aah interj. Used to express pleasure, satisfaction, surprise, or great joy. intr.v. aahed, aah·ing, aahs To exclaim in pleasure, satisfaction, surprise, or great joy: .) Aastra Technologies Aastra Technologies Limited (TSX: AAH) headquartered in Concord, Ontario, Canada, makes products and systems for accessing communication networks including the Internet. Limited today announced its financial results for the first quarter ended March 31, 1998. The Company is pleased to announce that sales increased for the fourth consecutive quarter. Net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight for the three months ended March 31, 1998 were $5,048,800, a 187 percent increase from sales of $1,757,200 for the same period in 1997. The net loss for the first quarter was $123,700 or $0.02 per share compared to a net loss of $365,000 or $0.05 per share for the first quarter in 1997. During the first quarter, the Company continued to experience strong sales of BELL(r) Equipment branded products. Retail sales exceeded $2.1 million despite the seasonal weakness of the first quarter. U.S. retail sales through the Company's U.S. distributor continue to exceed expectations. In addition, Telco sales grew to over $2.9 million in the first quarter from $1.5 million for the same period in 1997, an increase of 93 percent. Growth in Telco sales is being driven by Aastra's success in caller ID A telephone company service that sends the caller's telephone number between the first and second ring of the call. If the calling number is not blocked, the calling number is displayed on the handset or base station of the called party. programs in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The improvement in operating results from the previous year is a direct result of the rapid sales growth experienced offset slightly by an increased investment in research and development activities. The net loss for the first quarter was in line with management's expectations for the seasonally weak first quarter and is expected to set the foundation for a profitable 1998. Aastra Technologies Limited designs and markets telecommunications equipment. Aastra products include telephone sets, caller ID devices and custom engineered telephone sets that incorporate Telco services such as call forwarding, call waiting and caller ID. Aastra sells to all the major Telcos in Canada and to over 20 Telcos in the United States including Bell Atlantic, Bell South, Sprint, GTE GTE General Telephone & Electronics GTE Génie Thermique et Énergie (French) GTE Gas Turbine Engine GTE Global Tropospheric Experiment GTE Geothermal Energy GTE Gas Turbine Efficiency plc (Sweden & USA) and Pacific Telesis. In the retail market, Aastra has the exclusive license to use the "BELL Equipment - SONECOR" trademark for telephone sets and distributes its products to Sam's Clubs and Circuit City among other mass retailers. The Alberta Stock Exchange has neither approved nor disapproved of the information included in this press release. CONTACT: Aastra Technologies Limited Mr. Allan Brett, 416/736-7070, Ext. 360 |
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