PDSi Reports Record Sales and Improved Earnings for 2005 Fourth Quarter and Year; Quarterly Sales Double, Third Consecutive Year of 30% or More Sales Growth.
Business Wire (February 23, 2006)
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PDSi Reports Record Sales and Improved Earnings for 2005 Fourth Quarter and Year; Quarterly Sales Double, Third Consecutive Year of 30% or More Sales Growth.
COLUMBUS, Ohio -- Pinnacle Data Systems, Inc. (PDSi) (AMEX:PNS) today announced results for the fourth quarter and year ended December 31, 2005.
The Company posted record sales of $15.9 million for the fourth quarter, a 118% increase from $7.3 million for the fourth quarter of 2004. Sales for the 2005 year were a record $44.6 million, a 30% increase from $34.4 million for 2004. Both the fourth quarter and 2005 year sales increases were attributable to the acquisition of GNP Computers, Inc. in August 2005 and organic growth in the second half of the year. Gross profit for the fourth quarter of 2005 was $3.8 million, or 24% of sales, compared to $1.5 million, or 21% of sales, for the same period of 2004. Gross profit for the 2005 year was $10.5 million, or 24% of sales, compared to $8.0 million, or 23% of sales, for the 2004 year. Both the fourth quarter and 2005 year gross profi...Try vLex for FREE for 3 days
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