Panja Sales Climb 24% In Fiscal Q3

Staff On Feb 12 2001 - 8:00am

RICHARDSON, TEXAS -Device networking and broadband communications company Panja said net sales for the fiscal third quarter ended Dec. 31 climbed 24 percent to $24.2 million, compared with $19.5 million in the same quarter last year.

Residential revenue-which includes the Broadband Consumer Products Group that manufactures and markets systems for streaming audio and video Internet content directly to home entertainment components-grew 19 percent over the year-ago period.

Panja reduced its net loss for the quarter to $385,000, compared with a net loss of $4.1 million in the same three months in 1999, which included $3.4 million in restructuring charges.

For the nine months, net sales increased 21 percent to $71.3 million, compared with $58.7 million in the year-ago nine months.

Residential revenue was $16.5 million, a 17 percent increase from the $14.1 million recorded in the year-ago period. The company reduced its net loss to $851,000 for the nine months, compared with $3.4 million in the same period in 1999.