Subject: [NEXTEL-1] Relm quarterly revenue leaps 25 percent- Company officials cite strong sales of its rugged radios

From: [email-masked]
Date: Mon, 10 Nov 2003 23:42:03 -0500

Nov 5, 10:07 PM

Relm quarterly revenue leaps 25 percent- Company officials cite strong
sales of its rugged radios
By Brian Monroe
FLORIDA TODAY

WEST MELBOURNE -- Relm Wireless Corp.'s third quarter revenues jumped 25
percent as the company posted its second consecutive profitable quarter
on strong sales of its new portable digital radio.

The West Melbourne-based company designs and manufactures rugged radios
for the government and customers in public safety: the Forest Service,
police and firefighters. It has been around more than 55 years and
employs about 70 people.
Revenues for the three months ended Sept. 30 were $5.0 million compared
with $4.0 million for the same
period last year.

Profits for the third quarter were $291,000, or 3 cents a share,
compared with a net loss of $395,000, or 5 cents a share, for last
year's quarter.
Through the first three quarters of the year, Relm is on course to post
its first profitable year since 2001, as revenues increased to $13.8
million from $13.7 million for the same three quarters last year.

Profits for the first nine months increased to $36,000, or 0 cents a
share, from a net loss of $1.4 million, or 19 cents a share, in last
year's period.
"We are particularly encouraged by strong growth in orders and revenues
for our premier product (the digital portable handheld radio or DPH),"
Relm President and Chief Executive David Storey said.

He added that the digital radio is fully compliant with the government's
Association of Public Safety Communications Project 25.
That is an initiative to ensure various government agencies have radios
that can talk to each other -- interoperability -- during times of
crisis.
"With an unsurpassed combination of audio clarity, battery life,
durability and affordability, the DPH is rapidly gaining acceptance with
government, public safety and homeland security market segments," Storey
said.

The increases in sales of that product, combined with lower costs, are
behind the improvement in third quarter and year-to-date operating
results, he said.

Sales in the quarter were boosted by $3.5 million in orders for the
digital radio from the U.S. government and the state of California.
The orders were related to a contract Relm secured in July to supply its
radios to the U.S. Department of Interior.
"It's been a very busy day with investors calling every minute," Storey
said.

"I think it's safe to say we will be profitable for the year. The fourth
quarter is looking very positive. Our goal is about knocking off
consecutive quarters of profitability."

Storey will be in Orlando today pitching his digital radio to the law
enforcement arm of the Department of Agriculture and he is aggressively
going after "more prospects" in other parts of Florida, in the
government and possibly Iraq.
"It's tremendously exciting," Storey said.

"We have been working our tails off for the past five years and are
poised for growth and jobs. I am very bullish about the future of Relm."

Relm's stock price surged 30 cents, or 20 percent, to finish the day at
$1.79 in OTC Bulletin Board trading. Trading volume was high, at 158,220
shares compared with a daily average of 29,227 shares.
http://www.floridatoday.com/!NEWSROOM/moneystoryB1106RELM.htm

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