http://biz.yahoo.com/e/041115/frlk.ob10qsb.html
Net Sales
Our net sales in the third quarter increased 16% to $1,387,110 from $1,199,507 in the third quarter of 2003. The increase is mainly attributable to our increased software sales. In the nine-month period ended September 30, 2004, our net sale was $7,501,297, a 3% decrease as compared to the comparable period of 2003. The decrease is mainly due to decreased hardware passthrough, which is consistent with our strategy of reducing low profit margin hardware projects.
GROSS PROFIT.
Our gross profits were $945,968 and $2,634,940, respectively, in the three-and nine-month periods ended September 30, 2004, representing a decrease of 18% and an increase of 7% against the comparable periods in 2003. Gross profit margins were 68% and 35%, respectively, in the three- and nine-month periods ended September 30, 2004, as compared to 96% and 32% in the comparable periods in 2003 and 39% in the second quarter of 2004. The sequential increase of our gross margin is mainly attributable to increased software sales, which carry a higher profit margin.
OPERATING PROFIT (LOSS).
Our operating profits were $242,464 and $153,889, respectively, in the three- and nine-month periods ended September 30, 2004, representing decreases of 57% and 81% against the comparable periods in 2003. The decreases were largely resulted from increased operating expenses, as discussed above.
NET INCOME (LOSS).
We recorded a net income of $328,237, or basic and diluted earnings of $0.004 per share, for the quarter ended September 30, 2004.
We ended this quarter with a cash position of $1,962,141.
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