Telenetics’ 4th-Quarter Is Flat, Company Says
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Telenetics Corp. said Tuesday that it expects fourth-quarter revenue to be relatively flat, but the Lake Forest designer of wireless data-communications products said sales the first three months next year should exceed $7 million.
Telenetics said in a press release that a recent contract with Motorola Inc. should boost sales. Sales in last year’s final quarter were $1.6 million.
The company’s contract with Motorola’s Multiservice Networks division, signed in November, calls on Telenetics to make, market and develop certain transmission products under license from Motorola beginning Jan. 1. Telenetics said it expects the Motorola pact to lead to a “significant” revenue increase and enable it to become profitable next year.
Telenetics has lost $7.3 million in the first nine months on sales of $6.6 million. Its stock gained 28 cents Tuesday to close at $1.41 a share.
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