Integral Posts Revenue, Profit Gains In 2008 First Quarter
[Satellite Today – 2-4-08] Integral Systems Inc. posted a 36 percent increase in revenue for the first quarter of 2008 to $37.3 million, the company announced Feb. 4. Net income was $7 million, up from $2.1 million in the same period in 2007.
Integral credited the gains to a pair of large non-routine transactions, including the GPS Next Generation Control Segment contract award and a tax credit for tax-deductible research and development expenditures that were incurred in previous years.
All of Integral’s operating segments contributed to the gains in revenue and net income. Revenue in the Government Ground Systems segment improved 27 percent, which included the GPS contract as well as revenue from other national and civilian programs. Commercial Ground Systems segment revenue grew 27 percent, primarily attributed to increased shipments from the SAT subsidiary. Space Communication Systems segment revenue grew 35 percent due to new RT Logic contracts and higher product shipments from the Lumistar subsidiary.
“We are very pleased with our strong start for fiscal 2008,” Integral CEO Alan Baldwin said in a statement. “We had some very positive non-recurring financial events in the first quarter, and all three of our operating groups started out of the gate better than expected. We are executing on our growth strategy and are experiencing positive increases in backlog and higher product demand for our subsidiaries.”