Microtec earnings, revenues decline
SAINT-AUGUSTIN, Quebec - Microtec Enterprises Inc. reported lower revenues from monitoring and services but also reduced expenditures, company officials announced in mid-August.
During the second quarter of 2003, revenues totaled $7,777,000, a drop of three percent when compared to the same figure aÃ‚Â yearÃ‚Â ago. Company officials said the decline is due to lower installation revenues, which were also lower, at $1,038,000 less than for the same period in 2002.
Administrative charges and monitoring and customer service expenditures declined by 3.9 percent during the period.
Raymond Gilbert, MicrotecÃ¢â‚¬â„¢s chairman and chief executive officer, said that the results for the first six months reflect the companyÃ¢â‚¬â„¢s priorities of reducing operating and recruitment costs as well as the companyÃ¢â‚¬â„¢s debt.