Microtec earnings, revenues decline

SSN Staff  - 
Monday, September 1, 2003

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 a year 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, Microtec’s chairman and chief executive officer, said that the results for the first six months reflect the company’s priorities of reducing operating and recruitment costs as well as the company’s debt.