Atlantis reports improved third quarter results -
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Published on: 11/27/2002
Last Visited: 11/27/2002
Commenting on the improved results, Atlantis Chairman Neil Raymond said, "The strategic plan for recovery outlined in our 2001 Annual Report, concentrating on the core product lines of simulation training and vessel traffic management systems, entering into teaming arrangements when they may be of benefit, and focusing our marketing efforts on leveraging existing contracts, has begun the process of returning the Company to profitability.While we are encouraged by the improved financial outlook, we will continue to focus our efforts on translating this improvement into increased shareholder value."
Atlantis' largest-ever defence contract, the $32-million project to supply F/A-18 Integrated Maintenance Training Systems to the Canadian and Australian defence forces, contributed strongly to the Company's revenue stream in the third quarter.Increased revenue also resulted from a major sale of vessel traffic management equipment by the Company's Denbridge Digital subsidiary and substantial sales of commercial aircraft mock-up trainers and flight-deck illustrations to the United States.
Highlights of the third quarter include:
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