
Icron Reports Preliminary First-Quarter
Results:
REVENUES INCREASE 32%
Vancouver, British Columbia, April 5, 2004 –
Icron Technologies Corporation (TSX.V:IT) today announced
results for the first quarter of 2004. All figures are in
Canadian dollars.
First Quarter Results:
(for the three months ended March 31, 2004 compared with three
months ended March 31, 2003)
- Total revenue was approximately $660,000 compared with
$501,153
- Net loss is anticipated to be $40,000 compared with a
loss of $121,165
- Net loss per share is estimated to be $0.00 compared with
a loss of $0.01
Suresh Singh, President and CEO, said the first quarter saw
Icron move ahead strongly as the Company exceeded its planned
revenue target. He noted that the Company’s business
increased approximately 32% over the corresponding quarter
of 2003. Revenue increases were recorded in both Icron’s
branded and private-labeled product lines. He also noted that
gross margin as a percentage of revenue continued to stay
strong as the Company will post margins of approximately 42%
compared to the 42.3% reported for the quarter ended March
31, 2003.
During the quarter, Icron announced its planned entry into
the Digital Visual Interface (DVI) market. In the second quarter,
the company will launch a dynamic product line that emerges
from partnerships with several leading DVI product developers.
In the next several years, DVI connections will be used in
PCs, set top boxes, plasma TVs, DVD players, and projectors.
This market is forecast to grow 100% annually for the next
several years, according to InStat/MDR, a noted research firm.
The DVI connectivity market shares many of the same customers,
competitors, cost structures and channels of distribution
that are already present in Icron’s business. This will
allow Icron to leverage its brand equity, infrastructure and
technical resources. Icron’s expertise in extended range
digital connectivity technologies drives the company’s
product launch and will enhance its future product releases
in the DVI market.
About Icron
Icron Technologies Corporation creates
and markets high-performance digital connectivity technologies
and products for the computing and visual display markets.
The company provides branded and private-label packaged products,
Original Equipment Manufacturer (OEM) modules, developer kits,
and engineering and development services.
Icron's technological innovations include its patented ExtremeUSB®
technology which touches several large worldwide markets from
industrial automation to medical devices, aerospace, computer
networking and audio/video.
Icron is a publicly traded Canadian corporation and trades
under the symbol "IT" on the TSX Venture Exchange.
Contacts
For further information, please contact the following:
Icron Technologies Corporation |
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Suresh Singh, President & CEO
suresh.singh@icron.com
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Phone: 604-638-3929
Fax: 604-638-3930 |
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Kevin Lee, Vice President, Sales &
Marketing
kevin.lee@icron.com
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Phone: 604-638-3924
Fax: 604-638-3930 |
|
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Icron Investor Relations |
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Cathy Hume, CEO
Cavalcanti Hume Funfer Inc.
cathy@chfir.com |
Phone: (403) 541-1225
Fax: (403) 410-7217 |
|
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Linda Armstrong
Cavalcanti Hume Funfer Inc.
linda@chfir.com |
Phone: (416) 868-1079
Fax: (416) 868-6198 |
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