ETC sales decline significantly in 3Q

Freeman Staff

Dec. 5, 2017

WAUKESHA —Electronic Tele-Communications, Inc. on Monday reported its third quarter results declined substantially when compared to the third quarter of 2016, but ETC’s CEO said the company remains slightly profitable.

According to the report, sales were $131,079 for the third quarter, compared to $225,388 for the third quarter of 2016. The net loss for the quarter was $2,089 or $0.00 per Class A common share, compared to net earnings of $34,733 or $0.01 per Class A common share for the third quarter of 2016.

Sales for the first nine months of 2017 were $458,092, compared to $745,374 for the first nine months of 2016. The net earnings for the first nine months of 2017 were $21,540 or $0.01 per Class A common share, compared to net earnings of $119,371 or $0.05 per Class A common share for the first nine months of 2016.

“Sales continue to lag projections for the year which led to a slight loss in the third quarter, but we remained slightly profitable for the first nine months of the year,” said ETC President Elizabeth Danner in a statement.

Electronic Tele-Communications supplies voice announcers and voice application platforms to domestic and foreign telephone utilities under the Audichron and Digicept brand names.