Delta Systems Inc. Posts Annual Figures
by April 16, 2001 12:00 am 118 views
Investing in a number of new initiatives dropped the 2000 earnings for Delta Systems Inc. of Bentonville, according to the firm’s annual report released April 3.
Traded publicly as “DLT.S” on the Canadian Venture Exchange, Delta develops, markets and supports software for automation control systems used in manufacturing and distribution applications. It invested significantly in research and development for a system to automate a single item order processed for the fulfillment industry.
That emphasis also affected its net sales, which fell 7 percent from $7.3 million in 1999 to $6.8 million in 2000. All figures are converted to U.S. dollars.
The company’s net loss for 2000 was $4.6 million compared with a net loss of $655,172 for 1999. Earnings per share also dipped from a loss of 26 cents to a loss of 42 cents.
But company Chairman and CEO Gerald S. Hurlow said investments made to ready the automation software for marketing in 2000, and to reengineer its Rogers operations center, will pay off.
“We are looking forward to executing the next phase of Delta’s business plan,” Hurlow said in a release. “The work to build this foundation for growth was completed by the first quarter of 2001, and we expect future revenue growth to be generated from sales of fulfillment systems, renewed packaging systems growth and the commencement of sales of software licenses.”
The fact that Delta is investing in its future is evidenced by its EBITDA, earnings before interest, taxes, depreciation and amortization. That figure grew from $655,172 in 1999 to $4.6 million in 2000.
Delta has made some changes in its management team. Jake Bushey has been elevated to chief financial officer and executive vice president. Doug Schuchart is president of Delta’s Device Bus Integration subsidiary, and Robert Benson is director of engineering for the firm’s fulfillment automation business.
Delta has two divisions, Delta Software Inc. and Delta Automation Solutions Inc.
Jeffrey Wood may be reached via e-mail at [email protected].