Gross margins in the third quarter were 40%, compared with 35.4% in the prior year quarter. The prior year quarter gross margin was adversely impacted by an unusually large warranty charge of approximately $180,000. Operating costs, excluding patent litigation expense, declined to $5.1 million compared with $5.7 million in the prior year period, principally as a result of cost reduction programs.
Vicon Industries, Inc. designs, engineers, assembles, and markets a wide range of video and access control systems and system components used for security, surveillance, safety, communication and process control purposes by a broad group of end users worldwide.
This news release contains forward-looking statements that involve risks and uncertainties. Statements that are not historical facts, including statements about the adequacy of reserves, estimated costs, Company intentions, probabilities, beliefs, prospects and strategies and its expectations about expansion into new markets, growth in existing markets, enhanced operating margins or growth in its business, are forward-looking statements that involve risks and uncertainties. Actual results and events may differ significantly from those discussed in the forward-looking statements and the Company undertakes no obligation to publicly update or revise any forward-looking statements.
|Vicon Industries, Inc.|
|Condensed Statements of Operations|
|Three Months Ended June 30,||Nine Months Ended June 30,|
|Selling, general and administrative expense||3,854,000||4,223,000||11,649,000||12,368,000|
|Engineering and development expense||1,286,000||1,515,000||3,959,000||4,428,000|
|Patent litigation expense||--||5,125,000||--||5,375,000|
|Loss before income taxes||(478,000||)||(6,966,000||)||(1,002,000||)||(8,618,000||)|
|Income tax expense||19,000||2,548,000||57,000||2,063,000|
|Loss per share:|
|Shares used in computing loss per share:|
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