BreezeCOM turned profitable in 2000, annual statement shows

Broadband wireless company reports 127% jump in annual revenue
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BreezeCOM

(Nasdaq:BRZE) reported that annual revenues for 2000 jumped 127% against 1999 to $101 million.

Net operating income for 2000 was $3 million, compared to a net operating loss of $2.6 million in 1999.

Net income for the year 2000 was $10 million, or 33 cents per diluted share, compared with a net loss of $3.6 million, or 32 cents net loss per share, for the parallel quarter of last year.

Fourth-quarter 2000 revenues came to $32.4 million, a 154% increase over the $12.7 million recorded for the fourth quarter of 1999, and a 12% increase over third quarter 2000 revenues of $29 million.

Net operating income came to $1.3 million in Q4 2000, compared with an operating loss of $629,000) in the same period of 1999.

Net profits for the quarter were $3.9 million, or 12 cents per diluted share, compared with a net loss of $765,000, or 7 cents net loss per share, in the corresponding period of 1999.

BreezeCOM president and CEO Zvi Slonimsky said the company actually exceeded is strategic targets. "We became profitable, more than doubled our revenues and demonstrated solid quarter-over-quarter growth," he said.

"We substantially increased our penetration into Latin America and Asia Pacific and believe this growth will position us for continued success in 2001," he said.