TRAVERSE CITY, Mich., March 6 /PRNewswire-FirstCall/ -- Versus Technology, Inc. ("Versus" or the "Company") (OTC Pink Sheets: VSTI) announced revenues of $1,613,000 for the fiscal quarter ended January 31, 2009, a 13% increase over revenues of $1,426,000 for the same period in 2008. The growth in revenue is attributable, in part, to more than a four-fold increase in software sales and a doubling of service revenues. Versus' quarterly revenues can vary significantly depending upon the timing of delivery of major customer projects. Accordingly, the revenues reported in any one quarter are not necessarily indicative of what full year results will be.
Gross profits as a percentage of revenues were 76% for the quarter compared to 71% for the same period in 2008. The increase in gross profit percentage is attributable to the increase in software sales and service. Operating expenses other than cost of revenues for the quarter were 74% of revenues compared to 81% of revenues for the quarter ended January 31, 2008.
Versus reported a pre-tax net income of $37,000 for the quarter, compared to a net loss of $130,000 for the same period in 2008.
For additional information, please refer to the attached unaudited consolidated financial statements.
About Versus Technology, Inc.
Versus Technology, Inc. is the leader in the development and sale of
context-aware real-time location systems (RTLS) used for enterprise patient
tracking, bed management and asset tracking to improve patient flow and
caregiver/patient communications in hospitals, clinics and long-term care
facilities. Versus also develops dual infrared and Active RFID tags and other
location tracking hardware to make locating systems more precise, security
systems more intelligent, nurse call systems automatic, and hospital asset
tracking systems more efficient. Indoor positioning through Versus' RTLS
|SOURCE Versus Technology, Inc.|
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