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FORT LAUDERDALE, Fla., Dec. 28 /PRNewswire-FirstCall/ -- Sunair Services
Corporation (Amex: SNR) today announced the results for the fiscal year and
quarter ended September 30, 2005.
Sunair Services Corporation today announced revenue of $13,713,936 for the
quarter ended September 30, 2005, a 248.6% increase over revenue of $3,934,232
for the same period in the prior year. Net income (loss) for the quarter was
$(369,101), compared to $222,907 reported in the previous year. Primary
earnings (loss) per share for the quarter were $(0.04), compared to $0.06 for
the same period last year. The Companys earnings in the fourth quarter
decreased primarily due to a net operating loss incurred by Telecom FM, a
wholly-owned subsidiary of Sunair, and fees incurred based on the purchase
agreement entered into with Royal Palm Capital Partners in February 2005.
The company also announced revenue of $31,451,770 for the fiscal year
ended September 30, 2005, a 218.2% increase over the $9,885,375 reported last
year. Net income for fiscal year 2005 was $595,552 and primary earnings per
share were $0.08. For the previous year, net income and primary earnings per
share were $1,130,220 and $0.30.
Customer backlog at September 30, 2005 was $4,542,000 as compared to
$7,208,000 at September 30, 2004.
SUNAIR ELECTRONICS, INC. & SUBSIDAIRY
CONSOLIDATED SUMMARY OF INCOME FOR THE QUARTER
AND YEAR ENDED SEPTEMBER 30, 2005 (AUDITED)
TWELVE MONTHS THREE MONTHS
2005 2004 2005 2004
REVENUES $31,451,770 $9,885,375 $13,713,936 $3,934,232
INCOME BEFORE TAXES $179,999 $1,630,575 $(1,105,333) $351,162
BENEFIT (PROVISION)
FOR INCOME TAXES 415,558 (500,355) 736,232 (128,255)
NET INCOME 595,552 1,130,220 (369,101) 222,907
AVERAGE SHARES
OUTSTANDING
BASIC 7,556,857 3,830,487 10,085,163 3,930,207
AVERAGE SHARES
OUTSTANDING
DILUTED 11,478,074 3,919,127 14,141,684 4,011,893
EARNINGS PER COMMON
SHARE
BASIC $0.08 $0.30 ($0.04) $0.06
EARNINGS PER COMMON
SHARE
DILUTED $0.05 $0.29 ($0.03) $0.06
Sunair Services Corporation ("Sunair," the "Company," "us," "we" or "our")
is a Florida corporation organized in 1956. We changed our corporate name
from Sunair Electronics, Inc. to Sunair Services Corporation in November 2005.
We operate through three business segments: Lawn and Pest Control Services;
High Frequency Radio and Telephone Communications.
Our Lawn and Pest Control Services segment provides lawn care and pest
control services to both residential and commercial customers.
Our High Frequency Radio segment designs, manufactures and sells high
frequency single sideband communications equipment and develops software and
performs the design, integration testing and documentation of Communications,
Command, Control, Computers, Intelligence, Surveillance and Reconnaissance, or
C4ISR, systems utilized for long range voice and data communications in fixed
station, mobile and marine for military and governmental applications.
Our Telephone Communications segment installs and maintains telephony and
fixed wireless systems.
Information Regarding Forward-Looking Statements
Some of the statements in this press release, including those that contain
the words "anticipate," "believe," "plan," "estimate," "expect," "should,"
"intend" and other similar expressions, are forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995. Those
forward-looking statements involve known and unknown risks, uncertainties and
other factors that may cause our actual results, performance or achievements
expressed or implied by those forward-looking statements. Among the factors
that could cause actual results, performance or achievements to differ
materially from those described or implied in the forward-looking statements
are general economic conditions, competition, potential technology changes,
changes in or the lack of anticipated changes in the regulatory environment in
various countries, the ability to raise additional capital to finance
expansion, the risks inherent in new product and service introduction and the
entry into new geographic markets and other factors included in our filings
with the Securities and Exchange Commission (the "SEC"). Copies of our SEC
filings are available from the SEC or may be obtained upon request from us. We
do not undertake any obligation to update the information contained herein,
which speaks only as of this date.
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