ADVANCED ELECTRONIC SUPPORT PRODUCTS, INC.
REPORTS HIGHER EARNINGS AND RECORD SALES
Miami, Florida. April 3, 2000 Advanced Electronic Support Products, Inc. (NASDAQ: AESP/AESPW ) announced today results for the fiscal year ending December 31, 2000. During year 2000, the Company generated a record sales of $30.2 million which is 14.2% higher than sales of $26.5 million for the same period of 1999. The net profit for fiscal 2000 was $712,000 compared with a net profit of $387,000 for 1999, or an 83% increase. Earnings per diluted share were $.18 for the year ended December 31, 2000, compared to $.12 per diluted share for the year ended December 31, 1999.
"We are extremely pleased with our results of the year, " said Slav Stein, President and CEO. "The Company continued to grow during year 2000 and is transforming itself into a prime manufacturer of networking hardware". Mr. Stein continued, "We acquired LANSE AS in Norway during year 2000. This acquisition enhances our position as a valuable player in the European networking market. We continue to introduce new products on the market and just last week announced two new product lines on the largest show in the world - CeBIT in Hanover. We are going to market with our new concept: "Connectivity Made Simple.Ô " This is a complete networking connectivity solution which our customers can easily implement without significant technical support and at the same time is very reliable at very competitive prices."
Advanced Electronic Support Products, Inc designs, manufactures and markets network and connectivity products in the United States, Western Europe and Eastern Europe. The Company sells a complete line of active and passive networking products for copper and fiber based LAN and WAN networks, as well as computer connectivity products.
Safe Harbor Disclosure under the 1995 Securities Litigation Reform Act.
This news release contains forward-looking statements, which involve risks and uncertainties. The Companys actual future results could differ materially from the results anticipated herein. For information regarding factors that could impact the Companys future performance, see the Companys filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-KSB for 2000.
| For further information, please contact: Slav Stein, President and CEO Roman Briskin, Executive Vice President , Roy D. Rafalco, Chief Financial Officer Advanced Electronic Support Products, Inc. 1810 N.E. 144th Street North Miami, Florida 33181 305-944-7710 |