Super Vision International, Inc., has claimed record sales for the year ending December 31, 2000. The Orlando, FL-based company designs and manufactures LED and fiber optic lighting products, signs, and displays for applications in the signage, swimming pool, architectural and retail industries.
Total revenues for the three months ending December 31, 2000, were $4,005,636, an increase of $1,150,338 or 40% as compared to the fourth quarter of 1999. Revenues for the year ending December 31, 2000, were $11,654,167, an increase of $1,844,907 or 19% as compared to 1999.
Super Vision generated operating income of $166,692 for the fourth quarter of 2000 as compared to an operating income of $97,826 in the same quarter last year. Operating loss for the year ending December 31, 2000, was $42,100, as compared to an operating loss of $40,600 in 1999.
Net income for the fourth quarter 2000 was $74,691 compared to a net income of $18,808 in 1999, an increase of 297%. For the year ending December 31, 2000, the net loss was narrowed to $259,211 from $355,741 for 1999.
Earnings per share for the fourth quarter 2000 were $0.03 as compared to $0.01 for the same period of 1999. For the year ending December 31, 2000, the net loss per share was $0.10 as compared to a net loss per share of $0.14 in 1999.
For the full year 2000, Super Vision also generated cash from operating activities in the amount of $798,719 compared to $57,574 in 1999, an increase of $741,145.
Larry Calise, chief financial officer of Super Vision, stated "The operating loss remained unchanged from 1999 mainly due to the increase in legal fees and inventory reserve for potentially slow moving inventory."
Said Brett Kingstone, president/CEO of Super Vision, "Although we are very proud of having the best sales year in our company's history we are re-dedicating our focus to growing our profitability as well. Super Vision went into the year 2001 with the largest backlog in our history of approximately $1.5 million. Our staff will continue their efforts to make 2001 another record year."