Conolog Corp. soars on report of new orders
Digital processing systems maker Conolog Corp. (Nasdaq: CNLG) reported it has received 20 new orders for its PTR-1500 systems. The systems are used for protecting high-voltage, fiber optic transmission lines.
"With this order, we will have delivered $1.2 million in protection equipment in various configurations to this utility," CEO Robert Benou said in a statement. "Our PTR systems are designed to be field friendly for ease of installation and updates as they become available."
The Somerville, N.J.-based company introduced its PTR-1500 systems in 2000.
In pre-market trading, shares of the company have skyrocketed more than 24% at $2.37. Over the last 52 weeks, shares of the company have ranged between $1.10 and $5.08.
