Sutron Corp. reports strong Q3
Sutron Corp. (Nasdaq: STRN), which provides hydrological and meteorological monitoring products, systems and services, today reported robust third-quarter financial results.
For the three months ended Sept. 30, the Sterling, Va.-based firm recorded net income of $1.2 million, or $0.27 per share, compared with net income of $0.37 million, or $0.09 per share, for the third quarter of 2006. No analyst estimates were available.
The small cap booked revenues of $6.6 million, an increase of 38% over $4.78 earned for the same quarter last year.
Sutron said the quarter’s revenues were primarily driven by shipments on two large projects. The company shipped water level monitoring equipment to three customers in China that is being provided for the Three Gorges Dam Project. The shipments totaled approximately $956,000.
Additionally, the company said it shipped water level, snow, rainfall and water quality monitoring equipment to Washington International Group, which is being provided to the Iraq Ministry of Water Resources. This shipment totaled approximately $2.2 million.
Going forward, Sutron executives said they expect a strong fourth quarter, as the firm plans to make its first shipment to Afghanistan on its $6 million contract with the Ministry of Water Resources.
Shares of Sutron (STRN) climbed 13.06%, or $1.18, to $10.18 at 2 p.m. ET. Shares of Sutron have been trading in the range of $6.20 to $12.94 for the past 52 weeks.
