Vicon Reports 2010 Fiscal Results, United-Guardian Posts Record Dividend And Orbit Receives Navy Contract

Vicon reports its Fourth Quarter and 2010 Fiscal Year results

Vicon Industries, a Hauppauge-based designer and producers of video and surveillance systems, announced its fourth quarter sales were down with an overall net loss in the 2010 fiscal year. 

In the fourth fiscal quarter of 2010 ending Sept. 30, Vicon said its sales were $13.1 million, down 14 percent compared to $15.3 million in the same fiscal quarter of last year. The company's net income was down at $120,00, equaling 3 center per diluted share compared to 14 cents last year.

For the 2010 fiscal year, the company's overall sales total $487 million, a 19 percent decrease from the $60.4 million in the prior fiscal year. Vicon's  net loss was $1.25 million, or 28 cents a share, when compared to 2009.

"While business in the U.S. exhibited some strengthening during the year, our international business was weak throughout the entire year. Foreign revenues were hurt by a combination of unfavorable exchange rates and weak economies," said Vicon Chairman and CEO Ken Darby in a press statement.

The company's U.S. Revenues were down 2 percent in the fourth fiscal quarter, compared with a 31 percent dropoff in overseas business.

In accounting for the year, Vicon managed to lower operating costs to $5.4 million from $6.2 million in the fourth quarter of 2009 fiscal year; as it was reflective of the year's operation costs at $22.4 million instead of the prior year's $24.3 million.

United-Guardian declares stockholder's dividends for 2010

Hauppauge-based manufacturer United-Guardian said on Thursday its board of directors announced a 33 cent per share cash dividend to be paid to all stockholders. It will be paid on Dec. 27.

This increases the $0.63 per share the dividends declares by the company. Hence, creating a record dividend for United-Guardian as its a 5 percent increase over last year.  It's the 15th consecutive year the company has paid a year-end dividend. 

"As a result of our strong year-to-date earnings, along with our expectation that revenue for the year will again reach record levels, the company's Board of Directors has determined it is in the best interests of the company and its stockholders to share in the company's profitability," said Ken Globus, president of United-Guardian, in a press statement. 

United-Guardian manufactures personal and health care products, pharmaceuticals, cosmetic bases and special industrial products.

Orbit receives contract from U.S. Navy worth more than $275,000

Orbit International announced on Thursday that its electronics group received a prototypes award from a U.S. Navy Procurement Agency value at more than $275,000 for an MK 110 Signal Data Converter.

The MK 1100 SDC is an unmanned, environmentally -isolated shipboard enclosure that houses a 19-inch electronics rack that holds processors, electronic devises, cooling and power conditioning equipment  for the Gun Computer System in Arleigh Burke Class U.S. Navy Destroyers.

The contract will be carried out by Orbit's subsidary, Integrated Combat Systems, located in Louisville, Kent. Deliveries are expected to begin in the first quarter of 2011 fiscal year and continue into the second quarter.

"Critical multi-year U.S. Navy programs are underway and are designed and funded to upgrade and modernize the current U.S. Navy fleet. We recently announced that ICS received significant contract awards for its MK 119 and MK 437 product lines and noted that there were additional opportunities we were pursuing," said Dennis Sunshine, Orbit's president and CEO, said in a press statement.