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October 28, 1997updated 01 Sep 2016 3:57pm

JAVELIN SYSTEMS POSTS SLIM Q1 PROFIT ON NEW BUSINESS

By CBR Staff Writer

Javelin Systems Inc, the Irvine, California-based company that develops and markets open system, touch screen point-of-sale computers, has reported first-quarter net income of $21,172, or $0.01 per share, on revenue up 118% at $2.95m, compared to a loss of $102,425 a year ago. The company says that during the quarter it signed contracts with Davidson Hotels and Greyhound Lines for the deployment of its systems. It also expanded its distribution network with an OEM deal with Omron Systems worth about $5m over three years. In Q1 Javelin also implemented its first large international roll out with a chain of restaurants in the UK. Gross margins rose slightly to 23.%, current assets stand at $4.5m and there is no long-term debt on the company’s balance sheet.

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