OnLine Power Supply Inc. (Centennial, CO) announced financial results for the quarter ended September 30, 2002. The company reported revenue of $1,585,376 in the third quarter of 2002, compared to revenue of $279,745 in the second quarter of 2002 and $946,734 in the third quarter of 2001. Gross profit in the third quarter was $548,753, or 35 percent of sales, compared to a gross profit of $229,661, or 24 percent of sales, in the same period a year ago. The company reported a net operating loss for the quarter of $750,750, or $0.04 per share, compared to a net operating loss of $786,449, or $0.04 per share, in the third quarter of 2001.
CEO Glenn Grunewald stated, "The company's refocus on niche markets in both the industrial and communications segments have generated significant interest and inquiries and we expect these areas to provide the bulk of our revenues during 2003."
