November 20, 2007
Acquisitions increase revenues at Solomon Tech
East Berlin-based Solomon Technologies Inc., a manufacturer of electric power drive systems, reported third quarter revenues increased to $2.1 million from $800,000 at the same time last year. Revenues in the company's power electronics division contributed to all of the growth as a direct result of the acquisitions of Technipower LLC in August 2006 and Deltron LLC in September 2007. Gross profit also climbed to $1 million in Q3 from $191,000 at the same time in 2006. The latest quarter saw an order backlog of $4 million, a 60 percent increase from last year.
WBJ Web Partners
Most Recent
Most Recent
0 Comments