ICx Technologies, Inc. (Nasdaq GM: ICXT), announced today its operating and financial results for the full year ended December 31, 2009.
For the year ended Dec. 31, 2009, the Company reported revenues of $183.4 million compared to $170.2 million for the year ended Dec. 31, 2008, representing an 8 percent increase year-over-year. With respect to adjusted EBITDA, the Company achieved its first positive fiscal year, showing profits of $8.4 million, a $15.1 million improvement over the ($6.7) million loss in the previous year.
“In what can only be described as a difficult economic climate in 2009, heightened by the delay in passage of the FY 2010 defense bill, we are proud to have achieved our first positive fiscal year based on adjusted EBITDA profits. We believe that we have done the right things right, continuing to eliminate operational redundancies, improving our production efficiencies and focusing on what we do best, developing exceptional products and building our programs business, ” stated Colin Cumming, CEO of ICx Technologies.
