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CirTran’s Revenues Up 42% in 2007 |
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Written by Chelsey Drysdale
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Wednesday, 16 April 2008 |
SALT LAKE CITY – EMS provider CirTran Corp. reported revenue of $12.4 million for 2007, up 42% year-over-year during what its president and CEO Iehab J. Hawatmeh called “an investment year.” CirTran’s gross profit was $3.2 million, down 3% compared to 2006, as a result of higher than expected cost of sales experienced in entering the online marketplace, along with lower margins on startup marketing services, the company said. For the year, CirTran reported a net loss of $7.2 million, up from 2006’s loss of $2.9 million, which was attributed to increases in selling, general and administrative expenses. |
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