TORONTO, Aug. 12 -- EMS provider Adeptron Technologies reported revenues of C$9.6 million for its June quarter, up from C$6 million sequentially and C$3.6 million last year.

About C$3 million came from sales from its Ottawa operations, which Adeptron acquired last quarter.

Gross margin was C$1 million, up C$900,000 from the first quarter and C$300,000 last year.

F. Michael Marti, President and CEO of Adeptron, attributed the improvement to stronger pricing and improved currency exchange rates.

SG&A expenses were C$1.4 million, or 14% of sales, down from 22% of sales sequentially and 20% last year.

"Adeptron's revenues and gross margins are increasing at a more dramatic rate than SG&A," said Marti.

Adjusted net earnings were C$58,090, vs. adjusted net losses of C$509,128 last quarter and C$23,414 last year. The GAAP net loss was C$600,000 ($0.02 per share), compared to C$1.1 million last quarter and C$500,000 in Q2 2003.

"Although we expect that the incremental growth rate in revenues for the rest of the year will be less dramatic ... we anticipate that quarterly revenue run rate will continue to build from Q2 levels," Marti  said.

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