TORONTO -- Adeptron Technologies, an electronics manufacturer and system integrator, today said 2004 revenues more than doubled to $33.5 million, compared to $15.1 million in 2003.

Sales were boosted $10.5 million by by the Ottawa operations acquired in the first quarter of 2004. Organic growth was $7.9 million, the firm said.

The adjusted net loss $800,000, up from $200,000 last year.

The GAAP net loss was $3.18 million, versus $2.01 million in 2003. The company took one-time charges of $300,000 for the purchase of the Ottawa plant and $400,000in inventory writedowns.

Gross margin was $2.8 million, up from $1.1 million last year.

Fourth quarter sales were up 91% to $8.5 million year-on-year, but down $900,000 sequentially.

President and CEO F. Michael Marti guided for first quarter slightly lower revenue on a sequential  basis. Second quarter sales are expected to rebound to third quarter 2004 levels.

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