TORONTO - Adeptron Technologies, an integrator of electronics products, today reported March quarter revenue of $8.47 million, up 42% from 2004. The GAAP net loss narrowed to $460,000 vs. $1.1 million in 2004.

Sales improved "significantly" during the quarter, the company said, and current indications "are that this strength has continued into the second quarter."

Of the sales increase, $1.24 million came from the company's Ottawa operations acquired in the first quarter 2004.

For the quarter, gross margin increased to $930,000, from $100,000 a year ago. Selling, general and administrative costs were $1.14 million, down 13.6% from $1.32 million.

Sequentially, sales were slightly higher while the net loss was lower.

F. Michael Marti, president and CEO, said Adeptron "has made significant progress by reducing costs while maintaining revenue. Starting in the fourth quarter of 2004, we engaged in an aggressive and ongoing campaign to improve the cost structure. The cumulative effects of these cost reduction measures will be more evident in the second quarter and fully reflected by the third quarter."

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