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Telenetics Says Motorola Deal to Triple Income

November 22, 2000|Dow Jones

Telenetics Corp. said Tuesday it expects its recent licensing agreement with Motorola Inc. to triple 2001 revenue, making the company profitable for the year sooner than the company had expected.

Lake Forest-based Telenetics, which provides wireless communications systems, will manufacture, market and further develop Motorola transmission products under the agreement.

For the six months ended June 30, Telenetics lost $3.9 million, or 29 cents a share, on revenue of $4.3 million.

The stock moved up 38 cents a share to $2 in Nasdaq trading. The shares traded as high as $9 in February.

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