Checkmate Reports Weak Market
Checkmate Electronics, Inc., announced in late July that they
would not report a profit in their second quarter earnings. According
to Jerry P. Malec, CEO of Checkmate, the loss is due to unanticipated
softness in retail capital spending. Malec continued, "Checkmate has
grown from an annual sales base of 2.9M in 1991 to 35M in 1996. While
the Company's sales have slowed in the current year, the Company
continues to build its product development, marketing, sales, and
support areas in order to generate sales volumes in the future. Over
the next several weeks we expect to see a clearer picture of trends
for the remainder of 1997 and early 1998." Checkmate manufactures,
develops, and markets POS payment automation systems and terminals
including check readers, signature capture devices, and MICR
analyzers.
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