EF Johnson parent raises financial guidance
EFJ Inc., the parent company of EF Johnson, which produces Project 25 mobile-communications solutions, recently said its fiscal 2003 revenue would fall into a range between $53 million and $55 million, up from previous guidance of $45 million to $47 million. Additionally, the company said its net income, before income taxes and excluding any non-cash expenses associated with the re-pricing of options in 2000 and 2001, is expected to range from $0.15 and $0.17 per share. This compares to previous guidance of $0.13 to $0.16 per share. The company said it expects fourth-quarter sales to exceed earlier estimates, primarily due to increased sales posted by EF Johnson.