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Thursday, Feb 9, 2023
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SYS Swings Into Profitable Territory

SYS Technologies, a San Diego-based provider of information technology services mainly to federal government agencies, reported net income of $45,000 on revenue of $18.1 million for its second quarter ended Dec. 31. SYS made the announcement Feb. 11.

That compared with a net loss of $342,000 on revenue of $19.2 million for the like period of the prior fiscal year.

For the six months, SYS reported net income of $572,000 on revenue of $38.6 million. That compared with a net loss of $457,000 on revenue of $35.4 million in the prior year’s first half.

Chief Executive Officer Cliff Cooke forecast revenue for the third quarter in a range from $19 million to $20 million, and to be profitable.

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Traded under SYS on the American Stock Exchange, shares were at $1.80 as of Feb. 11 before the market closed. Its 52-week range is $1.30 to $2.80.

, Mike Allen

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