Costar Technologies, Inc. Announces Financial Results For the Fourth Quarter and Year Ended December 31, 2018
COSTAR TECHNOLOGIES INC (CSTI)
NASDAQ:AMEX Investor Relations:
costartechnologies.com/investor-relations/financial-reports
Company Research
Source: PR Newswire
COPPELL, Texas, June 3, 2019 /PRNewswire/ -- Costar Technologies, Inc. (the "Company") (OTC Markets Group: CSTI) announced today its financial results for the fourth quarter and year ended December 31, 2018 that have been audited by the independent accounting firm BKD, LLP. The Company completed the acquisition of Arecont Vision, LLC ("AVC"), a leading manufacturer of network and megapixel surveillance cameras, on July 13, 2018. The financial results of AVC are included from July 14th through year-end. Financial Results for the Quarter Ended December 31, 2018Revenue of $17,042, a 31.9% increase compared to the prior year fourth quarter, but an 11% decrease excluding the AVC acquisition. The decrease was largely due to a previously announced order of more than $2,000 that shipped in the fourth quarter of 2017. Operating expenses were $8,839, compared to $1,745 in the fourth quarter of 2017. The primary drivers of the increase were AVC operating expenses of $3,725, a $3,064 difference
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