VCom closes IPO, announces Q1 results

VICTORIA - VCom Inc. announced Monday that total revenue for the first quarter, ended September 30th, was $17.3 million, a 10% increase “over the average quarterly total revenue for the fiscal year ended June 30, 2005.”It’s the company’s first public quarterly report. Gross margin was 37%, and net income for the first quarter was $2.4 million, or $0.13 per share, it said. As stated in its initial public offering final prospectus, net income for the year ended June 30, 2005 benefited from recognition of unearned revenue on the termination of an OEM supply contract. Excluding the effect of that non-recurring...