Subject: [NEXTEL-1] EFJ, Inc. Reports Revenue Growth of 64% in the Second Quarter

From: [email-masked]
Date: Wed, 04 Aug 2004 20:41:24 -0400

EFJ, Inc. Reports Revenue Growth of 64% in the Second Quarter
Washington, DC – August 3, 2004 – EFJ, Inc. (NASDAQ: EFJI) today
announced second quarter 2004 revenue of $17.6 million. This represents
a 64% increase from revenue of $10.7 million in the second quarter of
2003. The increase in revenue in the second quarter was driven by
increased sales in both homeland security communications for first
responders and international security products.
EFJ, Inc. reported a loss of $1.5 million or $0.08 loss per share. This
includes a non-cash expense of $3.4 million, or $0.19 per share, to
reflect the variable accounting treatment of re-priced options.
Excluding the impact of variable accounting treatment of re-priced
options, net income for the second quarter of 2004 was $1.9 million, or
$0.11 per share.
In the second quarter of 2003, the company reported a net loss of $0.1
million or $0.01 loss per share, which included a non-cash benefit of
$0.1 million or $0.01 per share, to reflect the variable accounting
treatment of re-priced stock options.
“Significant margin improvement in the second quarter brought our gross
margin to 44% on a year to date basis which is in line with our 2004
guidance. Our backlog also increased to $11.4 million at the end of the
second quarter compared to $5.6 million for the same period a year ago,”
said Michael E. Jalbert, EFJ, Inc. chairman and chief executive officer.

“We continue to confirm our 2004 annual guidance. Our guidance reflects
fluctuations due to the timing of customer funding which may result in
uneven year over year quarterly performance.  However, we believe that
our ongoing investment in people for research and development,
sales/marketing and our accelerated facilities relocation and
outsourcing initiatives are positioning EFJ, Inc. for continued growth
in 2005 and beyond.” Jalbert said.
The Company announced on July 15, 2004 that it has scheduled an investor
conference call at 1:00 p.m. Eastern Time today. The call is available
via 800-967-7185. Replays of the call will be available starting at 2:00
p.m. EDT on Tuesday, August 3rd and continuing until 11:59 p.m. Friday
August 6, 2004. The replay number is 888-203-1112, and the reservation
number is 508233. The call will be accessible via webcast at
www.vcall.com by clicking EFJI under “Today’s VCalls.”
EFJ, Inc is the Washington, DC based parent company to industry-leading
wireless telecommunications solutions businesses. EFJ, Inc. is home to
the EFJohnson Company, one of the first developers of Project 25 mobile
communications products compliant with federal government
interoperability standards, and Transcrypt International, a leader in
secure voice communication solutions. For more information, visit
www.efji.com.
http://www.efjohnson.com/newsdetail.asp?id=228

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