![]() However, despite the difficult economy with budget cutbacks, I am very pleased to report that Brekford has managed to achieve a positive net income for the year. We have also self funded an entire new division of the company (Automated Traffic Enforcement Group), kept the company debt free and continue to provide superior quality equipment and services to public safety agencies. Brechin, Chief Executive Officer of the company, commented, "2010 was a challenging year for the Company due to the budget cutbacks suffered by the federal, state and local governments. The Company's cash position as of the end of 2010 remains positive at $1.5 million.Ĭ.B. The gross profit for 2010 was $1.9 million compared to $2.6 million for 2009.įor the year ended December 31, 2010, the Company reported net sales totaling approximately $11.6 million, a decrease of $3.0 million from 2009. The decrease in net income was primarily due to lower revenues in 2010 due to budget cuts and continued tightening of expenditures by federal, state and local governments in 2010. The decrease was primarily due to tighter controls and cost cutting measures implemented by management. ![]() The Company's operating expenses for 2010 were $1.8 million compared to $2.0 million for 2009.
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