Sutron Corporation : Reports Fourth Quarter and Full Year 2012 Results

Sterling, VA, March 28, 2013 -- Sutron Corporation (NASDAQ: STRN)

• 2012 Record Net Revenue of $25.2M, Up 25% From Prior Year

• Q4 Net Revenue of $7.6M, Up 26% From Prior Year's Quarter

• 2012 Net Income of $1.1M, Down 25% From Prior Year

• Q4 Net Income of $176,787, Down 75% From Prior Year's Quarter

• 2012 Free Cash Flow of $1.45M, Up From ($221,000) In Prior Year

• 2012 Record Bookings of $29M Exceed Total Prior Year Bookings by 60%

• December 31, 2012 Backlog of $13.4M, Up 39% From Prior Year-End

Sutron Corporation (NASDAQ: STRN), a leading provider of hydrological, meteorological, oceanic and aviation monitoring products, systems, software and services, announced results for the fourth quarter and full year ended December 31, 2012.

Raul McQuivey, Chairman and Chief Executive Officer, stated, "Our vision and long term priorities are revenue growth, steady improvement in operating margins and net income and maintaining a strong balance sheet. In the fourth quarter, revenue grew to $7.6 million, up 26% from the prior year quarter, contributing to record full year revenue of $25.2M in 2012; over $9 million of bookings were recorded that brought the total for 2012 to $29 million, exceeding total bookings for the prior full year by 60%, and our cash position increased to $8.4 million from $7.4 million at the end of the third quarter. Due to an increase of approximately $186,000 in bad debt expenses, a write-off of approximately $130,000 of slow moving inventory, a change in the mix of products and systems sold, as well as significant research and development expenses in our MeteoStar Division, net income was down from the prior year quarter. "