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CSI Wireless is a designer, manufacturer and marketer of wireless products, GPS products and products that combine wireless and GPS. With sales in more than 40 countries, CSI (TSX: CSY) is one of North America's fastest-growing technology companies — achieving revenue increases that have averaged 59 per cent each year since 1997.

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2003 Annual Report
 
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Investor News
  • An experienced high-tech and financial services specialist has joined CSI Wireless' board of directors.
  • We reported record-breaking profits in the second quarter of 2004.
  • We have $15 million of new purchase orders from RHS Inc. for our Outback agriculture guidance products
  • CSI and its firxed wireless telephones received extensive coverage in the national Globe and Mail newspaper.
  • We have $18 million of new purchase orders for our Motorola-branded fixed wireless telelphone.
  • Read The Wall Street Transcript's recent interview with CSI Wireless CFO Cameron Olson
  • An agreement to supply Asset-Link asset-tracking products to Caterpillar, one of the world's largest construction equipment manufacturers.
  • Net earnings of $726,000, and record gross margins, in the first quarter of 2004
  • Our first-quarter conference call on April 27 with analysts and investors.
  • A 31-per-cent revenue increase, and significant bottom-line improvements, in our 2003 financial results.
  • A $16.25-million financing that has dramatically improved our balance sheet.
  • Financial Highlights

    2003 2002 2001 2000 1999
    Revenue $71,046 $54,136 $40,961 $26,591 $16,360
    Gross Margin 18,761 15,898 13,114 7,706 6,919
    Gross Margin % 26% 29% 32% 29% 42%
    Net Income (Loss)1 (553) (3,857) (6,874) (5,644) 801
    Research & Development 7,017 8,049 8,142 4,116 1,261
    Total Assets 41,017 40,737 39,525 36,980 11,409
    Shareholders' Equity² 26,870 19,527 18,847 17,362 4,037
    Earnings per share $(0.02) $(0.20) $(0.39) $(0.53) $0.13
    In thousands except for gross margin %
    ¹ before goodwill amortization
    ² excluding preferred shares