Mcglen Reports Positive Numbers

Mcglen Internet Group Inc., a Tustin specialty technology company, said Thursday that it expects revenue for the fourth quarter to be about $5.6 million, up slightly from third-quarter revenue of $5.5 million.

In a press release, the company said it expects to report annual revenue of about $31 million for last year.

Mcglen said its gross profit margins have been improving--to about 11% of sales from 8% in the third quarter--while its final-quarter expenses have been sharply reduced from the previous quarter.

The company said it believes that the pending merger with Lan Plus will offer “substantial growth opportunities.” Meantime, its executives plan to meet with Nasdaq officials to figure out what the company needs to do to comply with listing requirements. Mcglen was notified recently that it didn’t satisfy certain continued-listing requirements on the Nasdaq Small-Cap Market.

Its stock closed Thursday at 59 cents, off 3 cents a share, in Nasdaq trading.