Conolog Reports EPS of $(0.12)

Conolog Corporation CNLG reported today its financial results for the fiscal quarter ended October 31, 2010 and re-stated financial results for the fiscal quarter ended October 31, 2009. The Company recorded a net loss of $831,585 for the three month period ended October 31, 2010, as compared to a net loss of $26,959,204 for three month period ended October 31, 2009. An increase in gross profit margin of approximately $45,200 also contributed to a decrease in net loss, as well as, reduction in operating expenses of approximately $1,396,846 mainly result of noncash stock compensation of $1,411,200 in first quarter fiscal year 2010. As a result of the foregoing, the Company reported net loss applicable to common shares for the three months ended October 31, 2010 of ($0.12) basic and diluted loss per share compared to a net loss per common share of ($13.73) basic and diluted loss per share, for the three months ended October 31, 2009.