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Sparton Reports Q3 Sales Up 22% YoY |
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Written by Chelsey Drysdale
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Friday, 09 May 2008 |
JACKSON, MI – EMS provider Sparton Corp. reported sales for the fiscal third quarter of 2008 totaled $58.14 million, up 21.8% year-over-year.
The company reported net income of $634,000 for the third quarter, compared to a net loss of $2.29 million last year.
An operating loss of $424,000 was reported for the fiscal third quarter, compared to an operating loss of $3.69 million in the same quarter last year.
Medical/scientific instrumentation sales increased $4.28 million from last year, partially a result of new customer programs, the firm said. In addition, higher demand from three existing customers contributed $3.44 million of the increase.
Aerospace sales were up $2.8 million from prior year in part because of increased sales to an existing customer of $1.07 million.
Government sales continue to be significantly above 2007, with an increase of 80.9%, as a result of sonobuoy testing. However, industrial/other sales declined $2.4 million because of lower demand from one customer.
Sales for the nine months ended March 31 totaled $171.9 million, up 15.3% from the same period last year.
The company reported a net loss of $2.65 million for the fiscal year to date, versus a net loss of $6.14 million for the corresponding period last year.
Medical/scientific instrumentation sales increased $12.2 million. Aerospace sales were up slightly from prior year, primarily due to increased sales to one existing customer of $1.77 million.
Government sales for the period increased 92.9% year-over-year. Industrial/other sales declined $11.12 million.
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