|
HEI Reverses Fiscal 2007 Loss |
|
|
|
Written by Mike Buetow
|
|
Friday, 10 October 2008 |
|
MINNEAPOLIS – HEI reported fourth quarter sales of $11.8 million, up 133%
over last year.
For the period ended Aug. 30, the company reported $473,000 in net profits,
easily topping its previous earnings year-to-date. The company had a
net loss of $723,000 in the year-ago quarter.
For fiscal 2008, net sales were $42 million, up from $38.4 million in fiscal
2007. The net income was $861,000, reversing a net loss of $5.7 million. Cash
flow from operations was
HEI also announced it would change its fiscal year end
to the Saturday closest to Dec. 31. |
News