News
JACKSON, MI – EMS provider Sparton Corp. reported first-quarter fiscal 2009 sales of $54 million, down 8.25% year-over-year.
Gross profit was $2.38 million, up 3.22% compared to the same period last year.
For the quarter, Sparton recorded an operating loss of $2.85 million, compared to an operating loss of $2.05 million last year.
The firm reported consistent sonobuoy drop tests and improved sales in the aerospace market.
"We are disappointed at the lower than expected sales. We are very pleased with the successful and consistent execution of the sonobuoy contracts this year, as well as the increase in the aerospace sales and favorable forecast for future sales in the medical market as well,” said Richard Langley, interim CEO and president.
In addition, with the closure of the Albuquerque facility, while a difficult decision to make, will have a positive impact going forward … Gross inventories have decreased approximately $3 million over the past three months and over $7 million since the spring of 2008, primarily the result of better inventory management."
TORONTO -- SMTC Corp. bucked an industry trend, reporting upticks in third-quarter net income ($100,000) and revenue ($60.1 million).
Sales were up 11.3%, while earnings showed a big bump from the year-ago net loss of $1.2 million. However, sales were down 9% sequentially.
Sales were up 11.3%, while earnings showed a big bump from the year-ago net loss of $1.2 million. However, sales were down 9% sequentially.
MINNEAPOLIS -- Nortech Systems today said third-quarter net sales rose 7% from a year ago to $31.7 million, boosted by strength in the aerospace sector.
For the period ended Sept. 30, net income was $499,261, jumping 19% year-over-year.
For the period ended Sept. 30, net income was $499,261, jumping 19% year-over-year.
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