News
VANCOUVER -- Northstar Electronics, a electronics contractor and OEM of sonar technologies, today reported third-quarter revenues climbed up 87% to $413,132, while the net loss from operations narrowed to $161,514.
Northstar CEO Dr. said, "We have taken measures to reduce salary and overhead expenses. These measures along with increased revenues have helped reduce the loss in the quarter to approximately 40% of the loss in the third quarter of 2005.
"During the quarter, we made good progress in our efforts to secure new contracts in defense and Homeland Security and anticipate concrete results shortly in several areas."
In the quarter, the company continued work on a Lockheed Martin contract for command and control consoles for submarines, on an a digital receiver for wireless underwater products, and on a sonar system for fisheries research.
Northstar CEO Dr. said, "We have taken measures to reduce salary and overhead expenses. These measures along with increased revenues have helped reduce the loss in the quarter to approximately 40% of the loss in the third quarter of 2005.
"During the quarter, we made good progress in our efforts to secure new contracts in defense and Homeland Security and anticipate concrete results shortly in several areas."
In the quarter, the company continued work on a Lockheed Martin contract for command and control consoles for submarines, on an a digital receiver for wireless underwater products, and on a sonar system for fisheries research.
RICHARDSON, TX -- TXP Corp., a provider of pre-manufacturing services for electronics
manufacturing, today reported September quarter sales of $1.7 million and net income was
$2.2 million.
The odd ratio was tied to a one-time revene gain in the third quarter 2005 and a large tax benefit in the just-completed period.
For the quarter net income included a non-cash gain of $2.7 million related to a change in the fair value of derivative financial instruments. TXP had net income of $405,000 in 2005.
Sales dropped $4.2 million from the quarter last year, when TXP booked $5.2 million from a one-time project with a single customer.
The operating loss was $215,000, down from income of $676,000 last year.
Total revenue year-to-date is $5.1 million, down from $8.5 million in 2005. The operating loss is $346,000, versus operating income of $332,000, and the net loss is $2.1 million, versus a net loss of $21,000 last year.
Excluding last year's one-time gain, core revenues rose 120% year-over-year and gross margin increased to 41% from 22% last year.
The odd ratio was tied to a one-time revene gain in the third quarter 2005 and a large tax benefit in the just-completed period.
For the quarter net income included a non-cash gain of $2.7 million related to a change in the fair value of derivative financial instruments. TXP had net income of $405,000 in 2005.
Sales dropped $4.2 million from the quarter last year, when TXP booked $5.2 million from a one-time project with a single customer.
The operating loss was $215,000, down from income of $676,000 last year.
Total revenue year-to-date is $5.1 million, down from $8.5 million in 2005. The operating loss is $346,000, versus operating income of $332,000, and the net loss is $2.1 million, versus a net loss of $21,000 last year.
Excluding last year's one-time gain, core revenues rose 120% year-over-year and gross margin increased to 41% from 22% last year.
ST. PETERSBURG, FL -- Jabil Circuit Inc. will restate its 2005 financial
reports as a result of a review of its historical stock options
practices. The company said it intends to
file any restated financial statements and its annual report for the
year ended Aug. 31, 2006, "as soon as practicable."
The contract manufacturer is being investigated by the SEC over its past stock option grants.
The contract manufacturer is being investigated by the SEC over its past stock option grants.
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