Lower Q4 Leaves Probe with 2012 Net Loss
Published: 08 April 2013
by Mike Buetow
IRVINE, CA -- Probe Manufacturing reported a net loss of $116,373 for 2012, down from a net profit of $91,000 in 2011.
The micro-tier EMS company sustained higher interest expenses, an increase in its doubtful accounts allowance and an increase in inventory reserves. It also noted lower orders and revenue in the third and fourth quarters.
Fourth quarter sales were $993,000 and the loss from continuing operations was $129,000.
For the year ended Dec. 31, revenue rose 9.1% to $4.96 million. Gross margins slipped three percentage points to 28%. The net profit from operations was $71,510.
