Probe Turns in First Profit in Years
IRVINE, CA -- Probe Manufacturing swung to a second-quarter profit of $16,314, up from a loss of $85,000 a year ago.
Net revenue totaled $1 million, up 1% year-over-year. The gross profit margin was 29.2% for the period ended June 30.
It was the EMS company's first profitable quarter since March 2012.
Backlogs increased to $3 million, and the company completed its acquisition of Trident Manufacturing, an EMS with 2012 revenue of $3 million.
CEO Kam Mahdi said, "We were successful in increasing revenue as compared to the same period the prior year and sequentially with limited resources and working capital. Our ability to grow revenue directly relates to resources, our ability to increase sales through existing customers and attracting new customers. We still believe firmly that the US is reclaiming its role as the center of manufacturing for American innovation.”
