SCHAUMBURG, IL – Sparton reported fiscal fourth quarter net sales of $104.4 million, down 2.4% year-over-year and up 9.4% sequentially.

EBITDA for the quarter ended July 2 was nearly $8 million, compared to a loss of $55.6 million in the prior year period and up 55.4% sequentially.

Operating income was $4.5 million, compared to an operating loss of $59.4 million in the fiscal fourth quarter of 2016. Operating income was up 197% sequentially.

“We are pleased to report our organic growth produced over $23 million in new programs wins for the quarter,” said interim CEO and president Joseph J. Hartnett, “a clear indication of the progress we are making in building a business model that supports profitable revenue growth through business development. Additionally, while a significant amount of time and effort were directed toward arriving at a merger agreement with Ultra Electronics Holdings on July 7, 2017, we were able to focus on delivering improved operating performance for the quarter while exceeding fourth quarter guidance on revenue and gross margins."

For fiscal 2017, net sales were $397.6 million, down 5.2% year-over-year. EBITDA for the year was more than $22 million, compared to a loss of $36 million last year. Operating income was $7.6 million, compared to an operating loss of $51.8 million last year.

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