HAUPPAUGE, NY -- Jaco Electronics Inc., a distributor of electronic components, today reported third-quarter revenues of $60.5 million, down from $63.1 million last year.

For the period ended March 31 the net  loss was $1.1 million, down from a profit of $129 million last year.

Sequentially quarterly revenues rose 16.5%, and the quarterly net loss fell 29%.

Jaco chairman and chief executive Joel Girsky said, "We are continuing to evolve our 
business model to strengthen our market presence while simultaneously reducing 
all nonessential costs. Our strategy is based on an ongoing focus on our
flat panel display capability, marketing efforts targeted at business in the 
U.S. and the reduction of overhead and costs without impairing our ability to support 
our customers. 

During the quarter, the company reduced SG&A costs 10.3% year-on-year and 8% sequentially.

"Jaco remains focused on capturing U.S. business, and we recently expanded our quote group team" to focus on mid-level contract manufacturers," Girsky said.