HAUPPAUGE, NY -- Jaco Electronics Inc. today reported second-quarter net sales of $48.1 million, down from $52 million last year, for the period ended Dec. 31.

The distributor of electronic components reported an operating loss of $180,000, down from $1.7 million a year ago. The net loss widened, however, to $7.4 million from $1.5 million last year.

During the quarter, gross profit margin and SG&A expenses improved. Gross profit margin improved to 13.9%, while SG&A expenses as a percentage of net sales declined to 14.3% from 16% in the prior year.

In a statement, Jaco chairman and chief executive Joel Girsky said, "Early in fiscal Q3, we announced another multi-million dollar electronic voting machine manufacturing order. The new contract was for 5,000 flat panel touchscreen machines." Other recent orders were for gaming machines, military and medical applications, he said.

• Prev
• Next