caLogo
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.
Submit to FacebookSubmit to Google PlusSubmit to TwitterSubmit to LinkedInPrint Article
Don't have an account yet? Register Now!

Sign in to your account