JACKSON, MI -- Electronics manufacturing services provider
Sparton Corp. reported first quarter 2007 sales rose 29% to $48.3 million but the net loss widened 92% to $2.5 million versus last year.
Sales were stronger in all segments except government, which declined
significantly due to several unsuccessful sonobuoy drop tests. The failed tests incurred higher program costs and resulted in lost contracts, Sparton said.
The company's board approved a 5%
stock dividend, to be paid in cash in January.