Circuits Assembly Online Magazine - Nu Horizons Q1 Sales Up, Net Down

News

MELVILLE, NY – Nu Horizons Electronics Corp., a distributor of active and passive electronic components, posted first-quarter net income of $475,000, down from $1.2 million in the same quarter a year ago.

Sales for the quarter ended May 31 rose to $121.4 million from $118.2 million.

Arthur Nadata, chairman of the board and chief executive, stated, "I am encouraged by the progress we have made and continue to explore opportunities to apply more resources to our more promising areas and to further strengthen our financial position. We are considering numerous business initiatives in the U.S. and Asian marketplaces.

"We believe we have in place the platform to continue to strengthen and grow our business across our business units. In particular, we are actively working to expand the line card in Asia and to increase the demand creation business."