We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Micronetics, Inc. (MM) | NASDAQ:NOIZ | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 14.85 | 0 | 01:00:00 |
Micronetics, Inc. (NASDAQ:NOIZ) today reported results for its first quarter ended July 2, 2011 (Q1 FY 2012).
Net sales for Q1 FY 2012 were $10,039,293, an increase of $672,599 or 7% compared to $9,366,694 for Q1 FY 2011.
The increase in net sales was primarily attributable to an increase in sales of components for defense applications. For Q1 FY 2012, the Company reported a net income of $564,372 or $0.12 per diluted share, as compared to a net income of $499,850 or $0.11 per diluted share for Q1 FY 2011.
David Robbins, Micronetics' CEO stated, ”Our Q1 FY 2012 revenue exceeds our historic reported revenue for any quarter by over $0.6M. We are pleased with this positive trend in revenue, earnings, backlog, and subsystems bookings for the quarter. We are also optimistic about booking additional subsystems orders this calendar year, which we expect will continue to fuel positive financial performance.”
Backlog is $31 million with approximately $10 million in bookings for the quarter.
Micronetics manufactures microwave and radio frequency (RF) components and integrated subassemblies used in a variety of defense, aerospace and commercial applications. Micronetics also manufactures and designs test equipment and components that test the strength, durability and integrity of communication signals in communication equipment. Micronetics serves a diverse customer base, including BAE Systems, Boeing, Cobham, EADS, General Dynamics, ITT, L-3 Communications, Lockheed Martin, Northrop Grumman, Raytheon, Rockwell, Teradyne, and Thales. Additional information can be found on our website at www.micronetics.com.
Some of the statements contained in this news release are forward-looking statements. The accuracy of these statements cannot be guaranteed as they are subject to a variety of risks, including but not limited to reductions in spending by certain of our customers, yearly and quarterly fluctuations in our operating results, trends and factors affecting our markets which may reduce demand and pricing pressure on our products, our reliance on a limited number of customers, risk that federal government contracts may be terminated at any time, factors which may negatively affect our gross margins, our ability to attract and retain key technical and management personnel, our ability to operate and integrate acquired companies, our ability to manage our growth, disruptions in supply or production, increased levels of debt, our ability to protect our proprietary information, future economic conditions in our industry and generally, as well as other factors. The information in this release should be reviewed in conjunction with Micronetics' Annual Report on Form 10-K for its fiscal year ended March 31, 2011 as well as its other filings with the Securities and Exchange Commission.
INCOME STATEMENT DATA ($000s omitted except per share data) Thirteen Weeks Ended July 2, 2011 June 26, 2010 Net sales $ 10,039 $ 9,366 Gross margin 3,180 3,399 Research and development 414 487 Selling, general and administrative expenses 1,757 1,885 Amortization of intangibles 78 87 Other (expense) income (43 ) (70 ) Income before provision for income taxes 888 870 Provision for income taxes 324 370 Net income 564 500 Earnings per common share: Basic 0.12 0.11 Diluted 0.12 0.11 Weighted average shares outstanding: Basic 4,558 4,554 Diluted 4,566 4,562
1 Year Micronetics Chart |
1 Month Micronetics Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions