Koss Corp, Milwaukee, WI, is a designer, manufacturer and marketer of stereo headphones, loudspeakers, and other accessories. The stock just broke out of a 2-year trading range of between $5-$8/share to a current share price of $11. The following announcement propelled the price:
Reuters, Wednesday, January 08, 1997 at 13:08
MILWAUKEE, Wis., Jan 8 (Reuter) - Koss Corp said Wednesday
it expects the 21 new products it is introducing will
contribute to its results in the second half of fiscal 1997 and
into the next fiscal year.
The new products, such as stereophones, will be introduced
this week at the Consumer Electronics Show in Las Vegas.
Michael Koss, president and chief executive officer, said
the consumer electronics sector of the retail industry has
reported inconsistent results following the holidays. He added
this was reflected in a 35 percent drop in its royalty income
from electronics products compared to last year.
"Despite this inconsistency in retail performance we remain
optimistic, and feel that our 21 new product offerings will
give us another boost during the remaining six months and into
the first six months of our next fiscal year beginning in
July," Koss added.
Earlier, Koss Corp reported earnings for the second quarter
ended December 31 of $0.45 a share, up from $0.22 a year ago.
Sales rose to $13.3 million from $9.9 million.
"The company's earnings per share for the three months
(second quarter) has eclipsed the six month performance of last
year and earnings per share for the first six months of this
year have now exceeded last year's complete 12-month total,"
Koss said.
In fiscal 1996, ended June 30, Koss earned $0.67 a share.
Koss Corp makes high fidelity stereophones, active noise
cancellation headsets and loudspeakers.
Any and all thought are appreciated.
DD |
