Circuit Systems sees return to profit
Thursday September 11 5:11 PM EDT
ELK GROVE VILLAGE, Ill., Sept 11 (Reuter) - Circuit Systems Inc said Thursday it expects to return to profitability in the next few months.
For the fiscal 1998 first quarter ended July 31, the circuit board maker reported a net loss of $502,000, or $0.10 a share, citing a slowdown in sales from existing customers. The company had a profit of $224,000, or $0.04 a share, a year ago.
``However, we have not lost any customers, bookings have picked up, backlog has increased, and, as a result of the start-up costs and other expenditures we have made this past year to increase capacity, both domestically and for our plant in India, we should return to profitability in the next few months,'' D.S. Patel, president and chief executive officer, said in a statement.
Circuit Systems shares were down 1/8 at 4-3/4 Thursday. |
