Press Release:
Man am I glad I'm out of this stock now. However, does make me think about swooping in and buying in a couple weeks under the assumption dividends resume. . .
Technology Research Corporation Announces Suspension of Fourth Quarter Cash Dividend in Expectation of Fiscal Fourth Quarter Loss
CLEARWATER, Fla.--(BUSINESS WIRE)--March 16, 1998--Robert S. Wiggins, Chairman and Chief Executive Officer of Technology Research Corporation (TRC), (NASDAQ-TRCI) announced today that the Company's Board of Directors voted to suspend the Company's fourth quarter dividend in expectation of a loss for its fourth quarter ending March 31, 1998.
The Company expected its Honduran subsidiary (TRCH) to perform significantly better in the current quarter, and although product shipments are improving and progress is being made, the Company now believes that the product volume needed from its subsidiary to produce a profit in the Company's fourth quarter will not be realized.
The Company's Board of Directors will review the Company's dividend policy on a quarterly basis and make a determination at such time as to whether the Company will resume payment of a dividend based on the Company's cash and earnings position.
Technology Research Corporation, a Florida based corporation, is engaged in the design, development, manufacturing, and marketing of electronic control and measurement devices related to the distribution of electrical power and specializes in electrical safety products that protect against serious injury from shock, electrocution and electrical fires. |
