Inventronics announce 2010 second quarter results
Inventronics Ltd. - a designer and manufacturer of custom enclosures for telecommunications, electric transmission and cable television industries - announced its unaudited 2010 second quarter results.
After three months ending June 30, 2010, Inventronics reported a net loss of $337,000 (or 7.7 cents per share) on $993,000 in sales. This loss is in comparison with the net earnings of $248,000 (or 5.6 cents per share) on sales of $3,543,000 for second quarter in 2009. According to Inventronics, they “did not incur any reorganization expenses in 2010 while it charged $107,000 against income during the second quarter of 2009.”
“Although we had anticipated lower sales year over year, some of our regular customers dramatically reduced their seasonal spending patterns,” said Dan Stearne, president and CEO. “We have adjusted out costs, and orders have picked up so Q3 is expected to be an improvement,” (Q3 as in third quarter).
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