Electronic Products & Technology

CRS Electronics reports record revenues for second quarter fiscal 2010


Electronics CEL

CRS Electronics Inc. - an inventor, developer and manufacturer of LED lighting - reported its financial results for the three and six month period that ended June 30, 2010.

During the three months end, the company reported “a sales increase over the same period 2009 of more than 35% to $881,260 and a net loss of $411,599 or $0.01 per share.” The six month end had the company reporting “sales of $1.54 million and a net loss of $652,488 or $0.02 per share” in comparison to sales of “$1.08 million and a net loss of $371,922 during the same period last year.”

“Since the development and subsequent entry to the marketplace of our LED MR16 we have experienced continued strong growth in sales,” said Scott Riesebosch, president of CRS Electronics. “The CRS team has been working very hard to produce these results and we are excited to see our new LED PAR series of lighting solutions enter the marketplace to continue to drive our sales and growth strategy.”

New customers for the quarter include:
– Intercontinental Hotel in San Francisco
– Wellington in Boston, MA
– Quest Diagnostics Inc in Madison, NJ
– Kenair Apartment Ltd., Toronto, ON
– Gotham Vintage Lofts in Toronto, ON

During the quarter, the company also received certification from the Underwriters Laboratories (UL) for safety and compliance on the company’s LED M16 products.



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