Cushman Electronics Cuts 2nd-Period Loss
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Cushman Electronics Inc., a Newport Beach manufacturer of radio and telephone test equipment, said Wednesday that it posted a net loss of $99,000 in its second fiscal quarter, ended March 31, a major improvement over the $450,000 loss in last year’s second quarter. Sales for the quarter were down 13.6% to $1.9 million from $2.2 million a year ago.
In the first six months of its fiscal year, Cushman had a net loss of $268,000, substantially smaller than the $711,000 loss in the first six months of last year. Sales for the period were down 17% to $3.8 million from $4.6 million.
Improved gross margins and lower operating and interest expenses led to improved operating results, the company reported.
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