Oak Industries Lists $248,000 in Income
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Oak Industries reported $248,000 in net income, including $2.1 million in income from discontinued operations, and sales from continuing operations that rose 12% to $42.7 million for the first quarter ended March 31. The Rancho Bernardo-based company reported a $10.2 million net loss for the same quarter a year ago.
Oak reported a $1.8 million loss from continuing operations, an improvement from the $12.4 million loss on continuing operations reported a year ago.
Oak on Wednesday extended the expiration date of its debt-for-stock exchange offer from May 6 to May 13.
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