Brajdas Reports Loss of $2.57 Million in 4th Quarter
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Brajdas Corp., a distributor of electronic components, reported that its net loss widened in the fiscal fourth quarter that ended Feb. 28 to $2.57 million from $1.46 million a year earlier. Revenues declined 9% to $11.1 million from $12.2 million.
For the year that ended Feb. 28, Brajdas lost $3.2 million, contrasted with a loss of $2.24 million in the previous year. Revenues were $46.7 million, a 20% decline from $58.5 million. Brajdas said it continued to feel the effects of weak demand for electronics in fiscal 1991. Profits were also hurt by Brajdas’ move away from semiconductor products, which reduced sales faster than expenses could be trimmed, Brajdas said.
The company also said that it is considering a rights offering to raise cash and reduce debt.
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