31 May '12, 9am

CRS Electronics announces first quarter financial results

CRS Electronics announces first quarter financial results Press release, May 31; Alex Wolfgram, DIGITIMES [Thursday 31 May 2012] CRS Electronics, a developer and manufacturer of LED lighting, has reported its financial results for the three month period ended March 31, 2012. Net sales for the three month period increased 143% to US$1.3 million compared to US$540,700 for the same period in 2011. Net loss for the quarter was US$1.1 million or US$0.03 per share versus a net loss for the comparative period in 2011 of US$516,700 or US$0.02 per share. The increase in revenues is attributed primarily to the entry of the company into the retail market with shipments of a retail product commencing in January 2012. Retail revenues recognized in the first quarter amounted to approximately US$889,000. The loss in the quarter resulted primarily from production issues related to the man...

Full article: http://www.digitimes.com/news/a20120531PR204.html

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