Product category:
Microprocessors, Microcontrollers and DSPs
News Release from: Nu Horizons Electronics Corp
Edited by the Electronicstalk Editorial
Team on 10 January 2005
Strong Asian growth fuels Nu Horizons
Nu Horizons Electronics Corp has reported financial and operating results for the third quarter and nine months ended 30th November 2004.
Nu Horizons Electronics Corp has reported financial and operating results for the third quarter and nine months ended 30th November 2004 Net sales for the third quarter ended 30th November 2004 increased to $116.2 million from $91.1 million for the comparable period last year
This article was originally published on Electronicstalk on 7 Jul 2008 at 8.00am (UK)
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Net income for the current quarter was $585,000 or $0.03 per share on 16,891,647 basic shares outstanding ($0.03 per share on 17,506,975 diluted shares), compared with a net income of $197,000 or $0.01 per share on 16,700,700 basic shares outstanding ($0.01per share on 17,641,150 diluted shares) in the same period last year.
For the nine months ended 30th November 2004, net sales increased to $353.6 million from $243.8 million in the comparable period last year.
Net income for the first three quarters of fiscal 2005 was $2,957,000 or $0.18 per share on 16,886,647 basic shares outstanding ($0.17 per share on 17,816,056 diluted shares), compared with a net loss of $1,257,000 or $0.08 per share on 16,685,628 shares outstanding in the year-earlier period.
Arthur Nadata, Chairman of the Board and Chief Executive Officer of Nu Horizons, said: "Sales for the quarter were up 27% versus last year's third quarter".
"While the US economy and end markets are continuing to show modest signs of improvement, Nu Horizons has positioned itself for strong growth in Asia".
"Our sales in Asia for the first nine months of fiscal 2005 increased 100% as compared to the same period last year".
Nadata continued, "The additions to our line card throughout 2004 have improved and strengthened our demand creation model".
"More importantly, we are considering adding new suppliers, which we expect to compliment our current line card and result in increased market share throughout Asia".
Nadata concluded: "Our primary focus and commitment is on market penetration and service excellence".
"The combination of our strong financial condition, strategic positioning and long-term fundamentals leave us well-positioned for gaining market share and improving overall results".
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