Hirsch International Corp. Reports 2008 Third Quarter Results
Hirsch International Corp. (NASDAQ: HRSH, http://www.hirschinternational.com) today announced financial results for the third quarter ended September 30, 2008.
For the third quarter of 2008, net sales were $10.6 million, compared to $11.9 million in the third quarter of 2007. Net loss in the third quarter of 2008 was $2.0 million, or $0.21 per diluted share, compared to a net loss of $119,000, or $0.01 per diluted share, in the prior year.
Gross profit for the third quarter of 2008 was $3.2 million, or 30% of net sales, compared to $4.5 million, or 38% of net sales, in the third quarter of 2007 and operating expenses were $5.2 million versus $4.7 million in the prior year period.
For the nine-month period ended September 30, 2008, net sales were $32.4 million, compared to $38.1 million in the prior year period. The Company reported a net loss of $3.6 million, or $0.38 per diluted share, for the first nine months of 2008, compared to net income for the first nine months of 2007 of $1.5 million, or $0.15 per diluted share. The three month and nine month results include sales of U.S. Screen of $1.4 million with a net loss of $0.6 million or $0.07 per diluted share. U.S. Screen was acquired on August 4, 2008.
Original post by no@spam.com (Maxamillion Blick)