M-tron Industries, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 10, 2023 at 04:05 pm EDT
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M-tron Industries, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 10.14 million compared to USD 7.06 million a year ago. Net income was USD 1.28 million compared to USD 0.486 million a year ago. Basic earnings per share from continuing operations was USD 0.47 compared to USD 0.18 a year ago. Diluted earnings per share from continuing operations was USD 0.47 compared to USD 0.18 a year ago.
For the six months, sales was USD 19.51 million compared to USD 14.76 million a year ago. Net income was USD 1.83 million compared to USD 1.11 million a year ago. Basic earnings per share from continuing operations was USD 0.68 compared to USD 0.41 a year ago. Diluted earnings per share from continuing operations was USD 0.68 compared to USD 0.41 a year ago.
M-tron Industries, Inc. designs, manufactures and markets frequency and spectrum control products. The Company provides solutions for communication and control, satcom, radar and electronic warfare, guided munitions, test and measurement, computers, servers and networks and energy management applications. Its portfolio is divided into three product groupings, Frequency Control, Spectrum Control and Integrated Microwave Assemblies. The Frequency Control product group includes a portfolio of quartz crystal resonators, clock oscillators, VCXO, TCXO OCXO and TCVCXO devices which meet some of the tightest specifications, including IEEE 1588 standards. Spectrum Control product group includes a wide array of radio frequency (RF), microwave and millimeter wave filters and diplexers covering a frequency range from one megahertz (MHz) to 30 GHz, and solid-state power amplifiers covering a frequency range from 300 MHz to 26 GHz, with power output from 10 Watts to 10 kilowatts (kW).