Micron Solutions, Inc. Announces Earnings Results for the Third Quarter and Nine Months Ended September 30, 2018
November 13, 2018 at 08:27 am EST
Share
Micron Solutions, Inc. announced earnings results for the third quarter and nine months ended September 30, 2018. For the quarter, the company reported net sales of $5,002,000 compared to $4,908,000 a year ago. The increases were partly offset by decreased net sales of machined orthopedic implant components and instruments. Net loss was $77,000 compared to $181,000 a year ago. Loss per share was $0.03 compared to $0.06 a year ago. Adjusted EBITDA was $401,000 compared to $338,000 a year ago.
For the nine months, the company reported net sales of $15,441,000 compared to $15,564,000 a year ago. Net loss was $223,000 compared to $991,000 a year ago. Loss per share was $0.08 compared to $0.35 a year ago. The decrease in consolidated net sales for the nine months ended September 30, 2018 versus the prior year period was due to a decrease in net sales of thermoplastic injection molding and tooling, partly offset by increased net sales of sensors and machined orthopedic implant components and instruments. Adjusted EBITDA was $1,279,000 compared to $480,000 a year ago.
Micron Solutions, Inc. is a diversified contract manufacturing organization (CMO). The Company, through its subsidiary, Micron Products, Inc., produces medical devices, military, and consumer components and assemblies requiring precision machining and custom injection molding. The Company provides design, engineering, quality and regulatory across the Companyâs three product lines: machining, thermoplastic injection molding and sensors. It machines components for implants and instruments for medical devices, including large joint replacements, wrist plates, rib fixation plates, and screws. Its custom thermoplastic injection molding services meet the needs of customers who require clean room molding, in-cycle vision inspection, assembly and packaging to tight tolerances using engineered materials. Its other value-added services include pad printing, ultrasonic welding, stamping, laser marking, clean room molding, clean room assembly, specialty coatings, plastic machining and others.
MICRON SOLUTIONS, INC. 