Micropac Industries, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended August 26, 2023
October 10, 2023 at 03:58 pm EDT
Share
Micropac Industries, Inc. reported earnings results for the third quarter and nine months ended August 26, 2023. For the third quarter, the company reported sales was USD 6.46 million compared to USD 6.94 million a year ago. Net loss was USD 0.53 million compared to net income of USD 1.11 million a year ago. Basic loss per share from continuing operations was USD 0.21 compared to basic earnings per share from continuing operations of USD 0.43 a year ago. Diluted loss per share from continuing operations was USD 0.21 compared to diluted earnings per share from continuing operations of USD 0.43 a year ago.
For the nine months, sales was USD 20.09 million compared to USD 20.19 million a year ago. Net loss was USD 0.371 million compared to net income of USD 2.06 million a year ago. Basic loss per share from continuing operations was USD 0.14 compared to basic earnings per share from continuing operations of USD 0.8 a year ago. Diluted loss per share from continuing operations was USD 0.14 compared to diluted earnings per share from continuing operations of USD 0.8 a year ago.
Micropac Industries, Inc. is engaged in designing, manufacturing, and distributing various types of microelectronic circuits, including solid state relays and power controllers, optoelectronic components, and sensor and display components and assemblies. The Company's products are used as components and assemblies in a broad range of military, space, medical and commercial systems, including aircraft instrumentation and navigation systems, satellite systems, power supplies, electronic controls, computers, medical devices, and high-temperature (200 degree Celsius) products. The Company's products are either custom (being application-specific circuits designed and manufactured to meet the requirements of a single customer) or standard proprietary components. It provides microelectronics, sensors and displays, and optoelectronics products, to include components and assemblies that offer a wide range of products sold to the industrial, medical, military, aerospace, and space markets.